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Hogan Lovells International LLP

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Work 020 7296 2000
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Penny Angell

Work +44 20 7296 2000
Hogan Lovells US LLP

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Penny Angell's practice focuses on acquisition and leveraged finance and other complex corporate debt arrangements.

Never one to adopt a 'one size fits all' mentality, Penny has continually adapted to changing market dynamics and debt structures and has consequently advised on a wide array of leverage financings, including senior, mezzanine, PIK and unitranche/super senior financing arrangements on acquisitions and other leveraged finance transactions, including take-privates, bids, leveraged recapitalisations and domestic and cross-border leveraged buyouts.

London: Finance

Acquisition finance

Within: Acquisition finance

Hogan Lovells International LLP 's five-partner team receives a significant flow of mandates in the mid to upper-mid market from a lender focused client base that includes UK commercial banks (Lloyds, HSBC), as well as many of the main non-bank direct lenders including Ares Management, ICG and Hayfin. Although the team is sector agnostic, it has built up a particularly strong reputation for handling the financing of M&A transactions in heavily regulated sectors including insurance. The 'excellent' Matthew Cottis recently acted for a banking consortium, including RBS, HSBC, and ABN Amro, in relation to the acquisition facility agreements to assist the purchase by Phoenix of Standard Life Assurance. As well as her work for debt funds and banks, Jo Robinson also picks up borrower side mandates and recently acted for Claranet on the refinancing of its existing debt and an additional debt package to enable it to fund the acquisition of three IT service providers in the UK, Portugal, and France. Paul Mullen and Penny Angell are also recommended.

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Bank lending: investment grade debt and syndicated loans

Within: Bank lending: investment grade debt and syndicated loans

Although it remains best-known for its pre-eminent mid/upper-mid market leveraged finance brand as a result of its close ties with a wide range of financial institutions including UK clearers, investment banks and direct lenders, Hogan Lovells International LLP also regularly handles broader financing work including investment grade corporate lending and syndicated lending to facilitate corporate facing acquisition finance mandates. Matthew Cottis has a particular niche handling the financing related to insurance M&A and recently acted for the consortium of banks including RBS, HSBC and ABN Amro, on the financing to facilitate Phoenix's purchase of Standard Life Assurance Limited from Standard Life Aberdeen plc. Other highlights included Jo Robinson's representation of the lenders (including HSBC and Lloyds) on the amendment and restatement of ZPG plc’s existing revolving credit facilities agreement to add an additional £75m term loan facility. Penny Angell is also recommended.

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Hogan Lovells US LLP

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