A&O Shearman advises on True Potential’s GBP750 million (equivalent) senior secured notes issuance and extension of GBP120m revolving credit facility

The offering comprised GBP405m 7.750% senior secured notes due 2031 and EUR400m senior secured floating rate notes due 2032. The proceeds from the issuance were used to refinance existing notes and address upcoming maturities, further strengthening True Potential’s capital structure.  

In addition to the high yield bond issuance, A&O Shearman advised the banks on the amendment and restatement of True Potential’s GBP120m revolving credit facility, including by extending its maturity date. 
 
True Potential is majority owned by funds managed by Cinven while minority shareholders include True Potential’s founders and senior management.
 
The A&O Shearman team was led by High Yield partner Brad Weyland and Leveraged Finance partner Nicholas Clark, counsel Anand Karia, senior associates Odysseas Theofanis and Kiddist Forsythe, and associate Majd Atalla.