Weil advised its longstanding corporate and finance client Howden in connection with its debut offering of $1 billion 7.250% Senior Secured Notes due 2031 and $500 million 8.125% Senior Notes due 2032. Weil has also advised Howden on the amendment and restatement of its existing credit agreement, the establishment of a new $2.925 billion first-lien dollar term loan and a new €900 million first-lien euro term loan, along with the increase of its revolving credit facility to £630 million.

The work on Howden’s financing follows on from Weil’s advice to Howden on its acquisition and integration of TigerRisk Partners in the U.S. and, more recently, equity-structuring aspects of its acquisitions of VLC in the Netherlands and NORTH Risk in Denmark.

Howden is a leading global insurance intermediary group operating in 50 countries across Europe, Africa, Asia, the Middle East, Latin America, the U.S., Australia and New Zealand, employing 16,000 people and handling $38 billion of premium on behalf of clients.

The Weil team on the refinancing was led by London High-Yield partner Andy Hagan, New York Finance partner Andrew Yoon and London Finance partner Patrick Brendon. The London-based team included High-Yield associates Sandra Fadel, Lorenzo Colombi-Manzi, David St-Onge and Roberto Storlazzi, Finance associates Abgail Kalonga, Shu Qin Low and Atty Abhyankar and trainee Deirdre Walsh; with corporate support from London Corporate partner Jonathan Wood and associate Arisa Manawapat. The New York-based team included Finance associates Christina Ramos, William Keller, Erik Zimmerman and Nicole Reynolds, with corporate support from associate Gracy Wang.  U.K. Tax partner Oliver Walker and associate Akash Mehta advised on U.K. tax matters, with U.S. tax advice from partner Devon Bodoh and associate Carlos Parra.