Freshfields Bruckhaus Deringer has advised Associated British Ports Holdings Limited and its holding company, Associated British Ports Acquisitions UK Limited, in relation to the establishment of a 25-year £5bn secured bank/bond financing platform. It has refinanced £2.36bn of acquisition debt incurred in connection with the acquisition of the Associated British Ports group in 2006.

As part of the refinancing, Associated British Ports Acquisitions UK Limited raised £1.8bn of bank debt under senior term facilities from a club of banks and ABP Finance Plc issued £500m of bonds listed on the Irish Stock Exchange. In addition, ABP Mezzanine Holdco UK Limited issued bonds listed on the Channel Islands Stock Exchange. 

Lead partner Marcus Mackenzie commented: ‘We are delighted to have been able to assist the ABP group in this landmark transaction to secure long­-term funding in a particularly challenging environment.’ 

The Freshfields team was led by Structured Finance partners Marcus Mackenzie and Chris Barratt and Banking partner David Trott. They were assisted by senior associates Gautham Srinivas, Nick Stainthorpe and Richard Perks and associates Kim Lyons, Aled Batey and Bronwen Whitehead. 

Tax advice was provided by partner Murray Clayson and associates Susie Brain and Alan Rafferty. Real Estate advice was provided by partner John Fordham and associate Katie Lyons. Corporate advice was provided by partner Vanessa Knapp and associate Jared Smith.