Four Seasons Health Care
Advising Four Seasons Health Care on the restructuring of its £1.7bn debt package, the first of an expected wave of commercial mortgage-backed securities (CMBS) restructurings over the coming years.
This transaction is the largest restructuring to be completed in the UK in 2009. Macfarlanes' role was to advise the Four Seasons group on the complex terms of its multi-layered debt package, to advise the boards of the group companies on solvency issues, to investigate possible merger and sale options and to negotiate, document and implement a creditor standstill, the restructuring and the restructured debt package. The intensivity of the negotiations and the complexity of the consensual transaction also involved the need for significant input from many of the firm's other practice areas including litigation, real estate, anti-trust, corporate tax and employee benefits.
For more information about this deal, please read the press release.