Kirkland Advised Apollo Funds on Reorganization and Refinancing of The Restaurant Group

Kirkland & Ellis advised Apollo-managed funds in connection with a series of transactions for The Restaurant Group Limited (“TRG”), a leading UK restaurant operator, to reorganize TRG’s three divisions into structurally separate silos under a holding company and refinance existing debt. As a result of the reorganization, the TRG business was structurally separated into (i) wagamama, the leading pan-Asian casual dining operator in the United Kingdom, (ii) Pubs, which principally operates pubs under the Brunning & Price brand, and (iii) a third silo housing all other activities of TRG (Head Office/Concessions/Barburrito).

Under the wagamama silo, Kirkland represented wagamama in connection with the issuance of £330 million senior secured 8.5000% notes due 2030 and a £55 million revolving credit facility. Under the Pubs silo, Kirkland represented Pubs in connection with a senior facilities agreement to obtain financing in the form of a term loan facility and a revolving credit facility. Finally, under the silo housing all other activities of TRG, Kirkland represented the company in connection with a revolving credit facility.

The Kirkland team included capital markets lawyers Marwa Elborai, Rohan Sahai, Alejandro García, Katherine Hu and Patrick Wieser; debt finance lawyers Kirsteen Nicol, Suroop Kandola, Emma Shi, Aman Nath, Adrian Kilercioglu, Kazik Michalski, Anthony Coudounaris, Mai Huynh, Olivia Manley, George Shirlaw, Sichen Xi and Nigel Chiang; corporate lawyers Keir MacLennan, Chris Connolly, Bing Yi Lim, Chris Ho, Moose Sarfraz and Tom Lawless; technology & IP transactions lawyers Emma Flett, Ben Zeris, Shareen Dhillon and Saif Khan; tax lawyers Peter Abbott, Jared Rusman, Vincent Thorn, Hugo Coleman, Cosmos Fung, Ellen Ronayne and Douglas Scott; and investment funds lawyers Nicholas Hemmingsen, Phil Giglio and Felix Jen.