Lorraine Vaz

Partner

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Practices
Industries
International
Education
  • University of Cambridge, Postgraduate Diploma, Notarial Practice, 2011
  • The College of Law, London, LPC, with distinction, 1997
  • University of Nottingham, LLB, with American Law (Joint program with the University of Texas), with honors, 1996
Admissions
  • Solicitor, England and Wales
Affiliations

Member, Law Society, England & Wales

Member, Notaries Society

Lorraine focuses on leveraged finance, advising the world’s leading commercial/retail banks, investment banks, debt funds and private equity sponsors on a broad range of domestic and cross-border financings across the credit spectrum.  Her extensive experience includes mid-market as well as large, complex, leveraged and acquisition finance transactions, public bid finance, work-outs and restructurings. She also advises on funds finance transactions.

Lorraine is described by clients as a market leader in European leveraged finance. Clients regularly and consistently praise her commercial acumen and ability to combine immense technical knowledge with a deep understanding of the market.  Her significant experience enables her to formulate pragmatic and innovative solutions to complex problems which work for all parties and address the ever changing needs of clients.

Lorraine is recommended in the Legal 500 UK.

In the News

Lorraine Vaz
vCard
T: +44 20 7632 1682F: +44 20 7632 163811 Pilgrim Street
London EC4V 6RN
United Kingdom

Leveraged and Acquisition Finance - Lender

Advised a leading debt fund on financing a private equity sponsor’s bid for an international patent and trademark consultancy where the financing package included unitranche and super senior facilities.

Advised the mandated lead arrangers on super-senior credit facilities and complex intercreditor arrangements between the super–senior creditors and the debt fund providing the largest Sterling unitranche facility of 2015, for  financing the GBP 414 million acquisition of a leading UK & US brick manufacturer by one of the world’s leading private equity firms.

Advised the mandated lead arrangers on the EUR 400 million post-IPO facilities provided to a leading company in sales, marketing and distribution of specialty chemicals and food ingredients.

Advised the mandated lead arranger on the GBP 83 million senior facilities provided for the leveraged buy-out of a national group of independent veterinary practices by a leading growth equity firm.

Advised the mandated lead arrangers which comprised a group of leading investment banks on the SEK 4 billion of senior facilities backing the SEK 6 billion leveraged buyout of a leading multi-technical service provider for buildings and plant in the Nordics.

Advised the mandated lead arrangers on the GBP 217.5 million senior facilities provided for the GBP 480 million leveraged buy-out of a leading provider of intelligent marketing & credit solutions, by a Chicago based private equity firm.

Advised the mandated lead arrangers, comprised of a group of leading investment banks, in connection with an innovative senior and subordinated debt financing backing one of the world’s leading private equity sponsor’s EUR 1 billion bid for a global specialty chemical company. The financing package was particularly innovative as it was structured as a ‘mid-Atlantic’ product to access the liquidity in the US syndicated loan market.

Advised a consortium of leading US investment banks in connection with a super senior revolving credit facility, high yield bond and innovative, hybrid mezzanine financing, backing the EUR 2.3 billion leveraged buy-out of Securitas Direct, by one of the world’s leading private equity sponsors. 

Advised a leading UK commercial bank on the GBP 25 million super-senior revolving facilities provided to a manufacturer of plasma products as well as advising on related intercreditor arrangements.

Advised the mandated lead arrangers on the EUR 300 million financing package for the leveraged buy-out of a leading UK cinema group by a European private equity firm.

Advised a leading US investment bank on the US$ 5 billion financing package for the leveraged buy-out of an innovative and market leading manufacturer of disposable food packaging, by a leading global manufacturer and supplier of consumer beverage and foodservice packaging products.

Advised a leading UK commercial bank on GBP 55 million of senior term and invoice discounting facilities, for the acquisition of one of the largest fresh food suppliers in the UK by a large wholesaler and catering food supplier.

Advised a leading UK commercial bank in connection with a EUR 100 million financing package for a German public-to-private acquisition of German multiplex group.

Advised on the EUR 2.2 billion public-to-private leveraged buy-out of a Swiss supplier of carton packaging for the food and beverage industry by a leading global manufacturer and supplier of consumer beverage and foodservice packaging products.  This was the first public-to-private leveraged buy-out in Switzerland and was a complex and innovative transaction with a borrower that is dual resident in both Luxembourg and New Zealand and a “covenant loose” senior debt structure. The financing package also included a subordinated bridging facility, which was subsequently refinanced by a high yield issuance.

Leveraged and Acquisition Finance – Borrower

Advised a leading private equity fund and the management of an independent provider of trust, fund, corporate and real estate services on the GBP 150 million refinancing of their facilities with a financing package which included a unitranche and other and super senior facilities.

Advised a leading UK bar and restaurant group on financing the acquisition of Corney & Barrow.

Advised a leading education investment fund on the financing aspects of a complex multi-jurisdiction reorganisation.

Advised three leading UK private equity firms on finance matters for their portfolio companies.

Advised a UK subsidiary of an Australian healthcare provider on an acquisition financing.

Funds Finance

Advised a leading private equity investor in medium-sized, UK-based companies on a GBP 100 million capital call financing.

Advised a world leading manager of alternative investments on a complex subscription financing.

Syndicated/Corporate Lending

Advised a non-bank lender on the financing aspects involved with creating the legal framework for the ECO Capacity, an economic innovation based on a new virtual currency.

Advised a club of leading international banks on USD 120 million and YEN 2,922,150,000 term and revolving facilities for the refinancing of facilities provided to the world's leading marine services provider and its subsidiaries.

Advised a consortium of German and Italian banks on a complicated borrowing base financing, combined with an Italian opco/propco structure provided to a global freight forwarder.

Financial Times Award for Innovation in Legal Expertise in Strategic Collaborations for creating the legal framework for the ECO Capacity, an economic innovation based on a new virtual currency, which created a mechanism for facilitating barter-like transactions using a new concept of money, October 2016

Appointed as a Notary Public by the Archbishop of Canterbury, January 2012

Author, "Ten Years of Leveraged Finance," Euromoney, September 2016
Author, "Upstairs Downstairs – Crossing the Creditor Class Divide," Butterworths Journal of International Banking and Financial Law, January 2011
Moderator, "Cross Industry Views High-Yield Bond Issuance," 12th Annual European High Yield Conference, London, England, October 17, 2017
Panel Chair, "Europe vs US: How much further convergence are we likely to see in the leveraged finance space? Are the dynamics between US and European markets changing," Euromoney, 10th Annual Leveraged Finance Conference, September 2016
Chair, "Round-table discussion on 'Legal trends in leveraged finance'," Euromoney, 10th Annual Leveraged Finance Conference, September 2016