Deal analysis: loan note alternatives on public takeovers

Resource type: Practice note

Status: Law stated as at 28-Feb-2008

Jurisdiction: United Kingdom

Table setting out the key features of the loan note alternatives offered on takeovers between 1 October 2006 and 28 February 2008 with a value in excess of £250 million. For details of more recent loan note alternatives on public takeovers and for fuller details of the issues covered in the table below, see PLC What's Market. The table sets out:
  • Details of any guarantee.
  • Whether there was a condition as to a minimum take up level for the loan note alternative before the bidder would issue any loan notes.
  • Whether the loan notes were available for the entire cash amount of the offer or only part of it.
  • Redemption details.
  • The interest rates on the loan notes.
  • Transfer restrictions.

For further information on loan note alternatives to takeover offers see PLC Practice note, Consideration and underwriting: takeovers and PLC What's Market.
PLC Corporate

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  • Resource ID: 9-217-0005
  • Law stated date: 28-Feb-2008
  • Products:  PLC UK Corporate, PLC UK Law Department, PLC UK Tax
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