A guide to the key aspects of acquisition finance in the United Kingdom (England and Wales). This article includes a market overview and guidance on leveraged buyouts (LBOs), COVID-19 considerations, mezzanine/payment-in-kind (PIK) loans, bridge loans, high-yield bonds, intercreditor agreements, security, guarantees, lender liability, tax issues and takeover finance.
This article was written by Philip Snell, Kathrine Meloni and Rhiannon Singleton. It first appeared in the Chambers Global Practice Guide: Acquisition Finance 2021.