Slaughter and May advised Unite Group Plc on the establishment of a new EMTN programme and inaugural issuance.

Slaughter and May advised Unite Group plc (“Unite”) on the establishment of a new £2,000,000,000 Guaranteed Euro Medium Term Note programme (the “Programme”). The Programme enables Unite to issue notes which will be guaranteed by certain subsidiaries of Unite and are admitted to trading on the International Securities Market of the London Stock Exchange.

Following the establishment of the Programme, Slaughter and May advised Unite on an issuance for £400,000,000 5.625% Fixed Rate Guaranteed Notes due 25 June 2032 (the “Notes”). The Notes have been assigned a rating of Baa1 by Moody’s and BBB by S&P.

Barclays Bank Plc, HSBC Bank plc and NatWest Markets plc acted as joint dealers for both the Programme establishment and issuance of the Notes.

Unite is the UK’s largest owner, developer and manager of modern, purpose-built student accommodation, providing housing for 70,000 students across 23 leading university towns and cities.