"Dentons Advises Silk Road Group on $400 Million Bond Issue and Tender Offer"

Dentons, the world's largest global law firm, advised Silk Road Group Holding LLC (SRGH LLC), a diversified holding company in Georgia, on its inaugural Rule 144A/Reg S bond issue. J.P. Morgan and UBS Investment Bank acted as joint bookrunners and joint lead managers, while Galt & Taggart, Oppenheimer, and TBC Capital served as joint lead managers for the transaction. The transaction involved the issuance of US$400 million 7.500% guaranteed high-yield notes due 2030, guaranteed by six subsidiaries of SRGH LLC, with an additional guarantee from JSC Silknet (Silknet) expected within 60 days of issuance. Dentons also advised SRGH LLC on a concurrent tender offer for Silknet's existing unsecured notes maturing in 2027 and a related consent solicitation. A portion of the proceeds from the new bond issue was used to finance the purchase of the existing notes subject to the tender offer. The Dentons team advising on the transaction included London-based partner and Head of Banking and Financial Services Division Nick Hayday, high-yield finance partner Colin Chang, capital markets and US securities partner Cameron Half, and Tbilisi-based corporate partner Avto Svanidze. Additional team members included Managing Practice Development Lawyer David Ferris, associates Ed Varney, Miriam Babarinde, and Pichrotanak Bunthan, trainee Maria Polycarpou, and solicitor apprentice Lemuael Kyeremateng in London, as well as senior associates Neli Tsivtsivadze, Sopho Mebonia, and Natela Otaridze in Tbilisi.

"Dentons Advises Silk Road Group on $400 Million Bond Issue and Tender Offer"

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