Jack Bodkin is an associate in Ropes & Gray’s finance group in London. Jack has represented sponsors, lenders, and borrowers in a broad range of domestic and cross-border banking and finance transactions including leveraged and acquisition financing, direct lending, distressed financings and fund financing. Jack spent 4 months on a client secondment in the distressed debt team at a multi-strategy hedge fund in 2015.
Leverage and General Financing
- Acting for a leading mid-market US private equity fund on the dividend recapitalization of a portfolio company.
- Acting for Bridgepoint in relation to the leveraged financing of BigHand Group.
- Acting for Fortress Investment Group in relation to certain leveraged investments.
- Acting for Reed Mackay, an international travel management company, on its acquisition of Hillgate Travel.
- Acting for Bain Capital in connection with:
- its purchase of a controlling stake in MKM, the UK’s largest independent builders’ merchant, from 3i and Lloyds Development Capital; and
- its acquisition of the Ibstock, Forticrete, Supreme and Glen Gery clay and concrete businesses of CRH plc.
- Acting for Liberty Global plc in connection with:
- the £3.5 billion acquisition and refinancing of Cable & Wireless Communications; and
- its €3.95 billion equivalent dual currency loan financing package in relation to its takeover offer to acquire Dutch listed cable company Ziggo N.V. with approximate value of €10 billion.
- Acting for Altice, S.A. in connection with
- the US$1.1 billion bank and bond financing arrangements for its acquisition of HOT-Telecommunication Systems Limited and Cool Holding, which included the first high yield bond in the Israeli market; and
- a US$1.034 billion covenant lite term loan, a €250 million bond issuance and €125 million in other bank financing of the acquisition of Groupe Outremer Telecom S.A.
- Acting for Oaktree Capital, as borrower, in relation to a subscription line facility for a European Real Estate Fund.
- Acting for a large financial institution, as lender, in connection with a participation in a $4 billion subscription credit facility.
- Acting for Nordic Capital, as borrower, in relation to subscription facilities for Fund VIII and Fund IX involving certain upsizes and extensions to those facilities.
- Acting for a major European private equity house in relation to its capital call bridge and related liquidity requirements.
- Acting for CVC Credit Partners, as borrower, in relation to subscription facilities provided by various UK banks to bridge investor commitments in relation to its mid-market and special situations funds.
- Acting for a large financial institution, as lender, in connection with the refinance of an existing margin loan facility and provision of a new margin loan facility for a European fund.
Direct Lending and Distressed Debt
- Acting for Intermediate Capital Group on its financing, by way of PIK loan, in connection with its joint partnership investment into IRIS, a leading provider of business-critical software and services.
- Acting for TPG Special Situations Partners in connection with its acquisition of Credit Suisse’s US Distressed Credit business.
- Acting for Goldman Sachs European Special Situations Group and TPG Special Situations Partners in connection with their joint acquisition of the Lundy Portfolio from Lloyds Banking Group.
- Acting for mezzanine lenders, including Partners Group, Highbridge, MV Credit, JPMorgan Chase and a multinational private equity firm, in the €1.82 billion acquisition of BSN Medical, a leading German medical supplies manufacturer, by Swedish private equity house EQT.
- Acting for Alcentra as mezzanine debt provider in connection with the refinancing of the Mountain Warehouse group of companies.
- Acting for GSO and HayFin as mezzanine debt providers in connection with the £150 million refinancing of the Safety-Kleen group of companies.