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We helped the lender (a well-known bank) with a £3.6 million secured term loan to a care home operator. The loan allowed the operator to acquire the entire issued share capital of an additional care home business, as well as the freehold property from which the business is operated.

Our role included:

  • drafting, negotiating and arranging the facility agreement, legal charge, intercompany guarantee, debentures and deed of subordination
  • reporting on the title of the freehold property being acquired
  • overseeing the satisfaction of the conditions precedent to drawdown
  • registering the relevant security documentation after completion (at Companies House and the Land Registry)
  • reviewing the draft share purchase agreement, disclosure letter and buyer’s legal due diligence report, and highlighting any issues to the client.

We worked to an extremely tight timeframe as the seller needed to complete the transaction before leaving the UK for a prolonged period.