Collas Crill acted for the Market Tech Group in a £900 million secured debt facility from AIG Asset Management (Europe) Limited, to refinance their existing facility with Nomura International Plc and Bank of Cyprus.
Market Tech Holdings Limited, the ultimate parent company for the Market Tech Group, is a Guernsey incorporated AIM listed company with a market capitalisation of c. £975 million.
Market Tech provides a leading online and offline retail destination, by pairing its online e-commerce business with some of the most iconic retail buildings in London, including the Camden Market Lock and Camden Market Stables.
CEO of Market Tech, Charles Butler, commented: "I am very pleased to announce this landmark agreement for Market Tech allowing flexible access to senior secured debt at competitive interest rates. The facility provides the company with stable long term funding, enabling us to drive shareholder value by delivering on our medium and long term acquisition and development strategy."
Collas Crill's team comprised partner Sean Cheong, group partner Nicholas Davies and associate Simon Heggs. The team advised on the Guernsey and Jersey aspects of the transaction while assisting Market Tech's onshore counsel, DLA Piper UK LLP.
Sean said: "This transaction will allow Market Tech to continue to build extensively on its business in the coming years. It is a great sign of confidence to see companies like Market Tech prepare for growth."
