Debt offerings

Organisations and private equity owners typically seek to access the debt capital markets in order to grow their business through acquisitions, deleverage their financial position or take advantage of favourable interest rates. Our clients, when issuing public bonds (Eurobonds, high yield bonds or investment grade bonds) regularly require expert, hands-on advice to execute a transaction in an often challenging timetable. We draw upon our diverse capabilities and extensive global network to support and work with our clients and their advisors during the process. We help by thinking creatively to solve issues related to the presentation of financial information, and by sharing our insights to facilitate an efficient and smooth process.

Our Capital Markets services include:

  • Determining deal readiness and areas of risk and focus at the outset of the transaction
  • Driving project coordination for the transaction and providing practical, commercial and timely advice to achieve transaction milestones dates
  • Using our business knowledge to assist and advise on the inclusion of, and disclosures of, the financial information, non-GAAP measures and any pro-forma financial information in the offering document
  • Reviewing the consistency of financial information included in the offering document, rating agency presentations and road show documents
  • Providing advice on current market practices and ongoing transaction compliance
  • Advising on the content and structure of comfort letters and, if we are the auditor, issuing comfort letters to the company and initial purchaser banks on certain financial information included in the offering document
  • Designing solutions for complex debt transactions by optimising group structures, as well as advising on complex accounting and tax aspects and legal structures. Matters to consider include: Who is the issuer? Is the issuer a new plc or existing company? Are there hedging and foreign exchange implications? What about funds flow, the extraction of proceeds and any tax implications/considerations?

Contact us

Jennifer Harper

Partner, Capital Markets, PwC United Kingdom

Tel: +44 (0) 7739 449 097

Sarah Hitchen

Director, Capital Markets, PwC United Kingdom

Tel: +44(0)20 721 35475

Fiorenza Onekawa

Director, Capital Markets, PwC United Kingdom

Tel: +44 (0)20 7804 9929

James Millar

Senior Manager, Capital Markets, PwC United Kingdom

Tel: +44 (0)20 7213 8711

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