Linklaters advises the arrangers and underwriters on the financing for KKR’s acquisition of Smart Metering Systems

Linklaters has advised BNPP, HSBC, Mizuho, Natwest and SMBC as arrangers and underwriters on the financing for Kohlberg Kravis Roberts & Co’s acquisition by way of recommended cash offer of Smart Metering Systems plc (SMS). SMS is a British energy infrastructure company which owns, installs and manages carbon reduction assets.

The acquisition valued the entire issued share capital of SMS at approximately £1.3 billion, and was supported by a syndicated financing package comprising of £615 million of term debt, along with a £450 million capex facility and a £75 million RCF.

The Linklaters banking team was led by London-based Leveraged Finance partners Pathik Gandhi and Nick Syson, together with managing associate Ignacio Mirasol and associates Luke Dee and Megan Tan.