Banking and Finance Partner, London
“I advise on finance transactions focusing on complex leveraged finance deals across the capital spectrum, including fund finance transactions. I have expertise in structuring new money deals (offering a wealth of experience in restructuring such deals) ensuring the certainty of outcome for lender, sponsor and corporate clients. I am recognised as being diligent, commercial and pragmatic.”
Education and qualifications
Annette is a senior banking and finance partner with extensive experience of cross border leveraged finance transactions. She regularly advises financial institutions and alternative credit providers, corporates, private equity sponsors and their portfolio companies in mid-market and large-cap leveraged deals, as well as fund finance transactions.
Annette has a breadth of leverage product knowledge across the capital spectrum having developed and worked on a multitude of debt structures (including first out/last out, PIK, unitranche, second lien and mezzanine structures), European and U.S. Term Loan B (TLB), covenant-lite, super senior revolving credit facilities and pari high yield bond transactions, as well as the restructuring of those transactions.
Annette’s extensive knowledge of all financing options has been key to the successful execution of a number of deals for a range of clients. She has been at the forefront of developing innovative structures, especially during the increasing convergence of terms within, and between, products and markets. She has been closely involved in market developments more frequently requiring the use of the direct lending alternative credit market.
Annette has led on many high-profile banking deals. Recent significant transactions where she was substantially involved include advising:
- the mandated lead arrangers on a new TLB, RCF and bridge facility, and to the initial purchasers of the senior unsecured high yield bonds put in place for the acquisition of AeskuLab Holding, a.s. and Alpha Medical, s.r.o., two Czech/Slovakian laboratory diagnostics providers, by Unilabs, a portfolio company of Apax Partners
- Apollo Global Management on the financing of its €3bn acquisition of Verallia, which was notable for its covenant-lite, pari loan/high yield bond structure
- the ad hoc co-ordinating committee of first lien lenders on the €700m debt restructuring of the H.C. Stark Group
- Alcentra on the “first out, last out” refinancing for Anacap Financial Partner’s acquisition of the First Names Group involving first out senior tranche TLB and last out senior tranche TLB to help reduced overall blended cost of capital for the borrower
- Alcentra and Barclays Bank on the unitranche financing and super senior revolving facilities supporting CBPE Capital’s acquisition of the Anesco Group (and subsequent recapitalisation)
- the unitranche lender and super senior revolving credit facility provider on the financing Agilitas Partners’ acquisition of the Impetus Waste Management group. The deal was notable for combining for the first time in a European transaction asset-backed lending with unitranche financing and structuring a workable Intercreditor position
- the unitranche lender and revolving credit facility provider on the senior financing for Vitruvian Partners’ acquisition of the CRF Health group
- Ares as second lien lender supporting Five Arrow Principal Investments acquisition of the Karnov Group
- various funds in respect of fund finance (including capital call/subscription credit facilities)
Annette has written many articles for a number of publications, including the Loan Market Association (LMA), the Loan Syndications and Trading Association (LSTA), Private Equity News and The Lawyer, on topics including unitranche financing and alternative lending, amongst other issues of relevance to both the private equity and leveraged finance markets.
She is often quoted in private equity and alternative lending publications, such as the Deloitte Alternative Lender Deal Tracker, and is a regular speaker at both Linklaters own and externally-sponsored seminars.Annette co-authored “Secured Transaction Law Survey, The Legal Framework for Secured Credit: An Australian Perspective – Taking, Maintaining And Enforcing Security”, (Butterworths Journal of International Banking and Finance Law, Volume 16 (2), (3) February-March 2001).
Education and qualifications
Annette studied law and commerce at the University of New South Wales.
Annette is a dual qualified English and Australian solicitor, and previously practised at Mallesons in Australia.
She speaks English and Armenian.