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Erica Hughes

Senior Associate
London

Erica Hughes

Erica Hughes is a senior associate working in acquisition finance. She advises both borrowers and lenders on complex and leveraged corporate acquisitions and financings, with additional focus on funds and insurance lending. Erica trained with Hogan Lovells and qualified into the Acquisition Finance practice in 2008. She has extensive experience of working with both borrowers and lenders on leveraged corporate acquisitions and other financings.

Her recent experience includes acting for Optimal Payments plc, an AIM-listed company, on the debt aspects of a linked debt and equity issuance financing for its acquisition of the Skrill group of companies. She has also advised on a wide range of leveraged corporate acquisitions and other corporate financing, from real-estate backed lending in the retail and care sectors to corporate financing for professional services firms.

In addition, she focuses on funds lending and lending to regulated structures such as life insurance companies. Recent experience in this field includes advising lending syndicates on Cinven's acquisitions of Guardian Assurance and of Heidelberger Lebenversicherung (the first private equity acquisition of a life insurer in Germany), together with subsequent additional acquisitions, on 3i's acquisition of Audley Travel Group, and financing of the Phoenix group of life insurance companies.

Representative Experience

2011 - acting for the lender in the acquisition by Cinven of the Guardian Assurance group of companies.

2014 - acting for the lender in the refinancing of Avant Homes.

2014 - acting for the super senior lender in the reorganisation of Autobar.

Acting for Bestway Group in the debt financing of its acquisition of a pharmaceutical business being spun out of the cooperative group of businesses.

Acting for BNP Paribas as lender to Ontario Teachers Pension Plan in its bid to acquire Burtons Biscuits from a bank and a management firm.

Acting for Optimal Payments plc in its acquisition of the Skrill companies, with a transaction funded by bank lending and a public share offer.

Acting for Sepura plc in its acquisition of the Teltronic companies, via a transaction involving both debt and equity financing via a public share issue.

Acting for the lender in Myriad Healthcare's (Caring Homes) disposal and leaseback of an elderly care home portfolio to Griffin-American Healthcare REIT II, Inc.

Acting for the lending syndicate in Cinven's acquisition of Heidelberger Lebenversicherung AG, Germany's first private equity acquisition of a life insurance company.

Acting for the mezzanine lenders in refinancing Caffe Nero, the largest mezzanine deal of 2013, notable for the mezzanine debt being greater than the senior.

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