Trowers advise Catalyst and Peabody Groups on the financing aspects of their merger
The Banking & Finance team at international law firm Trowers & Hamlins has advised the Catalyst and Peabody Groups on financing aspects of their merger.
Trowers & Hamlins has acted as joint legal counsel for the Catalyst and Peabody groups in advising on the financing aspects of the first stage of their merger. Catalyst and its subsidiaries became members of the Peabody group on 1 April 2022. The group intends that Catalyst and Peabody will legally combine in 2023. The group will be responsible for 104,000 homes and around 220,000 customers across London and the home counties, creating one of the largest social housing providers in the country.
Working closely with the finance and treasury teams at Catalyst and Peabody, as well as financial advisors Rothschild & Co, the team reviewed over 50 funding agreements and went on to negotiate the required funder consents. Key terms were aligned to ensure that the combined group can operate to deliver its investment priorities, new regional structure and locality model.
Partner Eleanor James led the team, assisted by a large team of finance specialists including senior associates Jasna Djurisic and Simon Valner.
"We are very pleased to have assisted Peabody and Catalyst with the first step to achieve their mutual aspirations. The emphasis on equality, diversity and inclusion coincides with our firm's core values and is something we are proud to support."