Profile - The IFT

Jat Bains Macfarlanes LLP

Role: Chief Executive Officer
Website: www.macfarlanes.com

ABOUT MEMBER

Jat specialises in a range of debt finance transactions, acting for corporate clients, private equity sponsors and senior and mezzanine lenders in relation to, amongst other things, workouts and restructurings. Jat is a member of the Institute for Turnaround.

Jat’s restructuring experience includes a secondment to the restructuring group legal team at RBS, where he was involved in the $12bn restructuring of an international financial institution.

Clients for whom he acts include Arora Group, Better Capital, Alchemy Special Opportunities, Goldman Sachs, Incisive Media, ING, OpCapita, The Royal Bank of Scotland and Syntaxis Capital.

Recent highlights include advising:

• Incisive Media, the leading business-to-business information and events company, on its debt for equity swap;
• Albemarle & Bond, the pawnbroking business, on its debt restructuring and subsequent administration;
• OpCapita on its “loan to own” acquisition of the UK business and assets of GAME Group and on its exit by way of flotation;
• Kew Green Hotels on its lease and subsequent debt restructuring;
• Better Capital in relation to the “loan to own” acquisitions of Jaeger and Calyx;
• ING Bank, Eurohypo, Deutsche Hypothekenbank and Grant Thornton (as administrators) on the restructuring of the
Britannica retail property portfolio;
• Arora in relation to the reported restructuring of certain assets to settle liabilities with two hedge funds;
• iSoft on a Ł152.5m debt restructuring and A$183m sale to CSC, which was shortlisted for an award by the Institute for
Turnaround;
• Four Seasons Health Care on a phase 1 debt for equity swap in relation to Ł1.7bn debt facilities, the phase 2 extension of
Ł600m commercial mortgage backed securities and the exit of the group to Terra Firma; and
• Avant Homes, which went through one of the largest debt-for-equity transactions agreed by Lloyds Banking Group during
the last recession, in relation to the further restructuring of its Ł650m debt facilities and its exit.

Organisation Type
  • Private Equity Backed
Average Company Size (£Million)
Sector*
  • Consumer Goods & Retail
  • Financial Services
  • Energy & Natural Resources
  • Infrastructure, Building & Construction
  • Healthcare
  • Leisure
  • Legal