Global law firm Freshfields advises Saga plc (‘Saga’) on its £485m term and revolving facilities. Saga is the UK's specialist in products and services for people over 50. The new facilities are made available by certain funds and accounts on HPS Investment Partners’ direct lending platform and comprise:

• a £335m term facility, intended to be drawn down to, among other things, repay Saga’s £250.0m Senior Unsecured Notes, maturing July 2026 and £75.0m drawings under the £85.0m loan facility with Roger De Haan, maturing April 2026;
• a £100m delayed-draw term loan facility; and
• a £50m revolving credit facility.

The Freshfields team was led by partner Martin Hutchings and counsel Rosemary Lobley, with support from partner Alex Mitchell, senior associate Sonam Cheema and associates Magdalen Christie, Laura Hutchinson and Ria Di Marco. Partner Emily Szasz and associate Christophoros Tsangarides advised on tax aspects of the transaction.