Shearman & Sterling has acted as US and English counsel to Citigroup, RBS, BNP Paribas, HSBC, ING and Société Générale, as initial purchasers in connection with Care UK Health & Social Care plc’s offering of £250 million senior secured notes due 2017. The offer closed on 21 July.

The firm also advised Citigroup, HSBC, Lloyds and ING as mandated lead arrangers in connection with the provision of an £80 million senior revolving credit facility to the Care UK group, in conjunction with its financing.

Care UK is a leading independent provider of health and social care in the UK. Working in close partnership with local authorities, primary care trusts and strategic health authorities, the company provides health and social care services that include residential, community, specialist, primary and secondary care.

The complex transaction involved the bond offering and the senior revolving credit facility, both of which are secured by assets of Care UK Health & Social Care plc, its parent company and certain of its subsidiaries.