Shearman & Sterling has advised private equity firm Advent International on its offering of £240 million bonds in DFS Furniture Holdings plc. The offer closed on July 29.

In April, Advent bought DFS, Britain's largest sofa retailer, from its founder, Lord Kirkham. The funds raised by the bond offering will enable Advent to repay Lord Kirkham for financial interests he still had in the business through a vendor loan note and retained equity.

The firm also advised Advent in connection with entering into a new multi-currency revolving credit facility.

The Shearman & Sterling team of lawyers in the firm's London office was led by capital markets partner Jacques McChesney. He was assisted by associates Apostolos Gkoutzinis, Rob Beard, Tasha Matharu and Tom Lewis and trainees Vikki Fabian, Tom Berisford and Seema Chandaria. Finance partner Anthony Ward, counsel Peter Hayes and associate Jackson Lam advised on the revolving credit facility. Partner Clare Breeze advised on the property-related aspects of the transaction. Partner Iain Scoon and associate James Leslie advised on tax aspects of the offering.