Debenture: management buyouts

This debenture has been drafted for use in connection with a management buyout to secure the borrowing obligations of the buyout vehicle and with the debt providers for management buyouts in mind. It may, therefore, not be appropriate for other or more general commercial purposes.

For a facility agreement which can be used to document the financing of an acquisition of a private limited company, see Standard document, Facility agreement: management buyouts.

For further details on financing management buyouts, see Practice note, Acquisition finance: debt for buyouts.

For information on the law and commercial reasons behind the provisions in a standard debenture, see Standard document, Debenture. Whilst not tailored specifically to the provisions in this debenture for management buyouts, the drafting notes to that standard document provide a useful commentary on the provisions commonly found in a debenture.

Julian Howard, Macfarlanes. Updated by PLC Finance


 

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