Michael Dakin, a high yield specialist, has extensive experience advising private equity sponsors, issuers and underwriters on high yield debt and leveraged finance transactions in Europe, the United States and Asia.
Michael is Vice-Chairman of the Board of Directors of AFME High Yield, has spoken at numerous conferences and seminars and is an adjunct professor of finance.
- A consortium comprised of Macquarie Infrastructure and Real Assets (MIRA) and Danish pension funds in connection with their certain funds acquisition financing of TDC, a Danish telecommunications operator. The financing structure consisted of €1.4bn (equivalent) Senior Notes and a €3.9bn Term Loan B.
- EQT and CBR Fashion Group, a leading fast fashion wholesaler in Germany in relation to CBR’s issuance of €450m Senior Secured Notes and Super Senior Revolving Credit Facility. The high yield notes were used to refinance CBR’s existing term debt.
- The controlling shareholders (including Mumtalakat) and the McLaren Group in connection with the high yield financing for the acquisition of Ron Dennis' shareholdings in the McLaren Group as well as to repay certain existing indebtedness.
- Pharmaq (a Permira portfolio company) in connection with a NOR750 million Floating Rate Notes issuance
- Dometic Group AB (and EQT) in connection with the issuance of EUR€314 million PIK Toggle Notes due 2019 and the tender offer for all the company’s existing PIK Notes due 2019
- ING, BNP Paribas, et al in connection with the EUR€125 million 5.125% Senior Notes issuance by Sarens Finance Company NV
- Daisy Group plc / the acquiring consortium in connection with the certain funds financing of the GBP£494 million take-private transaction
- China National Chemical Corp and a consortium in connection with the financings of their USD$7.7 billion take-over of Pirelli & C. SpA
- Cinven on the issuance of EUR€306 million of 8.25% Senior Notes in connection with the CeramTec GmbH acquisition
Clifford Chance advises underwriters on EUR 1.8 billion debut bond issuance by Logicor
20 November 2018
Clifford Chance advises initial purchasers on EUR 550 million debut high yield green bonds issuance by Getlink
22 October 2018
Clifford Chance advises Cinven on sale of German CeramTec
12 October 2017
Clifford Chance advises McLaren Group on the combination of McLaren Automotive and McLaren Technology Group
20 July 2017
Clifford Chance advises Cinven on its £2.3bn of sale of AMCo to Concordia
8 September 2015
Global M&A Toolkit
- Michael highlights recent developments in the debt capital markets (January 2014)
SEC Adopts Amendments to Further Modernize and Simplify Disclosure Requirements
10 April 2019
European High Yield: looking back to look forward
17 January 2019
SEC Adopts Amendments to Update and Simplify Its Disclosure Requirements – A Guide for Foreign Private Issuers
11 September 2018
SEC Amends Rule 701 to Ease Disclosure Burdens for Certain Share Offerings to US Employees
3 August 2018
NYSE Restricts Material News Releases Shortly After Official Close
29 December 2017
Awards and citations
- Michael Dakin is described as "very smart and thoughtful and a very cool and pragmatic head under pressure" and praised for his ability to "think outside of the box when coming up with solutions".
Chambers UK 2019
- Michael Dakin is "well organised, creative and focused on delivering excellent service"
Legal 500 UK 2018