We are advising the lead arranger, initial lender and administrative agent on the financing

Davis Polk is advising the lead arranger, initial lender and administrative agent in connection with a four-year senior unsecured £212 million term loan that will be available to FirstCash to support its proposed takeover of Ramsdens Holdings plc. Ramsdens is listed on the London Stock Exchange. It is intended that the acquisition will be implemented by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act. The transaction implies an enterprise value of Ramsdens of approximately £203 million.

FirstCash is an international operator of pawn stores with more than 3,300 retail pawn stores in 29 U.S. states and the District of Columbia, the United Kingdom and in Latin America, which includes all the states in Mexico and the countries of Guatemala, Colombia and El Salvador. FirstCash buys and sells a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments and other merchandise, and make small non-recourse pawn loans secured by pledged personal property.Ramsdens is a diversified financial services provider and retailer, operating in the four core business segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of second hand and new jewelry. It operates from over 170 stores within the United Kingdom.

The Davis Polk finance team includes partners Kenneth J. Steinberg and Aaron Ferner, counsel Jeffrey (Man To) Hon and associates Claudia Herron and Elizabeth N. Hadley. Counsel Dustin Plotnick is providing tax advice. Counsel Will Schisa and associate Josh Slifka are providing national security advice. The corporate team includes counsel Joseph Scrace and associate Daniel Lindars. Members of the Davis Polk team are based in the New York, London and Washington DC offices.

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