Sarah Day

she/herPartner

We are here to make a difference, to make business better, but there is no reason that can’t also be fun when appropriate, and why we can’t always be human.

— Sarah Day July 2023

Emailsarah.day@dlapiper.com

Call+44 (0)113 369 2104

Leeds

About

Areas of FocusConsumer Goods, Food and Retail Financial Services Corporate Finance Restructuring Healthcare Media, Sport and Entertainment Mergers and Acquisitions

Professional QualificationsSolicitor of the Senior Courts of England and Wales

EXPERIENCE

Acted for a major UK bank, a prominent UK clearing bank, a leading UK retail bank, a global financial services corporation, a Northern Irish bank, and an international banking institution in the refinance of the Genuit group’s existing facilities. This was achieved through a £350,000,000 multi-currency sustainability-linked revolving facility. The group also entered into a loan note funding arrangement with a well-known institutional investor for an initial issuance of £25,000,000. We advised the clients on priority arrangements and security structure between the various funders.
Acting for a business in the sustainability technology space base in the US, Spain and the UK in relation to a new EUR40,000,000 term loan facility from a credit fund, to be used, amongst other things, to continue to expand the business.
We acted for a London listed retailing group in relation to its revolving credit facility agreement from a UK clearing bank. This is the second deal that the listed business has secured with the bank in the past 3 years and comes as the group, based in the north east of England, has recorded a strong financial performance with greatly increased sales.
We were instructed to assist an international private equity client in connection with its investment in a leading manufacturer of doors. The transaction involved an asset based refinancing of the entire existing debt stack in order to enable a rebalancing of the value proposition for the equity house. The mandate requires both support from the finance and corporate teams at DLA in both Ireland and the UK.
Advising Secure Trust Bank in respect of receivables, inventory and revolving overpayment facilities to fund the equity backed management buy out of an international home decor business, together with subsequent working capital. As well as advising on the facility documentation and subordination arrangements with loan note holders and vendors, we advised on key specific funder due diligence areas including the business transfer, transitional services arrangements, key commercial contracts and pensions liabilities.
We advised a leading global bank on a supersenior facility that was part of a refinancing for a commercial design company. It’s encouraging to see that supersenior/unitranche deals are still being done.
We also advised a prominent UK bank on facilities provided to support Modella Capital's acquisition of Hobbycraft, the largest arts and crafts retailer in the UK, and ongoing working capital. Our role included advising on finance documentation and key funder due diligence areas for asset-based lending. This is one of a series of transactions where the bank has provided ABL facilities to support private equity M&A.

Languages

Education

College of Law, Chester, LLB (First class Hons), 1990

New College, Oxford, BA Hons Modern Languages (French and German), 1988

Awards

Legal 500 “Hall of Fame” Chambers, top ranked individual

Seminars

Chaired panel on Sustainability and ABL, SFNet International Lending Conference 2023

Prior Experience

As well as her long and varied experience of finance work, Sarah has held a number of management roles in DLA Piper, including as an elected member of the Board. Most recently (2017-2023) she was UK Head for the Finance, Projects Restructuring Group.

Additional information