HomeServe in Raising of New Facilities to Refinance Existing Facilities

Cleary Gottlieb represented Brookfield and HomeServe EMEA in the raising of £325 million and €460 million term debt facilities and a £150 million RCF in order to fully refinance its existing sterling and euro loans under a senior bridge facility.

HomeServe EMEA is a leading provider of repair and maintenance policies, HVAC installation, financing and servicing, and emergency and on-demand home assistance. It employs over 7,000 people and serves 3.6 million homeowners across the UK, France, Spain, Germany, and Japan, through a range of subscription-based home emergency cover products. The business also helps consumers connect with their 50,000 vetted and trusted local tradespeople through digital online platforms, which include Checkatrade in the UK.

Across Europe, HomeServe is also playing a key role in the “green revolution.” Over 25% of all residential heating and cooling installations undertaken by the organization are now low carbon, and the business is strategically investing in various new consumer products that will make environmentally friendly technologies increasingly accessible for homeowners. This will reduce the carbon footprint of our homes and benefit the environment over the long term.