NEWS

Paul Hastings Global Leveraged Finance Group Reports Highly Active Fourth Quarter

January 14, 2019

New York -- The Global Leveraged Finance Group closed out 2018 with an extremely active fourth quarter.  During the closing months of 2018 the practice represented lenders, underwriters and borrowers in over 50 leveraged finance transactions.  Highlights for the quarter include the following:

• Represented the lead arrangers and joint bookrunners with respect to first lien senior secured credit facilities provided in connection with KKR’s A$1.8 billion agreed acquisition of MYOB Group Limited.

• Represented the joint lead arrangers and bookrunners with respect to $1.495 billion in senior secured credit facilities to be provided in connection with Victory Capital Holdings, Inc.’s agreed acquisition of USAA Shareholder Account Services, USAA Asset Management Company and Harvest Volatility Management.

• Represented the lead arrangers and bookrunners with respect to senior secured credit facilities provided in connection with Starwood Energy’s $1.23 billion acquisition of combined-cycle gas turbine power plants from Dominion Energy.

• Represented the lead arrangers and bookrunners with respect to $1.275 billion of term loans borrowed by CSC Holdings, LLC and the dealer managers and solicitation agents with respect to exchange offers and consent solicitations for $5.5 billion of high yield notes issued by Altice US Finance I Corporation and Cequel in connection with Altice USA, Inc.’s combination of its Suddenlink and Optimum businesses under a single credit silo.

• Represented the lead arrangers and bookrunners with respect to a $650 million term loan credit facility and a $100 million asset-based revolving credit facility to be provided in connection with the agreed $1 billion acquisition of Electro Scientific Industries, Inc. by MKS Instruments, Inc.

• Represented the joint lead arrangers and bookrunners with respect to a $900 million multi-currency asset-based revolving credit facility provided to JBS USA Food Company.

• Represented the sole lead arranger and bookrunner with respect to $525 million exit credit facilities in connection with the emergence from Chapter 11 of the U.S. Bankruptcy Code by Mattress Firm, Inc. Previously, Paul Hastings represented the lead arrangers and bookrunners with respect to $250 million debt-in possession credit facilities in connection with Mattress Firm’s voluntary petition for relief filed under Chapter 11.

In addition, the Global Leveraged Finance Group signed and/or closed noteworthy transactions in the fourth quarter of 2018 representing leading commercial and investment banks in transactions for prominent private equity firms including Advent, AE Industrial Partners, AEA Investors, Apax, Ares, Bain, Centerbridge, Golden Gate Capital, Palladium Equity Partners, Permira, Stone Point and TPG.

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