Paul Hastings Advised Initial Purchasers in Jones Deslauriers/Navacord’s Add-On Secured Notes Offering

Paul Hastings LLP advised BofA Securities, BMO Capital Markets, CIBC Capital Markets, Deutsche Bank Securities, KKR, MUFG, and TD Securities in connection with the add-on offering of $100 million aggregate principal amount of 8.500% senior secured notes due 2030 by Jones DesLauriers Insurance Management Inc./Navacord Corp., a company controlled by private equity sponsor Madison Dearborn Partners and one of Canada’s fastest growing multi-line insurance brokers.

Following the inaugural high-yield bond offering in December 2022 and the initial secured high-yield bond offering in March 2023, this add-on marks the third successful offering by Navacord in four months led by Paul Hastings.

New York partner John Cobb and London partner Max Kirchner led the cross-office Paul Hastings team, which also included associates Justin Zeizel and Ben Winnick.

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