High-Yield Debt

Fact Sheet

Experience

    • Clayton, Dubilier & Rice in the financing aspects of its acquisition, together with TowerBrook Capital Partners, of R1 RCM.
    • S&S Activewear, a Clayton, Dubilier & Rice portfolio company, in its acquisition of alphabroder, including a financing of $1.175 billion, consisting of a $600 million senior secured notes offering, $575 million pari senior first lien secured term loans and an upsize to the ABL credit agreement to a total $800 million facility.
    • Focus Financial Partners in the $4.276 billion refinancing of Focus’s existing debt facilities.
    • Shearer’s Foods, a Clayton, Dubilier & Rice portfolio company, in its offering of $450 million of Senior Notes due 2032.
    • Artera Services and Clayton, Dubilier & Rice in the $2 billion comprehensive refinancing for Artera.
    • Relevant parties in the financing aspects of the £2.5 billion acquisition of 337 petrol forecourts in the UK, and more than 400 associated sites.
    • Clayton, Dubilier & Rice, and its indirect subsidiary Verde Purchaser, in $2.125 billion of financing for CD&R’s $2.6 billion acquisition of Veritiv Corporation.
    • Corebridge Financial, a majority-owned subsidiary of American International Group, in its offering of $1.0 billion of 6.875% Fixed-to-Fixed Reset Rate Junior Subordinated Notes offering due 2052.
    • Market Bidco Finco Plc, an indirect subsidiary of funds managed or advised by Clayton, Dubilier & Rice, in the offerings of £1.075 billion and €545 million of senior secured fixed rate notes relating to the financing of CD&R’s acquisition of Wm Morrison Supermarkets Limited.
    • Ambac in the issuance and sale by Sitka Holdings, its newly formed special purpose entity, of its $1.175 billion aggregate principal amount of LIBOR plus 4.50% Floating Rate Senior Secured Notes due 2026.
    • The initial purchasers in the offering and sale of $650 million 3.125% senior notes due 2031 by Global Atlantic Financial Group.
    • Clayton, Dubilier & Rice in the financing aspects of its acquisition of a majority interest in American Greetings.
    • Brand Energy and Infrastructure Services, a Clayton, Dubilier & Rice portfolio company, in its $700 million offering of senior unsecured notes in connection with the combination of Brand Energy and Safway Group.
    • Brand Energy and Infrastructure Services, a Clayton, Dubilier & Rice portfolio company, in its $3.325 billion secured credit facility and $700 million offering of senior unsecured notes in connection with the combination of Brand Energy and Safway Group.
    • High Ridge Brands, a leading personal care consumer products company and a Clayton, Dubilier & Rice portfolio company, in its $250 million offering of 8.875% senior notes due 2025.
    • HD Supply in its $1.25 billion offering of 5.25% senior secured first priority notes due 2021.
    • Corporate Risk Holdings (f.k.a. Altegrity), a global, diversified risk and information services company, together with its operating businesses Kroll, HireRight and USIS, in their pre-negotiated Chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware, in which they restructured more than $1.8 billion in indebtedness. This restructuring was honored by Turnarounds & Workouts as one of ten “Successful Restructurings 2015.”
    • Envision Healthcare, in its offering of $750 million of senior notes and in its $1.1 billion initial public offering of common stock.
    • Reynolds Group in its $590 million offering of 6.000% senior subordinated notes due 2017 and $650 million offering of 5.625% senior notes due 2016.
    • Rexel in its concurrent €650 million offering of 5.125% senior notes and $500 million offering of 5.250% senior notes, both due 2020.
    • HD Supply in its $675 million 11% senior secured second priority notes due 2020, $1.525 billion 11.5% senior notes due 2020 and $950 million 10.5% senior subordinated notes due 2021.
    • Hertz in issuing $1.5 billion of high yield bonds to finance its acquisition of Dollar Thrifty.
    • Reynolds Group in its $1.5 billion offering of 7.875% senior secured notes due 2019 and $1.0 billion offering of 9.875% senior notes due 2019, in connection with its acquisition of Graham Packaging.
    • Warner Music Group in its offering of $500 million of 6.000% senior notes due 2021 and €175 million of 6.250% senior secured notes due 2021 in related refinancing transactions.
    • Getty Images, a Carlyle portfolio company, in its $550 million offering of 7.000% senior notes due 2020.
    • David's Bridal, a Clayton, Dubilier & Rice portfolio company, in its $270 million offering of 7.75% senior notes due 2020.
    • CDRT Holding Corporation (Emergency Medical Services) in its $450 million offering of 9.25%/10.00% senior PIK toggle notes due 2017.
    • Reynolds Group in its $3.25 billion offering of 5.75% senior secured notes due 2020, at the time the third-largest single-tranche issue on record in the high-yield market and the largest issue since 2008.
    • Domtar in its $250 million offering of 6.25% senior notes due 2042.
    • The ServiceMaster Company in its $750 million offering of 7.000% senior notes due 2020.
    • WMG Acquisition in its $150 million offering of senior secured notes due 2016, $765 million offering of 11.50% senior notes due 2018, and WMG Holdings in its $150 aggregate principal amount of 13.75% senior notes due 2019, on the acquisition of Warner Music Group’s entire recorded music and music publishing businesses by Access Industries.
    • The ServiceMaster Company in its $100 million and $500 million offerings of 8% senior notes due 2020.