Experience

• • PetSafe Brands, a Clayton, Dubilier & Rice portfolio company, in the $925 million refinancing of existing debt facilities.
  • Windstream Holdings, a privately held fiber and cloud based communications provider, in the issuance of $800 million Senior First Lien Notes and the incurrence of a $500 million new term loan facility to refinance a portion of its outstanding indebtedness and a separate consent solicitation to modify certain terms of its $1.4 billion outstanding Senior First Lien Notes in anticipation of its proposed merger with Uniti Group.
  • 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.
  • Verizon in the financing aspects of its $20 billion acquisition of Frontier, the largest pure-play fiber internet provider in the U.S.
  • Veritiv, a Clayton, Dubilier & Rice portfolio company, on the financing for its acquisition of Orora Packaging Solutions, the North American packaging and distribution business of Orora.
  • Wilsonart, a Clayton, Dubilier & Rice portfolio company and engineered surfaces company, in its $1.8 billion refinancing consisting of a $1.1 billion Senior Secured Term Loan Facility, $500 million senior notes offering and $250 million Senior Secured Revolving Facility.
  • Clayton, Dubilier & Rice and its indirect subsidiary, Fortress Intermediate 3, in $3 billion of financing for Clayton, Dubilier & Rice’s acquisition of Presidio.
  • Wm Morrison Supermarkets in the successful completion of its debt reduction exercise.
  • Ambac in the $420 million sale of its legacy financial guarantee businesses, Ambac Assurance Corporation and Ambac UK, to funds managed by Oaktree Capital Management.
  • Ambac in the financing aspects of its acquisition of a majority stake in Beat Capital Partners in a transaction valued at approximately $282 million.
  • Windstream Holdings, a privately held fiber and cloud based communications provider, in the financing aspects of its merger with publicly held Uniti Group.
  • Clayton, Dubilier & Rice in the financing aspects of its acquisition of Presidio, a leading technology services and solutions provider, from BC Partners.
  • Clayton, Dubilier & Rice in the financing aspects of its acquisition, together with Stone Point Capital, of Truist Insurance Holdings, a subsidiary of Truist Financial Corporation, at an enterprise value of $15.5 billion.
  • Clayton, Dubilier & Rice and its indirect subsidiary Fiesta Purchaser, in $2 billion of financing of Clayton, Dubilier & Rice’s acquisition of Shearer’s Foods.
  • The Special Committee of SiriusXM in the financing aspects of its agreement to combine SiriusXM with Liberty Media’s Liberty SiriusXM tracking stock group to create New SiriusXM, a new public company.
  • 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.
  • Clayton, Dubilier & Rice in the financing aspects of its acquisition of Focus Financial Partners at an enterprise value of approximately $7 billion.
  • 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.
  • Clayton, Dubilier & Rice in the financing aspects of its acquisition of a majority stake in the industrial businesses of Roper Technologies, which operates market-leading businesses that design and develop vertical software and application-specific products, in a transaction valued at $3.7 billion.
  • Verizon in the financing aspects of its investment in Casa, a provider of physical and cloud-native infrastructure technology solutions.
  • Clayton, Dubilier & Rice in the financing aspects of its $5.8 billion acquisition of Cornerstone Buildings Brands, the largest manufacturer of exterior buildings products in North America.
  • Clayton, Dubilier & Rice in its tender offer to acquire a series of outstanding notes issued by Wm Morrison Supermarkets Plc, and a consent solicitation relating to such series of outstanding notes, as part of its £7 billion acquisition of Morrisons.
  • Clayton, Dubilier & Rice in the financing aspects of its acquisition of PwC’s Global Mobility Tax and Immigration Services practice, the global leader in employee tax, immigration, business travel, cross-border managed services, and payroll solutions to multinational organizations and their employees.
  • Covanta in its sale to EQT in a transaction valued at more than $5 billion, in which EQT acquired all shares of Covanta common stock for $20.25 per share.
  • The underwriters in the offering and sale of $750 million fixed-to-fixed rate subordinated debentures due 2051 by Global Atlantic.
  • 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.
  • Clayton, Dubilier & Rice in the financing aspects of its $6 billion acquisition and subsequent combination of Fort Dearborn and Multi-Color Corporation, to create the world's largest label solutions company.
  • The initial purchasers in the offering and sale of $650 million 3.125% senior notes due 2031 by Global Atlantic Financial Group.
  • Temasek, a shareholder of BluJay Solutions (BluJay), in the $1.7 billion sale of BluJay to E2open Parent Holdings.
  • Fifth Wall Acquisition Corp III, a special purpose acquisition company (SPAC), in its $275 million initial public offering.
  • Clayton, Dubilier & Rice in the financing aspects of its $3.7 billion take-private acquisition of UDG Healthcare.
  • Domtar in its $3 billion sale to Paper Excellence.
  • Global Atlantic (Fin) Company, a wholly-owned subsidiary of Global Atlantic Financial Limited, in the issuance of $500,000,000 aggregate principal amount of its 4.400% Senior Notes due 2029.
  • White Cap Parent in the offer and sale of $300 million of 8.25%/9.00% Senior PIK toggle notes due 2026 to fund a dividend payment to the company's equity holders.
  • Ambac in the exchange of the securities of the Corolla Trust, a Delaware statutory trust formed by Ambac Financial Group, Inc. in 2014, for Ambac Assurance Corporation’s 5.1% senior surplus notes due 2020.
  • Special Committee of R1 RCM in its conversion of all of the Series A Convertible Preferred Stock held by an investment vehicle jointly owned by Ascension and TowerBrook to common stock.
  • Ambac Financial Group, a financial services holding company, in its acquisition of Xchange Benefits and Xchange Affinity Underwriting Agency, property and casualty managing general underwriters.
  • Cornerstone Building Brands in the pricing of its $500 million offering of 6.125% unsecured senior notes due 2029.
  • Verizon in the financing aspects of its $6.25 billion acquisition of Tracfone, the largest reseller of wireless services in the U.S.
  • Clayton, Dubilier & Rice in the financing aspects of its $2.9 billion acquisition of White Cap, a leading distributor of specialty concrete and construction products, and its combination of White Cap with CSG, a leading U.S. distributor of specialty concrete and masonry accessories, for a total transaction value of approximately $4 billion. The financing for the transaction includes a $2.38 billion cash flow-based facility, a $700 million asset-based revolving facility and $640 million in senior unsecured notes.
  • Third Point Re in the financing aspects of its $788 million merger with Sirius Group.
  • Teachers Insurance and Annuity Association of America in its $1.25 billion offering of 3.300% surplus notes due 2050.
  • Syncora Holdings in its $429 million sale of Syncora Guarantee, a wholly owned subsidiary, to Star Insurance Holdings, an entity organized by GoldenTree Asset Management LP.
  • Clayton, Dubilier & Rice in the financing aspects of its $1.5 billion acquisition of Sirius Computer Solutions, a leading national IT solutions integrator.
  • Elliott Management in a $450 million equity rights offering of Roadrunner Transportation Systems, resulting in Elliott acquiring 90% of Roadrunner.
  • Nuveen, LLC in its $1 billion offering of 4.000% senior notes due 2028 guaranteed by Teachers Insurance and Annuity Association of America.
  • Clayton, Dubilier & Rice in the financing aspects of its acquisition of a majority interest in American Greetings.
  • Ambac Assurance Corporation, a Wisconsin domiciled insurance company, in a holistic restructuring transaction that involved three exchange offers of existing debt securities and other payment obligations for approximately $2.2 billion of newly issued debt securities, as well as a new-money financing collateralized by the future proceeds of certain litigation claims against RMBS originators.
  • Syncora Holdings in a reinsurance agreement with Assured Guaranty to reinsure approximately $13.5 billion of financial guaranty policies, representing 91% of Syncora's outstanding insured exposures.
  • Clayton, Dubilier & Rice and KKR & Co. L.P. as selling shareholders in a series of secondary offerings of approximately $4.5 billion of common stock of US Foods Holding Corp.
  • Verizon in its $3.1 billion acquisition of Straight Path Communications, a leading wireless spectrum holder.
  • Elliott Management in its $540 million redeemable preferred stock investment in Roadrunner Transportation Systems, a leading asset-right transportation and asset-light logistics service provider.
  • HarbourVest Partners in the sale of a portfolio of over one hundred private equity interests on behalf of a HarbourVest Partners managed account based in Europe to five independent investor groups.
  • Clayton, Dubilier & Rice and Temasek Holdings (Private) Limited as selling shareholders and Univar in the $315.6 million secondary offering of common stock of Univar.
  • Reynolds Group Holdings in the issuance of $2.1 billion senior secured fixed and floating rate notes and $800 million senior notes.
  • Providence Equity Partners and SRA in the merger of SRA with the government services unit of CSC, creating the largest pure-play IT services provider serving the U.S. government sector.
  • Verizon in its $49 billion bond offering, the largest-ever corporate bond issue, as well as over $10 billion in additional debt financing to finance, in part, Verizon’s acquisition of Vodafone Group Plc’s 45% indirect ownership interest in Verizon Wireless.
  • Stone Point Capital in a $1.34 billion senior secured term loan facility, $200 million senior secured revolving credit facility and $535 million offering of senior notes in connection with Stone Point’s significant equity investment in Alliant Insurance Services.
  • Univar in its $885 million initial public offering and concurrent private placement of $350 million of shares to Temasek and the additional purchase of 5 million shares of Univar common stock from selling stockholders by Temasek.
  • Clayton, Dubilier & Rice and Carlyle as selling shareholders and HD Supply in the $1.1 billion secondary offering of common stock of HD Supply.
  • HD Supply in its $1.25 billion offering of 5.25% senior secured first priority notes due 2021.
  • NCI Building Systems in its $245 million acquisition of CENTRIA.
  • HD Supply in its $1.1 billion initial public offering of common stock.
  • 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.
  • HD Supply in the $4.9 billion refinancing of its existing senior secured credit facilities and senior unsecured notes.
  • Reynolds Group in its $1.25 billion offering of 9.875% senior notes due 2019.
  • 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.
  • UCI International in its $400 million offering of 8.625% senior secured notes due 2019.
  • Reynolds Group in its offering of $1.125 billion and €450 million of senior secured notes relating to its acquisition of the Reynolds Consumer Products group of companies and the Closure Systems International group of companies from affiliated entities.
  • Hertz Global Holdings in its $450 million offering of 5.25% convertible senior notes and $299 million offering of common stock.
  • Reynolds Group in its $1 billion senior notes issuance and a $800 million term loan senior secured financing for the acquisition of the Evergreen businesses and the Whakatane Mill.
  • Verizon Wireless in its $4 billion offering of floating and fixed rate notes due 2011.
  • BWAY Corporation in its $228 million offering of 10% senior subordinated notes to refinance its existing senior subordinated notes.
  • Verizon in the $8.6 billion spin-off and merger of its wireline businesses in 14 states to Frontier Communications Corporation.
  • Verizon Wireless in the private financings on its acquisition of Alltel Corporation, a transaction valued at $28.1 billion.
  • MBIA in a $500 million investment by Warburg Pincus.
  • MBIA in a $1 billion investment by Warburg Pincus and a $1.15 billion public equity offering.
  • MBIA Insurance Corporation in its $1 billion surplus note offering.
  • BWAY in its $150 million initial public offering.
  • Verizon in the $13 billion spin-off of its U.S. print and Internet yellow pages directories business, forming a new public company called Idearc, and Idearc in its $2.85 billion 8% high yield note offering.
  • Hertz Global Holdings in its $1.3 billion initial public offering of common stock.
  • Clayton, Dubilier & Rice, Carlyle and Merrill Lynch Global Private Equity in the $1.8 billion offering of 8.875% senior notes, €225 million offering of 7.875% senior notes and $600 million offering of 10.5% senior subordinated notes relating to the acquisition of The Hertz Corporation
  • Lehman Brothers as lead underwriter in DSW’s July 2005 $307 million initial public offering of Class A common stock and Retail Ventures’ (DSW’s parent) August 2006 offer of mandatory exchangeable notes due 2011, exchangeable for DSW common stock.
  • Banc of America Securities, Lehman Brothers and CIBC World Markets as lead underwriters in the $160 million follow-on offering of common stock by Synagro Technologies.
  • JP Morgan Securities and Merrill Lynch as lead underwriters in Ventas Realty, Limited Partnership’s two $175 million offerings of 6.75% senior notes due 2010 and 7.5% senior notes due 2015.
  • RBC Capital Markets, Credit Suisse and Merrill Lynch & Co. as lead underwriters in the initial public offering of Enhanced Income Securities (EISs) (representing 20 million shares of Class A Common Stock and $153 million aggregate principal amount of 12% Senior Subordinated Notes due 2016) by B&G Foods.
  • Protective Life Insurance Company in the first ever publicly registered funding agreement-backed notes program and a similar program for Hartford Life. The program provides for the issuance of $3 billion of funding agreement-backed notes to institutional investors and InterNotes® to retail investors.
  • Prudential Financial in its $1 billion offering of 5.10% medium term notes due 2014.