Simpson Thacher represented Platin 1426. GmbH, a Blackstone portfolio company and the direct parent of Schenck Process, in connection with its Rule 144A and Regulation S offering of €125 million in aggregate principal amount of 6.875% Senior Secured Notes due 2023. The bond offering closed on August 3, 2018.
The gross proceeds of the bond offering will primarily be used to repay the outstanding borrowing under a bridge facility agreement, which was used to finance Schenck Process’ acquisition of Raymond Bartlett Snow, which was completed on June 29, 2018.
Schenck Process, headquartered in Germany, is a leading global provider of equipment and mission-critical solutions to diverse markets, including construction, minerals & metals as well as food, chemicals and plastics. Raymond Bartlett Snow, headquartered in Illinois, is a global designer and supplier of new equipment, aftermarket parts and services to the pulverizing and thermal processing markets.
The Simpson Thacher team included Gil J. Strauss, J. Hillyer Jennings, John Loubriel and Alice Prinsley (Capital Markets); Antti I. Pesonen, Alexander Volsky and Harriet Bamford (Credit); and Meredith B. Jones, William Smolinski and Kelli Rivers (Tax).