Simpson Thacher represented Capstone Borrower, Inc. (“Cvent”) in connection with a Rule 144A/Regulation S offering of $100 million aggregate principal amount of 8.000% Senior Secured Notes due 2030. The offering closed on May 16, 2024.
In addition, the Firm represented Cvent in connection with the refinancing of all its outstanding senior secured term loan facility and the incurrence of new term loans in an aggregate principal amount of $567 million.
Cvent used the net proceeds of the notes offering, together with the net proceeds of the new term loans and cash on hand, to refinance all of its outstanding term loans under the existing term loan credit agreement and/or for general corporate purposes, and to pay fees, costs and expenses related to the notes offering.
Cvent is a leading meetings, events and hospitality technology provider that delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging, impactful experiences.
The Simpson Thacher team for the transaction included Jonathan Ozner, Adriana Estor-Restrepo and Nate Yang (Capital Markets); Brian Gluck, Adam Moss and Michael Ratay (Banking and Credit); William Allen and Louis Argentieri (M&A); Jon Pall (Collateral); Bobbie Burrows and Kate Mirino (Intellectual Property); Jeanne Annarumma (ERISA); Jonathan Goldstein, Jonathan Cantor, Edward Grais and Mohanad Salaimi (Tax); Caitlin Lucey and Sara Mazurek (Executive Compensation and Employee Benefits); Jennie Getsin (FINRA and Blue Sky); and Toby Chun and Deepa Sarkar (Environmental).