Simpson Thacher represented J.P. Morgan Securities LLC and the other initial purchasers in connection with a Rule 144A/Regulation S offering by The Brink’s Company (“Brink’s”) of $400 million aggregate principal amount of 6.500% Senior Notes due 2029 and $400 million aggregate principal amount of 6.750% Senior Notes due 2032. The offering was upsized from $400 million to $800 million.
Brink’s intends to use the net proceeds from the notes offering to redeem or repurchase the $400 million aggregate principal amount of its outstanding 5.500% Senior Notes due 2025 (the “2025 Senior Notes”) at or prior to maturity and to repay a portion of outstanding borrowings under its $1 billion revolving credit facility. Before applying a portion of the net proceeds to redeem or repurchase the 2025 Senior Notes as described above, Brink’s expects to use such portion of the net proceeds for general corporate purposes and to temporarily repay additional amounts outstanding under its revolving credit facility.
Brink’s is a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services. Its customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. Brink’s network of operations in 52 countries serves customers in more than 100 countries.
The Simpson Thacher team included Dave Azarkh, John O’Connell, Matt Petrone, Minaal Wickremesinghe and Alexis Capati (Capital Markets); Jonathan Cantor and Benjamin Bressler (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Steven DeLott (Insurance); Chandler Gerard-Reimer (Intellectual Property); and Jennie Getsin (Blue Sky). Summer Associate Emma Taylor also provided valuable assistance.