Simpson Thacher Represents MDC Partners Inc. in its $225 Million Senior Notes Offering and $75 Million Revolving Credit Facility
10.29.09
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Simpson Thacher represented MDC Partners Inc. (“MDC”) in connection with a Rule 144A/Regulation S offering of $225,000,000 aggregate principal amount of its 11% Senior Notes due 2016, fully and unconditionally guaranteed by all of its wholly owned subsidiaries. MDC used a portion of its net proceeds from the notes offering to terminate its senior secured credit facility and to repay the outstanding balance thereunder. Simpson Thacher also represented MDC and certain of its subsidiaries in connection with the entry into a replacement $75,000,000 revolving credit facility. MDC intends to use the remaining net proceeds of these transactions to redeem its outstanding convertible debentures and for general corporate purposes. The notes offering and credit facility closed on October 23, 2009.
The Simpson Thacher team included: Risë Norman, Lia Toback and Ashwin Cheriyan (Corporate); Frank Huck, Jason Hwang, Sean Crnkovich and Andrea Sung (Credit); Jennifer Klein (Tax); Mindy Lok (Intellectual Property); and Jeanne Annarumma, Jamin Koslowe and Eric Sarabia (Executive Compensation and Employee Benefits). Paralegals Alexandra Greene and Brian Gartner also provided valuable assistance.