Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities Inc., in connection with the issuance by Associated Materials, LLC and Associated Materials Finance, Inc. of $200 million aggregate principal amount of 9.875% senior secured second lien notes due 2016. The notes were co-issued by Associated Materials Finance, Inc., a wholly owned subsidiary of Associated Materials, LLC. The notes are guaranteed by, and secured with assets of, Associated Materials’ U.S. domestic restricted subsidiaries that guarantee Associated Materials’ asset-based credit facilities. Associated Materials used the proceeds from the notes to redeem all of its outstanding senior subordinated notes.
Associated Materials is a leading, vertically integrated manufacturer and North American distributor of exterior residential building products. The company distributes these products, as well as third-party manufactured products, through its extensive dual distribution network, consisting of 122 company-operated supply centers and approximately 250 independent distributors located across the United States and Canada. Associated Materials is controlled by affiliates of Investcorp International Inc. and Harvest Partners.
The Simpson Thacher team for the offering included Rhett Brandon, Max Kirchner, Michael Holick and Jeemin Chung (Securities); Erik Hepler (Collateral/UCC); Jonathan Cantor and Chang Won Choi (Tax); Mardi Merjian and Davis Coen (Real Estate); Adeeb Fadil and Noreen Lavan (Environmental); Marcela Robledo (Intellectual Property); Michael Richman, David Schneider and Jeanne Annarumma (Executive Compensation and Employee Benefits). Paralegals Mark Rapisarda and Michael Riordan also provided valuable assistance.