The Firm represented syncreon Global (Ireland) Limited and syncreon Global Finance (US) Inc. as co-issuers, in connection with their issuance and sale of $300 million aggregate principal amount of 9.50% senior unsecured notes due 2018. The initial purchasers were led by J.P. Morgan Securities Inc., Goldman, Sachs & Co., and KBC Financial Products USA Inc. The notes were offered and sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.
In connection with the issuance, a substantial U.S. Dollar denominated asset-backed revolving credit facility with KBC Bank NV was put in place to support the working capital needs of the syncreon group.
syncreon Holdings plc, the parent guarantor (“syncreon”), is a privately-held specialized logistics and supply chain solutions company with operations across five continents. syncreon provides these logistics services to leading automotive and technology clients, including Dell, BMW, Chrysler, Ford, GM, and Audi.
The Simpson Thacher team included, among others, Risë Norman, Yueting Liang, and David Shapiro (Capital Markets), Stephen Short and Clare Cottle (Credit), Aaron Cohen and Rian Balfour (Tax), Noah Richmond (Intellectual Property), Noreen Lavan (Environmental), Wonda Quinn, David Schneider and Jeanne Annarumma (Executive Compensation and Employee Benefits), and Scott Dyer (Labor). Kathryn Reusi and Matthew Goldberg provided paralegal support.