Simpson Thacher Represents ClubCorp Club Operations, Inc. in $415 Million Offering of Senior Notes
12.02.10
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The Firm represented ClubCorp Club Operations, Inc. (“ClubCorp”) in connection with its Rule 144A and Regulation S offering of $415 million aggregate principal amount of 10% Senior Notes due 2018. Concurrently with the closing of the offering, ClubCorp entered into new senior secured credit facilities.
ClubCorp used the net proceeds from the offering of the Notes and borrowings under its new senior secured credit facilities to retire certain of its existing indebtedness maturing in 2012.
ClubCorp is one of the largest owners and managers of private golf, country, business, sports and alumni clubs in North America, with a network of clubs that includes over 150,000 memberships and 350,000 individual members.
The Simpson Thacher team for this transaction included: William Brentani, Kyle Wirth, Kate Edwards and Daniel Daneshrad (Capital Markets); Tom Wuchenich, Jeffrey Joseph and Joshua Pollick (Private Funds); Sean Austin (Tax); Victoria Stewart (Executive Compensation and Employee Benefits); Julie Levy (Labor); and Michael Isby and Timothy Mulvihill (Environmental). Paralegals Julian Chen (Los Angeles) and Yvonne Colebank (New York) also provided invaluable assistance.