Simpson Thacher is representing Goldman Sachs Lending Partners LLC, Morgan Stanley Senior Funding, Inc., Royal Bank of Canada and Toronto-Dominion Bank in the senior secured and mezzanine acquisition financings in connection with the sale of Husky International Ltd. (“Husky”) from Onex Corp. to Berkshire Partners and OMERS Private Equity. The financing commitments entered into in connection with the acquisition consist of $1.030 billion of senior secured credit facilities and $570 million of unsecured mezzanine notes.
Husky, based in Bolton, Ontario, makes equipment that is used to manufacture plastic products like bottles and caps for beverages, containers for food, medical devices and consumer electronic parts. It has customers in more than 100 countries and plants in Canada, the United States, Luxembourg and China.
The proceeds of the credit facilities and mezzanine notes will be used to finance the acquisition and to refinance certain existing indebtedness.
The Simpson Thacher team includes Justin Lungstrum, Jim Doyle, Eli Isak and Seth Niedermayer (Credit); Andy Keller (Capital Markets); Edward Chung (M&A); Jonathan Cantor and Amie Broder (Tax); Brian Robbins and David Cheng (Executive Compensation and Employee Benefits); Marcela Robledo (Intellectual Property); Michael Isby (Environmental); and Krista McManus (Real Estate).