Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities Ltd., in connection with the issue and sale by Bormioli Rocco Holdings S.A. of €250 million aggregate principal amount of 10% Senior Secured Notes due 2018, pursuant to Rule 144A and Regulation S. The notes are guaranteed by the issuer’s parent company. The issuer used the net proceeds of the offering to repay amounts borrowed under a €260 million bridge credit facility arranged by J.P. Morgan Limited in connection with the acquisition of Bormioli Rocco & Figlio S.p.A. by funds advised by Vision Capital. Simpson Thacher also represented J.P. Morgan Limited, as sole lead arranger, J.P. Morgan Europe Limited, as administrative agent and security agent, and JPMorgan Chase Bank, N.A., Milan Branch and J.P. Morgan Europe Limited, as initial lenders, in connection with this bridge credit facility.
Bormioli Rocco is a leading manufacturer of glass and plastic-based products for home and industrial use, which operates nine production facilities, three decorative ateliers, twelve outlet stores and one flagship store, and has a presence in over 100 countries and a global workforce of over 2,500 employees.
The Simpson Thacher team included Greg Conway, Mark Brod, Sinjini Saha, Carol Daniel and Oliver Vallee (Capital Markets); Justin Benford and Jonathan Hwang (Credit); Meredith Jones and Adam Wells (Tax); and Jeanne Annarumma (Executive Compensation and Employee Benefits). Summer associate Jariel Rendell also provided valuable assistance.