Simpson Thacher Represents Initial Purchasers in $600 Million Senior Notes Offering by The ServiceMaster Company
02.17.12
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The Firm recently represented the initial purchasers, led by J.P. Morgan, in the offering of $500 million of 8% Senior Notes due 2020 (the “Notes”) and the add-on offering of $100 million of Notes by The ServiceMaster Company pursuant to Rule 144A and Regulation S. The net proceeds of the offering are being used to redeem a portion of ServiceMaster’s 10.75% / 11.50% Senior Toggle Notes due 2015.
With a global network of more than 6,900 company-owned, franchise and licensed locations, ServiceMaster is one of the world’s largest residential and commercial service networks. The company’s brands are TruGreen, Terminix, American Home Shield, ServiceMaster Clean, Merry Maids, Furniture Medic and AmeriSpec. The company provides services in residential and commercial lawn, tree and shrub care, termite and pest control, home warranties, furniture repair, home inspections, residential and commercial cleaning and disaster restoration.
The Simpson Thacher team for this transaction included John Ericson, Reece Hunt, Michael Lopez and Brittany McCants (Capital Markets); Andrew Purcell (Tax); Timothy Mulvihill (Environmental); Aimee Adler and Craig Katerberg (Executive Compensation & Employee Benefits); Marcela Robledo and Andrew Blumberg (Intellectual Property); Steven DeLott (Insurance); and Andrew Pagliughi (Blue Sky).