Simpson Thacher Represents Initial Purchasers in Offering of $260 Million Senior Subordinated Notes by Michaels Stores, Inc.
12.27.13
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Simpson Thacher recently represented the initial purchasers, led by Deutsche Bank Securities, in connection with the offering of $260 million aggregate principal amount of Senior Subordinated Notes by Michaels Stores, Inc. The net proceeds of the offering will be used to redeem Michaels Stores, Inc.’s outstanding Senior Subordinated Notes due 2016.
Michaels Stores, Inc. is North America’s largest arts and crafts specialty retailer and is controlled by Bain Capital and The Blackstone Group.
The Simpson Thacher team included Rhett Brandon, John Ericson, Xavier Kowalski, Ben Wells and Adam Weiner (Capital Markets); Jonathan Cantor and Jodi Sackel (Tax); Michael Isby (Environmental); Jamin Koslowe and Scott Mathias (Executive Compensation and Employee Benefits); Samantha Himelman (Intellectual Property); and Andrew Pagliughi (Blue Sky).