MDC Partners Completes $900 Million Senior Notes Offering
03.23.16
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Simpson Thacher represented MDC Partners Inc. (“MDC”) in connection with a Rule 144A/Regulation S offering of $900 million aggregate principal amount of its 6.5% senior unsecured notes due 2024, guaranteed by all of its existing and future subsidiaries that guarantee its amended and restated senior secured revolving credit facility. MDC used the net proceeds of the offering to redeem all $735 million aggregate principal amount of its 6.75% senior notes due 2020, to pay accrued interest, related premiums, fees and expenses, and to repay outstanding borrowings, if any, under its senior secured revolving credit facility. Any remaining net proceeds will be used for general corporate purposes, including funding of deferred acquisition consideration. The notes offering closed on March 23, 2016.
The Simpson Thacher team included Risë B. Norman, Tadashi Okamoto and Kyle Spies (Capital Markets); Jon Cantor and Taylor Alexander (Tax); Christopher Brown and Mike Vernace (Credit); Michelle Morad and Alexander Raytman (Intellectual Property); and Jeanne Annarumma and Nadine Mompremier (Executive Compensation and Employee Benefits).