Simpson Thacher represented Acelity L.P. Inc. (“Acelity”) in connection with the Rule 144A and Regulation S offering of $190 million aggregate principal amount of 7.875% first lien senior secured notes due 2021 by Kinetic Concepts, Inc. and KCI USA, Inc. (the “Issuers”), Acelity’s wholly owned subsidiaries. Acelity intends to use the proceeds from the offering, together with cash on hand, to repay the remaining portion of the non-extended term loan borrowings under the Issuers’ Senior Dollar Term E-1 Credit Facility due to mature on May 4, 2018, together with accrued interest thereon, and to pay fees and expenses related to such repayment, the previously completed amendment and extension of the Issuers’ senior secured credit facilities and the offering. The notes will be treated as a single series with the $400 million of 7.875% first lien senior secured notes due 2021 that were issued by the Issuers on February 9, 2016.
Acelity is a leading global medical technology company committed to the development and commercialization of advanced wound care and regenerative medicine solutions.
The Simpson Thacher team included Kenneth Wallach, Sunny Cheong, Benjamin Heriaud and Mark Viera (Capital Markets); Gary Mandel, Jonathan Cantor and Sophie Staples (Tax); Brian Robbins, Jeannine McSweeney, Joo Hyun Lee and Monisha Bhayana (Executive Compensation and Employee Benefits); and Joia Lee (Public Company Advisory Practice).