Simpson Thacher recently represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, as dealer manager and solicitation agent, for (1) the offer by IHS Markit Ltd. (“IHS Markit”) to exchange the outstanding 5% Senior Notes due 2022 issued by IHS Inc. (the “IHS Notes”) for new 5% Senior Notes due 2022 issued by IHS Markit and cash and (2) the solicitation of consents from holders of the IHS Notes to certain amendments to the indenture governing the IHS Notes. The exchange offer settled on July 28, 2016.
Simpson Thacher also represented Bank of America, N.A., as administrative agent, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as lead arranger and joint bookrunner, in connection with senior unsecured credit facilities for certain subsidiaries of IHS Markit, which consist of a $1.2 billion term loan facility and a $1.85 billion revolving credit facility (collectively, the “Credit Facilities”). The Credit Facilities were entered into on July 12, 2016.
The exchange offer and consent solicitation and the entry into the Credit Facilities were made in connection with the merger of IHS Inc. and Markit Ltd. to form IHS Markit, which was consummated on July 12, 2016.
IHS Markit is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government. IHS Markit has more than 50,000 key business and government customers, including 80% of the Fortune Global 500 and the world’s leading financial institutions.
The Simpson Thacher team for the transaction included Art Robinson, Marisa Stavenas, Brian Rosenzweig, Teresa Chen and Max Corey (Capital Markets); Justin Lungstrum, Adam Moss and Jennifer Albrecht (Credit); Taylor Alexander and George Davis (Tax); Paul Koppel and Jennifer Pepin (ECEB); Genevieve Dorment and Monica Chan (Intellectual Property); and Jennie Getsin (Blue Sky).