Simpson Thacher Represents Banks in $450 Million Notes Offering and $2 Billion Credit Facilities by Michael Kors for Its Acquisition of Jimmy Choo
10.30.17
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The Firm represented the initial purchasers, led by J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC, in connection with a Rule 144A/Regulation S offering of $450 million aggregate principal amount of 4% Senior Notes due 2024 issued by Michael Kors (USA), Inc. and guaranteed by Michael Kors Holdings Limited and certain of its subsidiaries. The Firm also represented the arrangers in connection with a $1 billion revolving facility and an aggregate $1 billion term loan facility for Michael Kors Holdings Limited and certain of its subsidiaries. Michael Kors intends to use the proceeds from the notes offering and the term loan facility to finance, in part, the pending acquisition of Jimmy Choo PLC and certain related refinancing transactions.
Michael Kors Holdings Limited is a global fashion luxury brand. Jimmy Choo PLC is a premier global luxury footwear and accessories brand.
The Simpson Thacher team included Patrick Ryan, Michael Vernace and Leah Nudelman (Credit); John C. Ericson, Jean Park and Taylor Steele (Capital Markets); James Connor (U.K. Corporate); Jonathan Cantor and Sarah Katz (Tax); Lori Lesser, Kate Stein and Cecillia Xie (Intellectual Property); Timothy Mulvihill (Environmental); Larry Moss and Monisha Bhayana (ECEB); and Andrew Pagliughi (Blue Sky).