The Firm is representing JPMorgan Chase Bank, N.A. in providing up to $5.425 billion of committed financing in connection with II-VI Incorporated’s acquisition of Coherent, Inc. II-VI intends to use the net proceeds of the debt financing to finance the cash consideration of the transaction and for general corporate purposes.
In addition to proceeds from the debt financing, II-VI plans to finance the merger with cash on hand from the combined company balance sheets and proceeds from the issuance of new II-VI convertible preferred stock and common stock.
II-VI is a global leader in engineered materials and optoelectronic components and is a vertically integrated manufacturing company that develops innovative products for diversified applications in the industrial, optical communications, aerospace & defense, life sciences, semiconductor capital equipment, and consumer markets.
The Simpson Thacher team for the transaction includes Patrick Ryan and Christine Marshall (Credit); Art Robinson, Lesley Peng, Catherine Ciriello and Ben Kloss (Capital Markets); Sophie Staples and Abigail Hopper (Tax); Andrew Blau, Pasco Struhs and Allison Sweeney (Executive Compensation and Employee Benefits); Genevieve Dorment and Kate Mirino (Intellectual Property); and Michael Isby (Environmental).