Simpson Thacher represented WASH Multifamily Acquisition Inc. (“WASH”) in connection with its inaugural Rule 144A/Regulation S offering of $850 million aggregate principal amount of 5.75% senior secured notes due 2026. Simpson Thacher also represented WASH in connection with its entry into a new senior secured revolving credit facility.
WASH used a portion of the net proceeds from the notes offering to repay in full its existing credit facilities and pay related fees and expenses. WASH intends to use any remaining proceeds for general corporate purposes.
WASH is a leading provider of route-based outsourced laundry services in North America.
The Simpson Thacher team included Brian Steinhardt, Patrick Wolff and Chris Zheng (Credit); Hui Lin, Eva Kang, Richard Ragusa, Catherine Ciriello, Benjamin Pittenger and Gianna Ceophas (Capital Markets); Jon Cantor and Abigail Hopper (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Genevieve Dorment and Bobbie Burrows (Intellectual Property); Jon Pall (Collateral); Abram Ellis and Avia Gridi (Regulatory); and Adeeb Fadil and Noreen Lavan (Environmental).