Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a 144A/Regulation S offering of $400 million aggregate principal amount of 4.25% Senior Notes due 2031 by Atkore Inc. (“ATKR”). The notes are guaranteed on a senior unsecured basis by each of ATKR’s existing and future subsidiaries that are borrowers under or that guarantee its senior secured credit facilities.
Simpson Thacher also represented JPMorgan Chase Bank, N.A., as administrative agent, in providing a new $400 million senior secured term loan credit facility to ATKR’s subsidiary, Atkore International, Inc.
ATKR intends to use the net proceeds from the notes offering, together with borrowings under its new term loan credit facility, to repay all amounts outstanding under its existing term loan credit facility (including accrued and unpaid interest with respect to such amounts) and pay all fees and expenses related to the notes offering, the new term loan credit facility and such repayment. Any remaining net proceeds will be used for general corporate purposes.
ATKR (NYSE: ATKR) is a leading provider of electrical, safety and infrastructure solutions.
The Simpson Thacher team included Art Robinson, David Azarkh, Matt Petrone and Mari Zaldivar (Capital Markets); Jessica Tuchinsky, Dorothy Anne Hector and Humberto Romero Carrillo (Credit); Jonathan Cantor, Eli Shalam and Edward Grais (Tax); Genevieve Dorment and Corina McIntyre (Intellectual Property); Jennifer Neilsson (Executive Compensation and Employee Benefits); Michael Isby (Environmental); and Jennie Getsin (Blue Sky). Summer Associate Matthew Acosta also provided valuable assistance.