Simpson Thacher Represents Royal Bank of Canada as Administrative Agent in Financing Related to Ontario Teachers’ Pension Plan Board’s Buyout of Vantage
12.13.21
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The Firm represented Royal Bank of Canada, as administrative agent, in connection with the financing backing Ontario Teachers’ Pension Plan Board’s buyout of Vantage Elevator Solutions (“Vantage”). The financing included (i) initial term loans in an aggregate principal amount of $525 million, (ii) an initial revolving credit facility with an initial available amount of $85 million and (iii) term loans under the Second Lien Credit Agreement in an aggregate principal amount of $210 million.
Vantage is a leading North American elevator component manufacturer, providing a broad portfolio of parts and components used in elevator systems, including door operators, traction machines and controllers, among others.
The Simpson Thacher team included William Sheehan and Robert Meyer (Banking and Credit); Michael E. Mann and Lina Pan (Tax); Genevieve Dorment (IP); Jeanne M. Annarumma, J. Pasco Struhs and Hannah Daniels (Executive Compensation and Employee Benefits); and Krista McManus and Stephanie Brenner (Real Estate).