Simpson Thacher represented CWT Travel Holdings, Inc. (“CWT”) in a private placement of convertible preferred stock. Net proceeds from the offering will be used to increase CWT’s flexibility to underpin strategic opportunities that will help accelerate growth, expand its competitive advantage and broaden value for its customers.
CWT is a global business travel and meetings specialist, with whom companies and governments partner to keep their people connected, in traditional business locations and some of the most remote and inaccessible parts of the globe. A private company – owned through funds managed by a group of leading global financial institutions including Barings, MacKay Shields, and Monarch Alternative Capital – CWT provides its customers’ employees with innovative technology and an efficient, safe and sustainable travel experience.
The Simpson Thacher team included Roxane Reardon, Marisa Stavenas, Kirsten Harmon and Jonathan Schwartz (Capital Markets); Justin Lungstrum and Robert Meyer (Banking & Credit); Marcy Geller, Bill Smolinski and Michael Mann (Tax); and David Rubinsky and Laura Gallo (Executive Compensation and Employee Benefits). Tony Rim and Siak Goh provided valuable assistance.