Cahill Represents Debt Financing Sources in Buyout of CommScope by The Carlyle Group
Date: 01/14/11
Cahill advised JPMorgan Chase Bank, N.A. as Administrative Agent and Collateral Agent in connection with $1.4 billion of secured credit facilities comprised of a $1,000,000,000 term loan and $400,000,000 multi-jurisdictional asset based revolving credit facility to partially fund the acquisition of international telecommunications and cable provider CommScope, Inc. by The Carlyle Group.Cahill also represented J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., RBC Capital Markets, LLC and Mizuho Securities USA Inc. as initial purchasers in the Rule 144A/Reg S Offering of $1,500,000,000 8.25% Senior Notes due 2019 by CommScope, Inc. to also partially finance the acquisition.
The acquisition of CommScope is reported to be the third largest leveraged buyout announced in 2010, with a total transaction value (including assumed debt) of $4.7 billion.