Prestige Brands Completes Acquisition Financing
Date: 01/31/12Cahill represented Morgan Stanley, Citigroup and RBC Capital Markets as joint book-running managers and Deutsche Bank Securities as co-manager in the Rule 144A/Reg S offering of $250,000,000 8.125% Senior Notes due 2020 by Prestige Brands, Inc. The proceeds were used in connection with the acquisition of certain North American over-the-counter healthcare brands from GlaxoSmithKline as well as to refinance existing indebtedness.
Cahill also represented Citibank as administrative agent and Citigroup, Morgan Stanley and RBC Capital Markets as lead arrangers in connection with both a $660,000,000 Term Loan Facility and a $50,000,000 Asset Based Loan Facility for Prestige Brands. The proceeds of the Term Loan were used for the same purposes as the Senior Notes, and the ABL will be used for general corporate purposes.