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Firm News

Cahill Represents Financing Sources in Over $13 Billion of Debt Financing for Blackstone-Led Consortium’s Acquisition of 55% Stake in Thomson Reuter’s Financial and Risk Business

Date: 10/01/18

A Cahill team led by partners James Clark, Marc Lashbrook, Joe Slotnick, Corey Wright and Dan Zubkoff represented the initial purchasers and lead arrangers in connection with over $13 billion in financings to back Blackstone Group’s acquisition of a 55% stake in Refinitiv (for the Financial and Risk business of Thomson Reuters Corp).  The transaction has been reported as the largest private equity buyout of the year and one of the largest non-investment grade leveraged buyouts completed since the financial crisis a decade ago.

The multicurrency Rule144A/Regulation S offering was comprised of $1,250,000,000 6.250% senior first lien notes due 2026, €860,000,000 4.500% senior first lien notes due 2026, $1,575,000,000 8.250% senior notes due 2026 and €365,000,000 6.875% senior notes due 2026 by Financial & Risk US Holdings, Inc.

Cahill also represented the lead arrangers in connection with a $6,500,000,000 Term B credit facility, $750,000,000 revolving credit facility and €2,355,000,000 Term B credit facility for Financial & Risk US Holdings, Inc.