Cahill Represented the Initial Purchasers in $785 Million First-Priority Senior Secured Notes Offering for Photo Holdings Merger Sub, Inc. in connection with Photo Holdings Merger Sub, Inc.’s acquisition of Shutterfly, Inc.
Date: 09/25/19
Cahill represented the initial purchasers in connection with a Rule 144A offering of $785,000,000 aggregate principal amount of 8.50% first-priority senior secured notes due 2026 for Photo Holdings Merger Sub, Inc. (which was merged with and into Shutterfly, Inc.). Proceeds from the offering were used to finance a portion of the acquisition of Shutterfly, Inc. by Photo Holdings Merger Sub, Inc.