Cahill Represents Debt Financing Sources in $5 Billion of Debt Financings, Consisting of $750 Million Notes Offering and $4.3 Billion Credit Facilities for Central Parent and Central Merger Sub Inc., and CDK Global, Inc.
Cahill represented the initial purchasers in connection with a Rule 144A offering of $750,000,000 aggregate principal amount of 7.250% first lien notes due 2029 by Central Parent Inc. and Central Merger Sub Inc. Cahill also represented the lead arrangers in connection with a $3,600,000,000 term B credit facility and a $650,000,000 revolving credit facility for Central Parent Inc. and Central Merger Sub Inc. (to be merged on the Closing Date with and into CDK Global, Inc.). Proceeds from borrowings under the credit facility and the offering of the notes were used for the acquisition of CDK Global, Inc., the refinancing CDK Global’s existing credit agreement and other debt obligations and for general corporate purposes. Cahill also represented the dealer manager and consent solicitation agent in connection with CDK Global, Inc.’s offer to purchase any and all of its outstanding 4.500% senior notes due 2024, 4.875% senior notes due 2027 and 5.250% senior notes due 2029 and consent solicitations relating to such notes. CDK Global, Inc. is a leading global provider of technology solutions to the automotive industry.