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Legal News

Cahill Represents Debt Financing Sources in $5 Billion Acquisition of Tomkins plc

Date: 10/05/10

Cahill represented Citibank, N.A., as Administrative Agent, Citigroup Global Markets Inc., Banc of America Securities LLC, Barclays Capital, RBC Capital Markets, as Joint Lead Arrangers and Joint Bookrunners, and others in connection with $2,300,000,000 of secured credit facilities comprised of $300,000,000 Term A Loans, $1,700,000,000 Term B Loans and a $300,000,000 Revolving Credit Facility to partially finance the acquisition of Tomkins plc by a company formed by Onex Corp. and the Canada Pension Plan Investment Board.

Cahill also represented Banc of America Securities LLC, Citigroup Global Markets Inc., Barclays Capital Inc., RBC Capital Markets Corporation, UBS Securities LLC, Scotia Capital (USA) Inc. and SunTrust Robinson Humphrey, Inc. in the Rule 144A/Reg S Offering of $1,150,000,000 9% Senior Secured Second Lien Notes due 2018 by Pinafore, LLC and Pinafore, Inc. to also partially finance the acquisition.

The acquisition of Tomkins plc is reported to be the largest leveraged buyout completed in 2010, with a total transaction value (including assumed debt) of $5 billion.