Delphi Corp. Completes $1 Billion Notes Offering and Amended Credit Facility
Date: 05/17/11
Cahill represented J.P. Morgan and Citi, as joint book-running managers, and the other initial purchasers in connection with a Rule 144A/Reg S offering of $500,000,000 of 5.875% senior notes due 2019 and $500,000,000 of 6.125% senior notes due 2021 by Delphi Corporation. The proceeds from the notes offering were used to repay a portion of the term loans outstanding under Delphi's credit agreement. Cahill also represented J.P. Morgan, as sole lead arranger, in connection with an amendment and restatement of Delphi's credit agreement which, among other things, increased the revolving credit facility from $500,000,000 to $1,192,000,000 and reduced the interest rates on the term loans and borrowings under the revolving credit facility.