Media Contact:
Michelle Murray
Director of Marketing & Communications
Phone: 212.701.3614
Fax: 212.378.2410
mmurray@cahill.com

Legal News

Cahill Represents Financing Sources in Buyout of Kinetic Concepts

Date: 11/04/11

Cahill represented Morgan Stanley, BofA Merrill Lynch, Credit Suisse and RBC Capital Markets as joint book-running managers and UBS Investment Bank as co-manager in two Rule 144A/Reg S offerings of $1,750,000,000 10.5% Second Lien Secured Notes due 2018 and $750,000,000 12.5% Senior Notes due 2019 by Kinetic Concepts, Inc. The proceeds will be used to partially finance the acquisition of global wound-care and tissue-regeneration company Kinetic Concepts by an affiliate of a consortium comprised of investment funds advised by Apax Partners and controlled affiliates of Canada Pension Plan Investment Board and the Public Sector Pension Investment Board. The transaction, which has a value of approximately $6.3 billion, (including outstanding debt) is reported to be among the largest leveraged buyouts since before the global recession of 2008.

Cahill represented BofA Merrill Lynch as administrative agent, BofA Merrill Lynch, Morgan Stanley, Credit Suisse and RBC Capital Markets as lead arrangers and UBS Investment Bank as the co-manager in connection with the $2,500,000,000 credit facilities, comprised of a $1,630,000,000 Term B-1 loan, a €250,000,000 Euro Term B-1 loan, a $325,000,000 Term B-2 loan and a $200,000,000 revolving credit facility. The proceeds of the term loan facilities will be used to partially finance the acquisition. 

Media Contact:
Michelle Murray
Director of Marketing & Communications
Phone: 212.701.3614
Fax: 212.378.2410
mmurray@cahill.com