Daily News: October 29, 2013

Hastings Advises Centerbridge on Partial Acquisition of syncreon Ireland

Paul Hastings announced it advised Morgan Stanley, Goldman Sachs and UBS Investment Bank in connection with the financing of the acquisition by private equity firm Centerbridge Partners L.P. of a 40% interest in, and the related recapitalization of, syncreon Ireland B.V., which will be indirectly controlled by a fund affiliated with GenNx360 Capital Partners, L.P., investment funds sponsored by Centerbridge and certain other investors.

The financing included $625 million senior secured credit facilities in which Morgan Stanley acted as agent, and Morgan Stanley, Goldman Sachs and UBS Investment Bank acted as lead arrangers.

Paul Hastings also advised on the $225 million high-yield offering in which Goldman Sachs, Morgan Stanley and UBS Investment Bank acted as initial purchasers.

Leveraged Finance partners Richard Farley, Michael Chernick and Jeffrey Pellegrino led the Paul Hastings team, which also included Leveraged Finance associates Chris Ross, Ed Holmes, Valerie Silverman, Sun Kim and Max Rosenberg.