Daily News: October 1, 2014

Hastings Advises JPMorgan, Others for Debt Financing

Paul Hastings advised the debt financing providers in connection with the acquisition by certain affiliates of The Carlyle Group L.P. of Acosta. The firm represented J.P. Morgan Securities, Goldman Sachs Lending Partners, Morgan Stanley Senior Funding and Barclays Bank as joint lead arrangers and JPMorgan Chase Bank as administrative agent in connection with a $2.065 billion senior secured term loan and a $225 million senior secured revolving credit facility for Acosta, and certain of its affiliates.

The firm also represented Goldman Sachs, J.P. Morgan Securities, Morgan Stanley, Barclays Capital and Mizuho Securities as initial purchasers in connection with the Rule 144AReg S offering of $800 million aggregate principal amount of 7.750% senior notes Due 2022 by Anna Merger Sub, which was merged with and into Acosta Holdco at closing.

Proceeds of the senior secured credit facilities and the senior notes at closing were used to finance the acquisitions of Acosta and affiliates thereof by certain affiliates of The Carlyle Group.

Leveraged Finance partners John Cobb and Michael Chernick led the Paul Hastings team, which also included associates Joseph Fastiggi, Edward Holmes, Sun Kim, Tahira Prince, Molly Vaughan and Yian Huang.