Daily News: December 16, 2013

Hastings Represents RBC in Dynamic Precision Acquisition

Paul Hastings announced that the firm represented Royal Bank of Canada as administrative agent and the joint lead arrangers and joint bookrunners in connection with an acquisition financing for Dynamic Precision Group.

The debt financing for consisted of a $260 million term loan facility and a $70 million revolving credit facility. The proceeds of the credit facilities were used to partially finance the acquisition by Dynamic Precision Group of manufacturing assets from a unit of GE Aviation.

Leveraged finance partners Michael Baker and Randal Palach led the Paul Hastings team, which also included associates Joseph Fastiggi, Sun Kim and Max Rosenberg.

Dynamic Precision Group is a turbine engine parts manufacturer affiliated with The Carlyle Group and AeroEquity Partners.