Oak Hill and Apollo Funds Lead New Capital Infusion to Support Growth of Alkegen

Alkegen, a global specialty materials platform and a portfolio company of Clearlake Capital, closed a refinancing transaction of its outstanding debt. The transaction was led by a consortium of new and existing lenders, including lead lender Oak Hill Advisors and funds managed by affiliates of Apollo Capital Management._x000D_
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As part of this transaction, Alkegen entered into new $1,925 million first lien term loan and notes facilities and a new $200 million first-out revolving credit facility to refinance in full its existing first lien term loans, pay down outstanding borrowings under its revolver, extend maturities from 2025 to 2029 and provide additional liquidity. In addition, a majority of existing holders of Alkegen’s secured and unsecured notes due 2028 and 2029 exchanged their notes for new second lien notes due 2029. Alkegen is separately commencing an offer to exchange all of the remaining secured and unsecured notes for new second lien notes._x000D_
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“We are very pleased with the successful completion of this transaction, which further strengthens our financial position and provides additional flexibility to continue to execute on our long-term growth priorities,” John Dandolph, president and CEO of Alkegen, said. “We appreciate the continued strong support from our investors and lenders, which highlights their confidence in our strategic direction.”_x000D_
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“This new capital infusion represents a milestone in Alkegen’s next stage of growth and innovation,” José E. Feliciano, co-founder and managing partner, and Colin Leonard, partner and managing director, at Clearlake, said. “We look forward to supporting Alkegen’s ongoing commitment to delivering cutting-edge solutions to its global customer base.”_x000D_
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Kirkland & Ellis and Centerview Partners served as legal and financial advisors to Alkegen. Davis Polk & Wardwell and Perella Weinberg Partners served as legal and financial advisors to certain Alkegen lenders and investors.