December 23, 2016

Milbank Advises Lenders on Major Acquisition Financing for ASX-Listed SAI Global


Milbank, Tweed, Hadley & McCloy LLP represented a group of lenders including Goldman Sachs Australia Pty Ltd, UBS Securities LLC, HSBC Bank Australia Limited (as first lien lenders) and Partners Group Limited and its affiliates (as second lien lenders) in the take-private of ASX-listed SAI Global, a Baring Private Equity Asia portfolio company. The transaction, valued at AUS $1 billion, closed on December 23, 2016.

The debt financing consisted of first lien senior secured credit facilities in the amount of USD $385 million and AUS $255 million and a second lien senior secured term loan in the amount of AUS $160 million.

The Milbank Global Leveraged Finance and Capital Markets teams who advised on the acquisition and the financing include partners Lauren Hanrahan, Michael Bellucci and David Zemans; senior associate James Orme; and associates Laura Larsen, Christopher Kwan, Martin Wong, Juyon Kang, Emily Rutcofsky, Daniel Groh-Wargo, Leila Ravi, and Pablo Malay. Special counsel Eschi Rahimi-Laridjani and associate Jules Mugema advised on tax matters.