Milbank LLP represented JPMorgan Chase Bank, N.A. as administrative agent, Barclays, JPMorgan, and HSBC as Global Coordinators, and a group of banks and financial institutions as joint bookrunners, initial purchasers, arrangers, managers and initial anchor lenders in a milestone cross-border acquisition financing to support Carlyle and GIC’s acquisition of the specialty chemicals business of AkzoNobel N.V. (AKZA; AKZOY). Milbank provided advice across numerous jurisdictions and the debt financing was syndicated out of New York and London. The closing and funding of the acquisition and associated debt financing was on October 1, 2018.
The debt financing sources received advice from Milbank attorneys in the New York, London, Frankfurt, Beijing and Washington, DC offices and across a number of practice groups globally, including the Global Leveraged Finance, Global Capital Markets and Corporate groups. The Milbank team was led by Marcus Dougherty and included partners Lauren Hanrahan, Rod Miller, Ben Miles, Neil Caddy, Rebecca Marques, Mathias Eisen and Shepard Liu and associates Benjamin Sayagh, Ashley Rose, Morgan Lingar, Susan Moskovits, Elizabeth McNichol, Jillian Martynec, Amanda Martin, Felicia Hanson Ofori-Quaah and Gerrit Merkel.
The Carlyle Group is a global alternative asset manager with $210 billion of assets under management across 335 investment vehicles as of June 30, 2018.
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. It has investments in over 40 countries.
