Milbank Represents Lead Arrangers in Clayton, Dubilier and Rice’s €1.2B Acquisition of Mauser Group

NEW YORK, August 13, 2014 – Milbank represented Credit Suisse, Barclays, BNP Paribas, ING, Natixis and Nomura as joint lead arrangers and joint bookrunners for the first and second lien senior secured credit facilities in connection with the €1.2 billion acquisition by Clayton, Dubilier and Rice of the Mauser Group, a worldwide leading company in industrial packaging headquartered in Germany.

The debt was incurred by Luxembourg and US borrowers and was supported by a cross-border guarantee and collateral package, which consisted of US assets as well as foreign equity and intercompany notes. The proceeds of the credit facilities, which include €680 million Euro and Dollar denominated first lien term loan facilities, a €50 million first lien acquisition and capital expenditure facility, a €150 million first lien revolving credit facility and a $402 million second lien term loan facility, were used to acquire the Mauser Group from Dubai International Capital and to pay off roughly $1 billion in existing debt.

The Milbank Global Leveraged Finance team was led by New York-based partner Marc Hanrahan, Frankfurt-based partner Thomas Ingenhoven and London-based partner Suhrud Mehta and included associates Sarah Griffin, Spencer Pepper, Alex Klein, Julia Schmidt and Josh Savitz.

Also providing advice on various points in the transaction were Employee Benefits associate Robin Heszkel, Environmental of counsel Matthew Ahrens and associate Meghan Gabriel, Intellectual Property partner Lawrence Kass and associate Nangah Tabah, Real Estate associate Lisa Brabant and Tax partner Andrew Walker and associate Erika Hauser.

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