Banks Finance Centerbridge Partners Acquisition of KIK Custom Products

August 28, 2015

New York, NY— Paul Hastings LLP, a leading global law firm, announced today that the firm advised the debt financing providers in connection with the approximately $1.5 billion purchase by Centerbridge Partners, L.P. of KIK Custom Products Inc. (“KIK”), a manufacturing partner to the world’s largest retailers and brands.

Paul Hastings LLP represented Barclays Bank PLC, BMO Capital Markets Corp, Nomura Securities International, Inc. and Macquarie Capital (USA) Inc. as joint lead arrangers and Barclays Bank PLC as administrative agent in connection with a $850 million senior secured term loan and a $225 million senior secured ABL facility for KIK and certain of its affiliates.  Paul Hastings LLP also represented Barclays Capital Inc., BMO Capital Markets Corp, Nomura Securities International, Inc. and Macquarie Capital (USA) Inc. as initial purchasers in connection with the Rule 144A/Reg S offering of $390 million aggregate principal amount of 9.000% senior notes due 2023 by Kronos Acquisition Holdings Inc., which was merged with and into KIK at closing.  The proceeds of the senior secured credit facilities and the senior notes at closing were used primarily to finance the acquisition of KIK.

Leveraged Finance partners Richard FarleyJohn Cobb and Katherine Bell led the Paul Hastings team, which also included of counsel Lesley Janzen and associates Christopher Ross, Marisa Sotomayor, Jason Ewart, Frank Grese, Molly Vaughan, Cecilia WangKareem Roe and Matthew Bartlett.

Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.

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