Paul Hastings Advises Banks in Financing the $8.7 Billion Acquisition of PetSmart by a Consortium Led by BC Partners

March 12, 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 $8.7 billion purchase of PetSmart, Inc. (“PetSmart”), North America’s leading specialty pet retailer of services and solutions for the lifetime needs of pets, by an investor consortium led by BC Partners.

Paul Hastings LLP represented Citigroup Global Markets Inc., Barclays Bank PLC, Deutsche Bank Securities Inc., Nomura Securities International, Inc., Jefferies Finance LLC, RBC Capital Markets and Macquarie Capital (USA) Inc. as joint lead arrangers and Citibank, N.A. as administrative agent in connection with a $4.3 billion senior secured term loan and a $750 million senior secured ABL facility for PetSmart and certain of its affiliates.  Paul Hastings LLP also represented Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Nomura Securities International, Inc., Jefferies LLC, RBC Capital Markets, LLC, Natixis Securities Americas LLC and Macquarie Capital (USA) Inc. as initial purchasers in connection with the Rule 144A/Reg S offering of $1.9 billion aggregate principal amount of 7.125% senior notes due 2023 by Argos Merger Sub Inc., which was merged with and into PetSmart at closing.  The proceeds of the senior secured credit facilities and the senior notes at closing were used primarily to finance the acquisition of PetSmart.

Leveraged Finance partners Michael Michetti, John Cobb, Richard FarleyMario Ippolito and Jeffrey Pellegrino led the Paul Hastings team, which also included associates Christopher Ross, Joseph Fastiggi, Shekhar Kumar, Heidi Spalholz, Tahira Prince, Mitchell Zuckerman, Molly Vaughan, Cecilia Wang, Andrew Jenkinson, Yian Huang, Sean MurrayAdrian Clevenot and Alex W. Choe.

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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