Paul Hastings Advises Cequel in Closing of its $6.6 Billion Sale to BCC Partners, CPP Investment Board and Management
New York, NY
Paul Hastings, a leading global law firm, announced today that the firm represented Cequel Communications Holdings LLC, a cable-television and Internet-services provider which does business as Suddenlink Communications, in connection with its sale to BC Partners, CPP Investment Board and certain members of Suddenlinks management team led by CEO Jerry Kent in a transaction valued at $6.6 billion.
Under terms of the transaction, equity investors including Goldman Sachs, Oaktree Capital Management and Quadrangle sold their interests to the new investor group.
Paul Hastings also represented Suddenlinks management team in connection with the acquisition, and represented Suddenlink in securing debt financing which was used to partially finance the acquisition. Such debt financing raised $500 million through a private placement of bonds. The bonds carry an interest rate of 6.375 percent and mature in September 2020. Credit Suisse, J.P. Morgan, Goldman Sachs and RBC were the joint bookrunning managers for the sale.
Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.