Paul Hastings Represents Banks in the $610 Million Financing for the Purchase of PODS by Ontario Teachers’ Pension Plan

February 03, 2015

New York, NY- Paul Hastings LLP, a leading global law firm, represented the banks in financing the acquisition of PODS, a leader in the moving and storage category, by The Ontario Teachers' Pension Plan’s  Long-Term Equities Group from Bahrain private-equity firm Arcapita. The Ontario Teachers' Pension Plan is the largest single-profession pension plan in Canada. The transaction value is in excess of $1 billion.

Morgan Stanley Senior Funding, Inc., Barclays Bank PLC and Goldman Sachs Lending Partners LLC acted as the joint lead arrangers and Morgan Stanley Senior Funding, Inc. as administrative agent in connection with the financing for the acquisition. The financing consisted of a $410 million first lien term loan facility, a $50 million first lien cash-flow revolving facility and a $150 million second lien term loan facility.

Leveraged Finance partners

 and  led the Paul Hastings team, which included associates , Katie Forer and Frank Grese.

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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