Paul Hastings Advised Initial Purchasers in Jones Deslauriers/Navacord’s Follow-On Secured Notes Offering

March 17, 2023

Paul Hastings LLP advised BofA Securities, BMO Capital Markets, CIBC Capital Markets, KKR, MUFG, and TD Securities in connection with the offering of $500 million aggregate principal amount of 8.500% senior secured notes due 2030 by Jones DesLauriers Insurance Management Inc./Navacord Corp., a company controlled by private equity sponsor Madison Dearborn Partners and one of Canada’s fastest growing multi-line insurance brokers.

Having previously advised on the inaugural high-yield bond offering in December 2022, marking one of the few high-yield bonds to close in Q4 2022, this successful follow-on offering demonstrates the continued success of Paul Hastings’ cross-border capital market offerings.

The cross-office Paul Hastings team was led by New York partner John Cobb and London partner Max Kirchner, which also included associates Justin Zeizel, Ben Winnick, and Valmir Merkaj.

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