Weil has advised the lead arrangers and initial purchasers in connection with Clarios Global LP’s (i) $3.5 billion 7-year U.S. dollar-denominated first lien term loan maturing in 2032, (ii) €800 million 7-year Euro-denominated first lien term loan maturing in 2032, and (iii) offering of $700 million in aggregate principal amount of 6.750% senior secured notes due 2030. Clarios will use the proceeds from the borrowings and offering to fund a $4.5 billion distribution to stockholders and redeem approximately $500 million of the aggregate principal amount of its 6.250% Senior Secured Notes due 2026. Clarios was acquired by Brookfield, in consortium with CDPQ, through a carve-out in 2019.

The Weil deal team was led by Banking & Finance Co-Head Justin Lee and Capital Markets Co-Head Michael Hickey. The team also included Banking & Finance counsel Evan Nichols, associates Nick Swan, Dan Cruickshank and Laura Ceitlin (Not Yet Admitted in New York), and Capital Markets associates Joseph Hahn and Federica Marini.