Allen & Overy’s New York leveraged finance team advised the lead arrangers, joint bookrunners and administrative agent on a first lien term loan for the acquisition of TricorBraun Holdings, Inc by AOT Packaging Products AcquisitionCo, a portfolio company of Ares Management Corporation’s Private Equity Group and Ontario Teacher’s Pension Plan Board.
The financing package included a $1.3bn first lien term loan, which consisted of a $1.06bn closing date first lien term loan and a $240m first lien delayed draw term loan. A $140m ABL revolving credit facility was simultaneously arranged along with $343m in privately placed second lien notes.
TricorBraun Holdings is North America’s largest primary packaging distributor and one of the largest providers of packaging globally.
Ares Management Corporation is a leading global alternative investment manager with groups across private equity, credit, real estate and strategic initiatives, and approximately $179bn in AUM.
The Allen & Overy leveraged finance team was led by New York partners Rajani Gupta and Judah Frogel, senior counsel Jonathan Homer and associate Penelope Yan, with additional support from Eric Olson and Aubria Ralph.
