Apex Service Partners has priced an offering of US$1 billion 8.875% senior secured notes due 2033 in a private offering under Rule 144A and Regulation S of the Securities Act of 1933 to eligible purchasers. Apex is seeking to raise debt to refinance existing debt, redeem equity from certain inactive minority and rollover investors, provide liquidity for general corporate purposes, and support future M&A.
Latham & Watkins LLP represents the initial purchasers in the offering with a Capital Markets team led by partners Stelios Saffos, Global Chair of Latham’s Capital Markets and Public Company Representation practices and Global Chair of the Hybrid Capital Practice, Senet Bischoff, and Brittany Ruiz, with associates Joshua Harriott and Kan Ni, and assistance from Casey O’Neill. Advice was also provided on banking matters by partners Daniel Seale and Alfred Xue, with associates Julio Martinez Rivas, Jason Wang, and April Yoon; and on tax matters by partner Rene de Vera, with associate Shiyi Parsons.
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