Weil advised Vialto Partners (the Company), a CD&R portfolio company and leading provider of global mobility, tax and immigration solutions to the world’s leading companies, on its recapitalization and refinancing of its c. $1.7 billion of first-lien and second-lien debt facilities.
As part of the transaction, CD&R and the Company’s second-lien lender, HPS Investment Partners (HPS), delivered $225 million in new equity and contributed to the $550 million reduction the Company’s outstanding debt, significantly strengthening Vialto’s balance sheet and creating a sustainable capital structure for the long term.
The refinancing involved the equitization of certain CD&R and HPS-held first lien and second lien loans, as well as an amendment and extension of the remaining c. $800m first-lien term loans and $200 million first-lien revolving credit facility, with the latter being substantially paid down at closing.
The transaction was completed on February 24, 2025, following receipt by the Company of regulatory clearances, and was implemented with the unanimous support of CD&R, HPS and the Company’s first-lien creditors.
CD&R continues to be the majority shareholder of Vialto and HPS is now a minority equity owner.
Weil is pleased to have advised the company to this successful outcome.
The Weil team was led by London Restructuring partners Neil Devaney and Jenny Davidson, assisted by counsel Jonny Woods and associates Matthew Fonti, Kyle McLachlan, Peter Hession, Vaughan Evans and Chris Kruizinga in London and associates Alex Cohen, Justin Kanoff and Jarred Barlow in New York.
Other Weil team members included U.S. Banking & Finance partner Vynessa Nemunaitis and associates Libby Vinson and Keiko Quiñones-Osumi; London Antitrust partner Neil Rigby, counsel Annagiulia Zanazzo and associate Lucy Peckham; Tax partners Devon Bodoh, Jenny Doak and Alfonso Dulcey, counsel Stuart Pibworth, and associates Anna Ritchie, Alex Dobyan and Theo Agbi; Corporate partners Gavin Westerman and Lewis Blakey, counsel Ariel Fliman and associates Will Johnson, Ashwin Gopakumar, Michael P. Chenkin and Julia Sichun Liu; Executive Compensation & Benefits partner Aimee Adler and associate Lizl Loubser; and London Banking and Finance associate Saahil Sheth.
