$9.97 billion McAfee acquisition financing
We advised on the financing for the purchase of McAfee by Advent, Permira, Crosspoint and CPPIB
In connection with the acquisition of McAfee Corp. by Advent International Corp., Permira Advisers LLC, Crosspoint Capital Partners, LP and CPPIB Credit Investments III Inc., Davis Polk advised the administrative agent and several other banks as joint lead arrangers and bookrunners on a $6.95 billion senior secured first-lien term loan facility and a $1 billion senior secured revolving credit facility. We also represented the initial purchasers in a simultaneous issuance of $2.02 billion of unsecured senior notes to provide an additional portion of the acquisition consideration. The acquisition was completed March 1, 2022.
McAfee is a global computer security software company headquartered in San Jose, California.
Advent International, which led the acquisition, is a leading private equity firm that invests in the business, financial services, healthcare, industrial, retail, consumer and leisure sectors, as well as offers investment advisory, wealth management, due diligence and evaluation services and serves customers worldwide.
The Davis Polk finance team included partner James A. Florack, associates Christopher Nairn-Kim, Jason Palios, Matt Celentano, Jenny Dai and Sam Dilthey. The capital markets team included partner Derek Dostal. Partner Frank J. Azzopardi provided intellectual property advice. Counsel Tracy L. Matlock provided tax advice. Counsel Stephen I. Brecher provided executive compensation advice. Counsel Will Schisa provided sanctions advice. Members of the Davis Polk team are based in the New York and Washington DC offices.