Clarios $750 million notes offering and $2.75 billion term loan
We advised Clarios International on the transactions
Davis Polk advised Clarios International LP in connection with a Rule 144A / Regulation S offering of $750 million aggregate principal amount of its 6.750% senior secured notes due 2028 issued by its wholly owned subsidiaries Clarios Global LP and Clarios US Finance Company, Inc. Davis Polk also advised Clarios in connection with an amendment to its existing first-lien credit facilities to incur a new $2.75 billion term loan. The proceeds from the transactions were primarily used to repay a portion of the borrowings under Clarios’s existing first-lien credit facilities.
Clarios is a world leader in advanced energy storage solutions. Clarios partners with its aftermarket and original equipment customers to meet increasing market demand for smarter applications on a global scale. Clarios’s approximately 16,800 employees develop, manufacture and distribute a portfolio of evolving battery technologies for virtually every type of vehicle. Its technologies deliver uniquely sustainable, next-generation performance, and bring reliability, safety and comfort to everyday lives.
The Davis Polk capital markets team included partners Michael Kaplan and Marcel Fausten and associates Claudia Carvajal Lopez and Marquis J. Pullen. The finance team included partner Hilary Dengel, counsel Jack Orford and associates Zoe Chen, Jonathan Morford, Eric Cummings and John Foster. Counsel David A. Zilberberg provided environmental advice. All members of the Davis Polk team are based in the New York office.