Owens & Minor $600 million notes offering
Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A / Regulation S offering by Owens & Minor, Inc. of $600 million of its 6.625% senior notes due 2030. Owens & Minor, Inc. used the net proceeds of the notes, together with cash on hand and borrowings under new term loan facilities, to finance its acquisition of Apria, Inc.
Owens & Minor, Inc., a Fortune 500 company headquartered in Richmond, Virginia, is a global healthcare solutions company that incorporates product manufacturing, distribution support and innovative technology services to deliver significant and sustained value across the breadth of the industry – from acute care to patients in their homes. Founded in 1882, Owens & Minor was incorporated in 1926. Through organic growth and acquisitions over many years, it has significantly expanded its operations, which now span Asia, Australia, Europe, Latin America and the United States.
The Davis Polk capital markets team included partner Marcel Fausten and associates Claudia Carvajal Lopez and Soo Kyung Chae. Partner Po Sit and associate Dov Sussman provided tax advice. Counsel David A. Zilberberg provided environmental advice. Partner Frank J. Azzopardi and associate David A. Frey provided intellectual property advice. Partner Adam Kaminsky provided executive compensation advice. Members of the Davis Polk team are based in the New York and Washington DC offices.