H.B. Fuller Company $2.15 Billion Term Loan for H.B. Fuller’s Acquisition of ASP Royal

Davis Polk advised the joint lead arrangers and joint bookrunners in connection with a $2.15 billion senior secured first-lien term loan facility provided to H.B. Fuller Company in connection with HB Fuller’s acquisition of ASP Royal Acquisition Corp.

Davis Polk also advised the lead arranger in connection with an amendment to H.B. Fuller’s existing $400 million revolving credit facility in order to, among other things, (i) permit H.B. Fuller’s acquisition of ASP Royal and the incurrence of the senior secured first-lien term loan facility and (ii) secure the $400 million revolving credit facility on a pari passu basis with the senior secured first-lien term loan facility.

H.B. Fuller is a Minnesota-based global adhesives provider focusing on perfecting adhesives, sealants, paints and other specialty chemicals to improve products and lives.

ASP Royal is headquartered in Indiana, and is a global manufacturer and marketer of high performance adhesives, sealants, encapsulants and polymer coatings used in a variety of markets including aerospace and defense, automotive, recreational vehicle, bus, truck and trailer, rail, marine, insulated glass, solar, wind, assembly, electrical, electronics, filter, printing, packaging, laminating, roofing and flooring.

The Davis Polk credit team included partner Jinsoo H. Kim and associate Christopher Nairn. The capital markets team included partner Byron B. Rooney and associates Eugene Baek, Marisa T. Kirio and Dorothy A. Jenke Hill. Counsel Susan D. Kennedy and associates Josh Steinman and Erick Rabin provided real estate advice. All members of the Davis Polk team are based in the New York office.