Four Decades for Justice
Cravath represented the initial purchasers, led by Deutsche Bank, The Royal Bank of Scotland, Barclays and Mizuho Securities, in connection with the £655 million 144A/Reg. S high‑yield class B secured debt offering of AA Bond Co Limited. AA Group, parent of AA Bond Co Limited, is the largest roadside assistance provider in the United Kingdom at the time of the offering. The Acromas Group and the Saga Group, ultimate parents of AA Group, are portfolio companies of a consortium of private equity sponsors including Charterhouse Capital Partners LLP, CVC Capital Partners and Permira Advisers Limited. The notes were listed on the Irish Stock Exchange. The transaction closed on July 2, 2013. Upon consummation of this offering, the operations of the AA Group will be separated from the Acromas Group and the Saga Group.
The Cravath team included partner Philip J. Boeckman on corporate matters and partners Michael L. Schler and J. Leonard Teti II on tax matters.
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