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Press Ganey's $1.1 Billion of Senior Secured Credit Facilities

Cravath represented the arrangers, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with the arrangement of a $760 million senior secured first lien term loan facility, a $70 million senior secured first lien revolving facility and a $268 million senior secured second lien term loan facility made available to an affiliate of EQT Partners, which merged with and into Press Ganey Holdings, Inc. at closing, to be used for acquisition financing and general corporate purposes. Press Ganey Holdings, Inc. is a leading provider of patient experience measurement, performance analytics and strategic advisory solutions for healthcare organizations. The transaction closed on October 21, 2016.

The Cravath team included partner Craig F. Arcella, associates Isaac C. Beerman and Coy E. Brewer III and foreign associate attorney Zachary B. Kedgley‑Foot on banking matters and associate Ashley May on tax matters.