Credit Suisse Leads Initial Purchasers in Senior Notes Financing for Acquisition of DuPont Performance Coatings
February 01, 2013
On February 1, 2013, affiliates of the Carlyle Group L.P. completed their approximately US$4.9 billion acquisition of DuPont Performance Coatings from E.I. du Pont de Nemours and Company. Cravath, having previously represented Credit Suisse as joint lead arranger of committed financing in connection with the acquisition, represented Credit Suisse and the other initial purchasers in an offering of US$750 million of senior notes and €250 million of senior secured notes of U.S. Coatings Acquisition Inc. and Flash Dutch 2 B.V., issuers controlled by affiliates of Carlyle. The notes were sold in a Rule 144A offering that also closed on February 1, 2013. Proceeds from the offering were used as part of the financing for the acquisition.
The Cravath team included partner Craig F. Arcella and associates Bomi Lee and Christopher K. Couvelier on corporate matters; partner Matthew Morreale on environmental matters; associates Christopher K. Fargo and Neetin Gulati on tax matters; and associate Sarah E. Fortt on executive compensation and benefits matters. A. Rebecca Hurt also worked on corporate matters.
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People
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J.D., 1998, Columbia Law SchoolHarlan Fiske Stone Scholar
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B.A., 1995, Duke University
- New York
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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M.S., 1994, University of Pennsylvania
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B.A., 1990, University of Pennsylvania
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B.A.S., 1990, University of Pennsylvania
- New York
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J.D., 2006, Columbia Law SchoolHarlan Fiske Stone; Michael Lynne Scholar
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B.A., 2003, Boston CollegeHonors Program, cum laude
- New York
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