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Stonepeak Completes Bond Offering to Fund Acquisition of Forgital Group
- Client News
- February 19, 2025
Paul, Weiss advised leading private equity firm Stonepeak Partners LP and its affiliates Efesto Bidco S.p.A. and Efesto US, LLC, on the U.S. and English law aspects of their debut issuance of $825 million 7.50% senior secured rate notes due 2032, and their entry into a €125 million-equivalent revolving credit facility.
Under the terms of the transactions, the proceeds from the notes were deposited into escrow pending completion of Stonepeak’s acquisition of the Forgital Group, a top manufacturer of advanced forged and machine-finished components for aerospace and industrial end markets. The notes were issued pursuant to Rule 144A and Regulation S under the U.S. Securities Act and listed on the Luxembourg Stock Exchange’s Euro MTF market.
The Paul, Weiss team was led by corporate partners Matthew Merkle, Neel Sachdev, Eric Wedel and Nicolò Ascione, and included partner Silvia Menendez, and tax partners Timothy Lowe and Cian O’Connor and counsel Samir Kurani and Patrick Karsnitz.