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Global Brass and Copper Completes Senior Secured Notes Offering and Amendment to ABL Facility
Practices
Paul, Weiss advised Global Brass and Copper, a leading North American converter, fabricator, distributor and processor of specialized copper and brass products and a portfolio company of our long-time client KPS, in a Rule 144A/Regulation S offering of $375 million 9.50% senior secured notes due 2019. Goldman, Sachs & Co. and Morgan Stanley acted as joint bookrunners for the offering, which closed June 1. The proceeds of the notes were used to repay Global Brass and Copper's existing term loan facility and to make a distribution to its equityholders. Concurrently with the offering, Global Brass and Copper amended its $200 million asset-based revolving loan facility.
The Paul, Weiss team advising Global Brass and Copper included, among others, corporate partners Carl Reisner and Tom de la Bastide, and counsel Dorian Fogel; real estate partner Peter Fisch; tax partner David Mayo.