Kirkland & Ellis Advises CVC and Cerved Technologies on its €780.0 Million High-Yield Offering and €75.0 Million Super Senior Revolving Credit Facility

Kirkland & Ellis International LLP represented Cerved Technologies S.p.A., an Italian joint stock company controlled by funds managed by CVC Capital Partners, in its offering of €780.0 million aggregate principal amount of notes, consisting of €300.0 million of 6.375% senior secured fixed rate notes due 2020, €250.0 million of senior secured floating rate notes due 2019, and €230.0 million of 8% senior subordinated notes due 2021, and in its establishment of a €75.0 million super senior revolving credit facility. The transactions closed on January 29, 2013. The net proceeds of the offering were paid into escrow accounts and will be released to finance the acquisition of the Cerved group, which is expected to complete later this year.

The Kirkland & Ellis team that advised on the notes offering included London-based partners Ward McKimm and Cedric Van den Borren, and associates Paul Beck, Uma Sud, Daniel Illes and James Brenton. Partners Philip Crump and Samuel Norris and associates Mark Fine and Marimba Odundo-Mendez advised on the super senior revolving credit facility and intercreditor arrangements. Partners Ian Taplin and Michael Carew and associates Dulcie Sawle Daly and Kevin Zaragoza advised on the tax aspects of the offering.

The Cerved group is the leading provider of credit information to financial institutions and corporations in Italy. The Cerved group offers products and services that support customers across all stages of their credit decision-making processes, and vary from the sale of information to value-added analyses based on a broad and proprietary database to credit collection services.
 
Kirkland & Ellis is a 1,600-attorney law firm representing global clients in complex corporate, secured lending, capital markets, tax, restructuring, litigation and dispute resolution/arbitration, and intellectual property and technology matters. The Firm has offices in London, Chicago, Hong Kong, Los Angeles, Munich, New York, Palo Alto, San Francisco, Shanghai and Washington, D.C.