Kirkland Represents Clearlake-Backed PrimeSource on a $1.8 Billion Refinancing Transaction and $640M Exchange Offers

Kirkland & Ellis advised Clearlake and its portfolio company PrimeSource, a provider of branded specialty building products and hardware in North America, in connection with the refinancing of certain outstanding debt. The refinancing transaction included a new $1.02 billion first lien term loan due 2031 and new $800 million first lien senior secured notes due 2031. Concurrently with the first lien notes offering, PrimeSource commenced an offer to exchange approximately $640 million of existing notes for newly issued second lien notes, with 99.9% of participation from existing noteholders.

The Kirkland team included debt finance lawyers Brian Ford and Matthew Demopoulos; capital markets lawyers Ross Leff and Alborz Tolou; and tax lawyer Anne Kim.