McDermott Will & Emery LLP represented Actuant Corporation (NYSE: ATU) in connection with its high yield debt offering of $300 million in aggregate principal amount of 5.625 percent Senior Notes due 2022.
The transaction was structured as a private placement pursuant to the Securities Act of 1933. Concurrently with the offering, Actuant offered to purchase for cash any and all of the $250 million outstanding principal amount of its 6.875 percent Senior Notes due 2017. As part of the offer to purchase, Actuant Corporation solicited consents to effect certain proposed amendments to the indenture governing the Senior Notes.
Actuant Corporation, headquartered in Menomonee Falls, Wisconsin, is a $1.5B diversified industrial company with operations in more than 30 countries. The Actuant businesses are leaders in a broad array of niche markets including branded hydraulic and electrical tools and supplies; specialized products and services for energy related industries; and highly engineered position and motion control systems.
“We are pleased to have facilitated this important private placement for our client Actuant as the company looks to its continued growth,” said McDermott corporate partner Helen Friedli, who led the McDermott team.
Wells Fargo, Bank of America, Merrill Lynch and JP Morgan acted as lead underwriters of the high yield debt offering and as dealer managers and solicitation agents for the tender offer and consent solicitation.
In addition to Ms. Friedli, the McDermott team included partners Eric Orsic, John P. Hammond, Daniel N. Zucker and Nancy S. Gerrie, as well as associates Elijah Hammans, George M. Houhanisin and J. Cole Parker.
Operating from some of the world’s largest financial centers, McDermott’s securities lawyers bring broad experience and acute insight to the most intricate issues that govern the securities industry. The Firm’s Securities Practice Group has extensive experience representing issuers and underwriters across a wide spectrum of capital market transactions globally. The strong knowledge base of McDermott securities lawyers acquired through experience allows them to advise clients on today’s problems and tomorrow’s trends. Transactions handled by the Firm range broadly, from small unregistered private placements to multibillion dollar registered underwritten offerings, from basic common stock to high-yield debt, to exotic hybrid instruments, often involving multiple issuers.
