On December 28, 2002, our client, PerkinElmer, Inc., completed the final component of a complex restructuring of its outstanding debt. The transaction involved several related transactions, including:
- $415 million in new senior secured credit facilities comprised of a $315 million term loan and a $100 million revolving credit facility;
- a Rule 144A placement of $300 million aggregate principal amount of senior subordinated notes; and
- cash tender offers for $115 million in original principal amount of PerkinElmer’s outstanding 6.8% notes and $722.3 million in original principal amount at maturity of its outstanding zero coupon convertible debentures.
Due to the complexity and nature of the transaction, PerkinElmer called on a multidisciplinary team of lawyers from the firm’s corporate, commercial and tax departments, including Hal Leibowitz, John Sigel, Stuart Nayman, Jeffrey Hermanson, Rob Burke, Jonathan Wolfman, Jeremy Kream, Claire Patton, Kimberly Wethly, Michael Pandolfi, John Haynes, Mark Goldschmidt and Kathleen O’Sullivan-Fortin.
PerkinElmer is a global technology leader focused in the life and analytical sciences, optoelectronics and fluid sciences businesses. It is a component of the S&P 500 Index.