Akin Advises Bain Capital Credit in $1 Billion Bond Offering for Griffin Global Asset Management
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(New York) – Akin advised Bain Capital Credit, LP, a leading global credit specialist, in connection with a $1 billion senior unsecured notes offering issued by GGAM Finance Ltd, a subsidiary of Griffin Global Asset Management Holdings, Ltd. The offering includes $400 million of 7.75% senior unsecured notes due 2026 and $600 million of 8% senior unsecured notes due 2028. Certain funds managed or advised by Bain Capital Credit, LP have provided substantially all of the equity capital in Griffin Global Asset Management Holdings, Ltd.
Griffin Global Asset Management is a commercial aircraft leasing and alternative management business, having accumulated 41 aircraft leased to 15 airlines across 11 countries. The bond issuance allows Griffin to partially repay outstanding amounts under an existing warehouse facility and for general corporate purposes.
More details on the transaction can be found here.
The Akin team was led by special situations & private credit co-head Ranesh Ramanathan, fellow partner Catherine Goodall and counsel Alexander Cushman, with assistance from tax partner Ryan Dahan, and associate Nate Sherman.
Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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