Axalta’s $500 Million High‑Yield Senior Notes Offering


Cravath represented the initial purchasers in the offering.

The offering consists of $500 million 144A/Reg. S high-yield senior notes offering of Axalta Coating Systems, LLC and Axalta Coating Systems Dutch Holding B.B.V., which are wholly owned subsidiaries of Axalta Coating Systems Ltd., a leading global manufacturer, marketer and distributor of high performance coatings systems. The transaction closed on June 15, 2020.

Barclays, Deutsche Bank Securities, Citigroup, J.P. Morgan Securities and SunTrust Robinson Humphrey acted as initial purchasers for the offering.

The Cravath team advising the initial purchasers included partners Craig F. Arcella (Picture) and Sasha Rosenthal-Larrea and associates Matthew L. Ploszek and Caroline H. Gieryn on capital markets matters, partner Matthew Morreale on environmental matters, and partner Christopher K. Fargo, senior attorney Andrew Carlon and associate Cecily Xi on tax matters. Bethany E. Clarke also worked on capital markets matters.

Involved fees earner: Craig Arcella – Cravath Swaine & Moore; Andrew Carlon – Cravath Swaine & Moore; Christopher K. Fargo – Cravath Swaine & Moore; Caroline Gieryn – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Matthew Ploszek – Cravath Swaine & Moore; Sasha Rosenthal-Larrea – Cravath Swaine & Moore; Cecily Xi – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Barclays Capital ; Citigroup Global Markets Ltd; Deutsche Bank Securities; J.P. Morgan Securities LLC; SunTrust Robinson Humphrey, Inc.;

Author: Ambrogio Visconti