Boyne USA’s $400 Million High?Yield Senior Secured Second Lien Notes Offering


Cravath represented the initial purchaser, Wells Fargo Securities, in connection with the $400 million 144A/Reg. S high?yield senior secured second lien notes offering of Boyne USA, Inc.

Proceeds of the offering will be partially used to finance the acquisition of certain property owned by affiliates of Ski Resort Holdings LLC. The acquisition was backstopped by a senior secured second lien bridge facility commitment also led by Wells Fargo.

The offering closed on April 11, 2018.

Boyne USA, Inc. owns and operates mountain and golf resorts in Michigan. The company, led byBrad Keen, Ed Grice and John Kircher, is based in Petoskey (MI).

The Cravath team included partners William V. Fogg (Picture) and Michael E. Mariani and associates Jennifer Uren and Sarah R. Jacobson. Jeffrey M. Amico also worked on this matter.

Involved fees earner: William V. Fogg – Cravath Swaine & Moore; Michael Mariani – Cravath Swaine & Moore; Jennifer Uren – Cravath Swaine & Moore; Sarah Jacobson – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Wells Fargo Securities;

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Author: Ambrogio Visconti