CC Capital’s $4.58 Billion Acquisition Of The Dun & Bradstreet Corporation

Davis Polk advised the administrative agent, joint lead arrangers, joint bookrunners and senior managing agents, with respect to The Dun & Bradstreet Corporation’s $2.53 billion senior secured term loan facility, a $400 million senior secured revolving credit facility and a $200 million senior secured cash repatriation bridge facility.

Davis Polk also advised the initial purchasers in connection with a Rule 144A/Regulation S offering by The Dun & Bradstreet Corporation of $700 million of its 6.875% senior secured notes due 2026 and $750 million of its 10.250% senior unsecured notes due 2027. The proceeds of the facilities and the offering were used to finance, in part, CC Capital Partners LLC’s acquisition of The Dun & Bradstreet Corporation.

Total consideration for the acquisition was approximately $5.43 billion.

BofA Merrill Lynch, Citigroup Inc. and RBC Capital Markets acted as underwriters in the deal.

Dun & Bradstreet helps companies around the world improve their business performance. The global leader in commercial data and analytics, Dun & Bradstreet gleans insight from data to enable its customers to connect with the prospects, suppliers, clients and partners that matter most.

CC Capital is a private investment firm founded in 2016, with a focus on investing and operating high-quality companies for the long term.

The Davis Polk credit team included partner Jason Kyrwood (Picture) and associates Christopher Nairn and Sarah S. Hylton. The capital markets team included partner Michael Kaplan and associate Dan Gibbons. Partner Pritesh P. Shah and associates Daniel F. Forester and Mikaela Dealissia provided intellectual property and technology advice. The tax team included partner Michael Mollerus and associate M. Jared Sanders.

J.P. Morgan is serving as financial advisor to Dun & Bradstreet, and Cleary Gottlieb Steen & Hamilton LLPis serving as legal counsel.

Financial advisors to the buyer include BofA Merrill Lynch, Citigroup Inc., and RBC Capital Markets. Citigroup Inc. is acting as sole equity private placement agent to the buyer. Kirkland & Ellis LLP is acting as legal advisor to the buyer.

Involved fees earner: Mikaela Dealissia – Davis Polk & Wardwell; Daniel Forester – Davis Polk & Wardwell; Dan Gibbons – Davis Polk & Wardwell; Sarah Hylton – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; Jason Kyrwood – Davis Polk & Wardwell; Michael Mollerus – Davis Polk & Wardwell; Christopher Nairn – Davis Polk & Wardwell; M. Jared Sanders – Davis Polk & Wardwell; Pritesh P. Shah – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Merrill Lynch; Citigroup Inc.; RBC Capital Markets;

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Author: Ambrogio Visconti