Charles River Laboratories International’s $500 Million Notes Offering


Davis Polk advised Charles River Laboratories International, Inc. in connection with its Rule 144A/Regulation S offering of $500 million aggregate principal amount of 5.500% senior notes due 2026.

The notes are guaranteed by certain of Charles River’s U.S. subsidiaries that are guarantors under its revolving credit facility.

Charles River is a Wilmington, Massachusetts-based global provider of research models and associated services and of preclinical drug development services. The company provides services to assist pharmaceutical and biotechnology companies, government agencies and leading academic institutions worldwide with enhancing their research and drug development efforts through in-human evaluation of new products and employs over 11,000 employees worldwide.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr. (Picture), counsel Jeffrey S. Ramsay and associate Yoojin L. Kim. The tax team included partner Michael Mollerus and associate Gil Savir. Counsel David A. Zilberberg provided environmental advice. Partner Frank J. Azzopardi and associate Jay Frankel provided intellectual property and technology advice.

Simpson Thacher represented J.P. Morgan Securities LLC and the other initial purchasers on the offering.

The Firm also represented JPMorgan Chase Bank, N.A., as administrative agent, in connection with the refinancing of Charles River’s $2.3 billion senior secured credit facilities.

The Simpson Thacher team included Art Robinson, David Azarkh, Tony Rim and Richie Ragusa (Capital Markets); Justin Lungstrum, Cristina Gonzalez and Eric Wisotsky (Credit); Rob Holo, Nicole Humphrey, and William Smolinski (Tax); Larry Moss and Adam Cohen (Executive Compensation and Employee Benefits); Mike Isby (Environmental); Noah Leibowitz and Amber Harezlak (Intellectual Property); and Jennie Getsin (Blue Sky).

Involved fees earner: Richard Truesdell Jr. – Davis Polk & Wardwell; Jeffrey Ramsay – Davis Polk & Wardwell; Yoojin Kim – Davis Polk & Wardwell; Michael Mollerus – Davis Polk & Wardwell; Gil Savir – Davis Polk & Wardwell; David Zilberberg – Davis Polk & Wardwell; Frank Azzopardi – Davis Polk & Wardwell; Jay Frankel – Davis Polk & Wardwell; Arthur Robinson – Simpson Thacher & Bartlett; David Azarkh – Simpson Thacher & Bartlett; Tony Rim – Simpson Thacher & Bartlett; Justin Lungstrum – Simpson Thacher & Bartlett; Cristina Gonzalez – Simpson Thacher & Bartlett; Eric Wisotsky – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Nicole Humphrey – Simpson Thacher & Bartlett; William Smolinski – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Adam Cohen – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Noah Leibowitz – Simpson Thacher & Bartlett; Amber Harezlak – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett;

Law Firms: Davis Polk & Wardwell; Simpson Thacher & Bartlett;

Clients: JP Morgan Securities; JPMorgan Chase & Co.; Charles River Laboratories;

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Author: Ambrogio Visconti