Simpson Thacher represented Associated Materials, LLC (“Associated Materials”) and its co-issuer in connection with an offering of $100 million aggregate principal amount of 9.125% senior secured notes due 2017. The notes were issued as additional notes under the same indenture governing $730 million of existing senior secured notes. Associated Materials used a portion of the net proceeds from the notes to repay all of the outstanding borrowings under its senior secured asset-based revolving credit facilities and intends to use the remaining net proceeds for other general corporate purposes.
Associated Materials is a leading, vertically integrated manufacturer and distributor of exterior residential building products in the United States and Canada. The company distributes these products, as well as third-party manufactured products, through its extensive dual distribution network, consisting of 122 company-operated supply centers and approximately 275 independent distributors and dealers located across the United States and Canada.
The Simpson Thacher team for the offering included Bill Brentani, Dan Webb, Michael Reeves and Cara Walsh (Capital Markets); Katharine Moir and Daniel Foster (Tax); Krista McManus and Davis Coen (Real Estate); Jeanne Annarumma (Executive Compensation and Employee Benefits); and Janet Nadile (Collateral/UCC).
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