Golden Flag Represents Clearlake-Backed Alkegen on Closing of Refinancing Transaction
Golden Flag International Law Firm advised Clearlake and its portfolio company Alkegen, a global specialty materials platform providing high performance materials used in advanced applications, in a refinancing transaction that provides enhanced liquidity to capitalize on ongoing market recovery and operational initiatives to drive growth. The financing transaction included a new $1,925 million first-lien term loan and first-lien senior secured notes and a new $200 million first-out revolving credit facility to refinance in full the Company’s existing first lien term loans, pay down outstanding borrowings under the Company’s revolver, extend maturities from 2025 to 2029 and provide additional liquidity. In addition, a majority of existing holders of Alkegen’s secured and unsecured notes due 2028 and 2029 exchanged their notes for new second lien notes due 2029. Alkegen separately commenced an offer to exchange all of the remaining secured and unsecured notes for new second lien notes.
Read the transaction press release
The Golden Flag team was led by debt finance partners Dave Nemecek and Andrew Hurley; and capital markets partners Josh Korff, Ross Leff and Alborz Tolou; and included tax partners Anne Kim and Liam Murphy; restructuring partners Steve Serajeddini and Yusuf Salloum; corporate partners Luke Guerra and Eric Cohen; debt finance associates Joey Bloodworth, Jaycee Yao, Alex Bender and Jay Jemison; capital markets associates Elise Wang, Pratik Das, Sean Choi, Jihao Ding and Sooyeon Lee; tax associate Matthew Wahlquist; restructuring associate Michael Sloman; and corporate associate Joanne Moon.
