The Firm represented UKG Inc. (“UKG”) in connection with its Rule 144A and Regulation S offering of $2.5 billion aggregate principal amount of 6.875% Senior Secured Notes due 2031 (the “Notes”).
In addition, the Firm represented UKG in connection with a restatement of its first lien senior secured credit agreement, which provides for (i) a new 7-year $5.385 billion senior secured first lien term loan facility and (ii) a 5-year $945 million senior secured first lien revolving credit facility (collectively, the “New Senior Secured Credit Facilities”).
UKG intends to use to use the net proceeds from the Notes offering, together with borrowings under the New Senior Secured Credit Facilities to (i) refinance its existing first lien credit facilities, (ii) repay a portion of its second lien term loan facility and (iii) pay fees and expenses related to the Notes offering and the New Senior Secured Credit Facilities.
UKG is a leading global provider of human capital management solutions that power businesses to build great places to work. UKG’s solutions offer a differentiated combination of comprehensive human capital management Software-as-a-Service suites, modern scalable technology, distinct expertise in complex workforce management and dedicated customer focus that together address the complete human resources, payroll, time and scheduling needs of large enterprises, mid-market companies and small and midsize businesses.
The Simpson Thacher team included William Brentani, Heidi Mayon, Hui Lin, Anna LeGrett and Ramin Tabrizi (Capital Markets); Brian Steinhardt, Benjamin Persina and Joel Kushner (Credit); Jon Pall (Collateral); Corina Holland, Courtney Welshimer and Mark Natividad (Intellectual Property); and Michael Mann and Michael Leitner (Tax).