Milbank LLP advised the initial purchasers in connection with a Rule 144A/Regulation S offering by Capstone Borrower, Inc. (“Cvent”) of $100 million aggregate principal amount of 8.000% senior secured notes due 2030. The offering closed on May 16, 2024. In addition, Milbank represented the joint lead arrangers in connection with the refinancing of all Cvent’s outstanding senior secured term loan facility and the incurrence of new term loans in an aggregate principal amount of $567 million.
Cvent used the net proceeds of the notes offering, together with the net proceeds of the new term loans and cash on hand, to refinance all of its outstanding term loans under the existing term loan credit agreement and/or for general corporate purposes, and to pay fees, costs and expenses related to the notes offering.
Cvent is a leading meetings, events and hospitality technology provider that delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging, impactful experiences.
The Milbank deal team was led by Corporate Finance and Securities partners Rod Miller and Lesley Janzen and associates Alex Becker, Nicholas Kunz and Allison Mahoney, along with Global Leveraged Finance partners Marcus Dougherty and Spencer Pepper and associates George Miller, Jordan Hall and Joseph Principato.
