Milbank LLP advised the arrangers led by Bank of America in raising $8.7 billion of senior secured credit facilities and the book-running managers in placing $4.5 billion of senior secured notes led by J.P. Morgan and $2.5 billion senior notes led by Goldman Sachs to finance the $32 billion acquisition of Medline Industries LP (“Medline”) by Blackstone Inc., The Carlyle Group, Inc. and Hellman & Friedman LLC. The acquisition is the largest leveraged buyout since the financial crisis in 2007.
Medline is a leading manufacturer and distributor of medical supplies. Headquartered in Northfield, Illinois, Medline serves more than 50,000 customers in the United States and is the prime vendor to over 850 customers across 5,400 locations.
The Global Leveraged Finance team was led by partners Marcus Dougherty and Michael Bellucci and associates Christopher Hahm, Jacques Zelnik and Camille Gibeault. The Global Capital Markets team was led by partners Rod Miller and Jonathon Jackson, special counsel Lesley Janzen and associates Ian Dummett, Connor Adams and Alyssa Julian.
