CPP in $700 Million Bank Financing
January 14, 2013
Cleary Gottlieb represented CPP, a portfolio company of Warburg Pincus, in connection with its new $700 million credit facility. The financing was provided by a syndicate of banks with UBS as agent, and consisted of a $415 million senior secured first lien term loan B facility, a $100 million senior secured first lien revolving facility and a $185 million senior secured second lien term loan facility. A portion of the proceeds were used to finance CPP’s acquisition of ESCO Corporation’s Turbine Technologies Group, which closed simultaneously with the financing.