The Firm represented J.P. Morgan, as initial purchaser, in a 144A/Regulation S offering of $335 million 12.00% Senior Secured Notes by DirectBuy Holdings, Inc.
DirectBuy is one of the largest membership-based consumer buying clubs in North America, focusing on providing wholesale prices to the members of its franchised and company-owned clubs.
The Simpson Thacher team for the transaction included Steve Feder, Simone Bono, Michele Murphy and Richard Wang (Capital Markets), Erik Hepler (Secured Transactions), David Woll and Joshua Kiman (Litigation), Christian Miller (Tax), Lori Lesser (IP), Mike Isby (Environmental) and Jeanne Annarumma (Executive Compensation and Employee Benefits).