Dorman Completes $450 Million Senior Notes Offering and Credit Facility Refinancing
Simpson Thacher recently represented Dorman Products, Inc. (“Dorman”), in connection with its inaugural Rule 144A/Regulation S offering of $450 million aggregate principal amount of its 6.250% Senior Notes due 2034 and an amendment to its existing credit agreement, which refinanced Dorman’s existing revolving credit facility with a new five-year revolving credit facility in an aggregate principal amount of $800 million. Dorman used the net proceeds from the notes offering to repay indebtedness outstanding under its existing credit facilities (including the repayment of its existing term loans in full) and to fund general corporate purposes.
Dorman is a leading supplier of replacement and upgrade parts in the motor vehicle aftermarket industry, serving passenger cars, light-, medium and heavy-duty trucks, as well as specialty vehicles, including utility terrain vehicles and all-terrain vehicles. Dorman is the home of DORMAN® OE FIX™, HELP!®, Conduct-Tite®, Dayton Parts®, SuperATV®, Keller Performance Products, Assault Industries, Gboost and GDP – collectively offering bumper-to-bumper aftermarket solutions.
The Simpson Thacher team for this transaction included Richard Fenyes, Matt Hart and Louise Choi (Capital Markets); Adam Moss, Caroline Tompkins, Anita Wu, Ryan Lin and Jamie Zhang (Banking and Credit); Jon Cantor and Spencer Landis (Tax); Tristan Brown (ECEB); Christine Song, Corina DeFeo, Courtney Welshimer and Matthew Richardson (IP).