Latham & Watkins Advises the Joint Lead Arrangers and Joint Bookrunners in Financing of Apollo’s Acquisition of Tech Data
On June 30, 2020, Apollo Global Management, Inc. announced the completion of its affiliates’ acquisition of Tech Data Corporation (Tech Data), one of the world’s largest technology distributors.
Latham represented the lead arrangers and bookrunners in providing asset-based loan (ABL) credit facilities totaling US$4.87 billion comprising a US$2.8 billion ABL Revolving Credit Facility, a US$1.7 billion ABL Term Loan, and a US$370 million First-in-Last-Out Term Loan Facility to support Apollo’s acquisition of Tech Data. The financing is a groundbreaking global ABL and one of the largest asset-based lending deals ever — and the largest in the last three years, according to Bloomberg — calling for a cross-border deal team from 12 offices:New York
- The core transactional team representing the lead arrangers was led by banking partners Alfred Xue and Conray Tseng, with associates Seung-Ju Paik, Natasha Goddard, Helen Liu, Julia Wennberg, and Alexa West.
- Other team members in New York included finance partners Melissa Alwang, Eugene Mazzaro, Michèle Penzer, Larry Safran, and Jane Summers, with counsels Jonathan Wry and Brian Rock and associates Lillian Xiao, Victor Ludwig, and Kamal Nesfield; corporate partner Stelios Saffos, with associate Daley King; tax partner Bora Bozkurt, with associate Lea Li; and benefits and compensation partner Bradd Williamson, with associate Brian DeShannon.
- Trial partner Kevin Chambers and counsels Annie Froehlich and Rachel Alpert
- Finance partner Vik Puri and counsel Cindy Caillavet
- Finance partners Ross Anderson and Jeremiah Wagner, with associates PakWai Wu, Tracy Liu, and Boin Cheong
- New York/London litigation and trial partner Michael Lacovara
- Finance counsel Etienne Gentil, with associate Anas Benmalek
- Corporate counsel Frank Bierwirth, with associates Alexander Vorndran and Peter Neuboeck
- Finance partner Fernando Colomina, with associates Pablo Alarcón, Jesús Miralles de Imperial, and Luis Lopez
- Finance partner Marcello Bragliani, with counsel Mauro Saccani
- Litigation and trial counsel Antonio Distefano
- Finance partner Christian Jahn
- Finance partner Gary Hamp, with associates Jeffrey Wong and Zarmina Tirmzi
- Finance partner Timothy Hia, with associates Howe Min Wee and Marc Tan