Brightstar Capital Partners (BCP), a private equity firm focused on partnering with founders, entrepreneurs and management teams, has announced that an affiliate of BCP has priced a private offering of US$420 million aggregate principal amount of 9.75% Senior Secured Notes due 2025. The Notes are being offered in connection with BCP's previously announced acquisition of a majority of the equity interests of Brightstar Global Group, Inc., the parent company of Brightstar Corp. (the Company). An affiliate of SoftBank Group Corp., the Company's current majority owner, will retain a minority stake in the Company. The offering of the Notes is expected to close on or about October 15, 2020, subject to customary closing conditions.
Latham & Watkins LLP represented the initial purchaser in the offering with a capital markets team led by New York partners Stelios Saffos and Andrew Baker, with associates Gemma Mootoo Rajah, Andrew Weitzel, and Egzon Sulejmani. Advice was also provided on banking matters by New York partners Jesse Sheff and Abhay Lele, with associates Jonathan Goldberg and Alexa West; on tax matters by New York partner Jiyeon Lee-Lim, with associate Lea Li; and on IP matters by New York partner Jeffrey Tochner, with associate Max Miroff.