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Latham & Watkins Advises on Staples’ Exchange Offer for Outstanding 10.75% Senior Notes Due 2027 and Consent Solicitation

May 13, 2024
Firm represented the dealer managers in the transaction.

Staples, Inc. (the Company) has announced that it has commenced an offer to exchange any and all of the Company’s outstanding 10.75% Senior Notes due 2027 held by eligible holders for newly issued 12.75% Junior Lien Secured Notes due 2030 to be issued by the Company and guaranteed by Arch Parent Inc., the parent entity of the Company, and each of the Company’s existing and future wholly owned domestic restricted subsidiaries and, if elected, cash.

Latham & Watkins LLP represents the dealer managers in the transaction with a capital markets team led by New York partners Stelios Saffos, Michael Benjamin, and Andrew Baker, with associates Hana Nah, Angel Marcial, Nick Gonzalez, Erin Gilgen, Alex Gulino, and Emma Gilmore. Advice was also provided on banking matters by Los Angeles partners Jason Bosworth and Josh Holt, with associates Thomas Alcorn and Yesenia Barberena; on tax matters by New York partner Eric Kamerman; on data privacy matters by Bay Area partner Rob Blamires, with associate Kiara Vaughn; on restructuring matters by New York partner David Hammerman, with associate Jonathan Gordon; and on compensation and benefits matters by New York partner Bradd Williamson and New York counsel Rifka Singer.