Latham Advises on CRC Insurance Group’s $200 Million Senior Secured Notes Offering

CRC Insurance Group, LLC, a Delaware limited liability company and successor-in-interest of Panther Escrow Issuer, LLC, and CRC Co-Issuer, Inc., a Delaware corporation, are offering US$200 million in aggregate principal amount of 7.125% senior secured notes due 2031. The issuers previously issued US$3 billion in aggregate principal amount of 7.125% senior secured notes due 2031.

Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets and banking team led by Stelios Saffos, Global Chair of Latham’s Capital Markets Practice, and partners Andrew Baker, Salvatore Vanchieri, Michele Penzer, and Victor Ludwig, with associates Paul Lau, Kate Bell, Alex Gulino, Emma Gilmore, Jun Lei Lee, and Gavin Tan, with assistance from Olivia Wagner. Advice was also provided on tax matters by partner Bora Bozkurt, with associate Claire Park; on financial regulatory matters by partners Laura Ferrell and Jennifer Tian and counsel Naim Culhaci; on executive compensation, employment, and benefits matters by partner Bradd Williamson, with associate Seokwon Lee; on insurance matters by counsel Benjamin Lee; and on data privacy and cybersecurity matters by partner Robert Brown, with associate Austin Anderson.