October 13, 2021
APi Group Corporation, a market-leading business services provider of safety, specialty, and industrial services, has announced the pricing of the previously announced private offering by APi Escrow Corp., a wholly-owned subsidiary of the Company, of US$300 million aggregate principal amount of 4.750% Senior Notes due 2029 (the Notes). The offering is part of the financing for APi’s agreement to acquire Chubb Limited from Carrier Global Corporation. The acquisition is subject to customary approvals and is expected to close around year-end 2021.
Latham & Watkins LLP represents the initial purchasers in the offering with a capital markets team led by New York partner Erika Weinberg, with New York associates Hana Nah and Sofia Sitterson. Advice was also provided on tax matters by New York partner Bora Bozkurt, with New York associate Lukas Kutilek; on environmental matters by Washington, D.C. partner James Barrett; on data privacy & security matters by London partner Fiona Maclean, with London associate Oscar Bjartell; on benefits & compensation matters by Chicago partner Robin Struve, with Chicago associate Laura Waller; and on pensions matters by London associate Shaun Thompson.