Latham & Watkins Advises Vertiv In Offering of US$850 Million of Senior Secured Notes

Vertiv Holdings Co (Vertiv), a global provider of critical digital infrastructure and continuity solutions, announced that its subsidiary, Vertiv Group Corporation, priced at par its offering of US$850 million aggregate principal amount of Senior Secured Notes due 2028. The Notes will bear interest at 4.125% per annum and mature on Nov. 15, 2028. The Issuer intends to use the net proceeds from the offering, together with cash on hand, to finance the cash portion of the purchase price of Vertiv’s pending acquisition of E&I Engineering Ireland Limited and its affiliate, Powerbar Gulf LLC, and to pay fees and expenses related to the Acquisition and the Offering. The Offering is expected to close on Oct. 22, 2021, subject to customary closing conditions.

Latham & Watkins LLP represents Vertiv in the Offering and the Acquisition, with a Texas-based corporate team led by Austin partner David Miller and Houston partners Nick Dhesi and Trevor Lavelle with associates Om Pandya, Michael Pascual, Ziyad Barghouthy, and Brian Bruzzo. Advice was also provided on finance matters by Houston partner Pamela Kellet with associate Benjamin Gelfand; on tax matters by Houston partners Bryant Lee and Jim Cole with associate Dominick Constantino; and on environmental matters by Los Angeles counsel Joshua Marnitz.