Paul Hastings Advises Banks on the Financing of Wayne Fuel Systems Acquisition by Riverstone Holdings

June 20, 2014

New York, NY - Paul Hastings LLP, a leading global law firm, announced today that the firm represented Citigroup Global Markets Inc., UBS Securities LLC, Credit Suisse Securities (USA) LLC and BNP Paribas Securities Corp., as joint bookrunners and joint lead arrangers in connection with the financing for the acquisition of Wayne Fuel Systems, LLC, a manufacturer of petroleum fuel and compressed natural gas (CNG) dispensers and other fueling equipment, by affiliates of private equity firm Riverstone Holdings LLC from General Electric Corporation.

The financing consisted of a $75 million revolving credit facility, a $285 million first lien term loan and a $100 million second lien term loan, the proceeds of which were used to fund the purchase.

Leveraged Finance partners Richard Farley and Jeffrey Pellegrino led the Paul Hastings team, which also included associates Christopher Ross, Tahira Prince and Cecilia Wang.

In Thomson Reuters LPC 1Q 2014 League Tables the firm ranked first in “U.S. Lender Law Firm Bookrunner M&A,” and second in "U.S. Overall Law Firm M&A." Some recent M&A financings the firm has worked on include the financing for Bain Capital’s acquisition of Bob’s Discount Furniture, the financing for AEA Investors LP’s acquisition of Delta Rigging & Tools, and the financing for Media General’s acquisition of LIN Media

Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.