Cravath represented Credit Suisse Securities (USA) LLC, Barclays Capital Inc. and Goldman, Sachs & Co. in their roles as the initial purchasers of $475 million of senior notes of Buccaneer Merger Sub, Inc. (“Buccaneer”) in a Rule 144A offering that closed on December 22, 2010. Buccaneer is owned by a fund managed by The Carlyle Group and will serve as the acquisition vehicle for Carlyle’s leveraged buy-out of Syniverse Holdings, Inc. (“Syniverse”) in a transaction valued at $2.7 billion. Syniverse is a leading global provider of interoperability services used by wireless telephone carriers.
The proceeds of the Buccaneer notes have been placed into escrow and will be available as a source of financing for the acquisition, pending satisfaction of customary closing conditions.
