Paul Hastings LLP, a leading global law firm, announced that the firm has represented RBC Capital Markets, LLC, BMO Capital Markets Corp. and Deutsche Bank Securities Inc. as initial purchasers in connection with the Rule 144A/Reg S offering of $250 million of 11% senior notes due 2019 by Number Merger Sub, Inc.

 

The offering closed into escrow today and, subject to certain conditions including the consummation of the acquisition (the “Acquisition”) of 99¢ Only Stores by affiliates of Ares Management LLC and the Canada Pension Plan Investment Board, the obligations under the notes will be assumed by 99¢ Only Stores and guaranteed by certain of its subsidiaries and the net proceeds of the notes will be used to partially finance the Acquisition. 

Leveraged Finance partner Richard Farley and of counsel Randal Palach led the Paul Hastings team, which included partner Michael Baker and associates Joseph Fastiggi, Edward Holmes and Heidi Spalholz.