|Date Announced:||November 18, 2016|
|Date Closed:||November 18, 2016|
|Client Name:||Kissner Group Holdings LP|
On November 18, 2016, Kissner Group Holdings LP ("Kissner") and its affiliates completed a cross-border Rule 144A/Regulation S offering of $400,000,000 aggregate principal amount of 8.375% senior secured notes due 2022 and entered into a new cross-border asset-based revolving credit facility. Net proceeds of the notes offering and credit facility were applied to redeem existing notes and refinance other outstanding indebtedness and to return capital to Kissner's equityholders. The notes offering was completed by Jeffries LLC as sole book-running manager.
Headquartered in Overland Park, Kansas, Kissner is a leading, vertically-integrated bulk salt and specialty packaged salt producer focused on governmental and commercial customers in the Great Lakes, Great Plains and Midwest regions of the United States. Kissner owns and operates two rock salt mines located in Detroit, Michigan and Lyons, Kansas.
Kissner is owned by Metalmark Capital and Silvertree, a venture between Silverhawk Capital Partners and Demetree Salt, LLC, and the Kissner management team.
Bennett Jones LLP acted as Canadian legal counsel to Kissner with a team led by John Mercury and James McClary, and including Will Osler, Paul Barbeau, Steve Gow, Jordan Primeau (Capital Markets and M&A), Darcy Moch, Marshall Haughey (Tax), Karen Dawson and Noriko Shimura (Banking) and Carl Cunningham (Employment).