Shearman And Sterling

News December 16, 2014

Shearman & Sterling Advises on KLX Inc.’s $1,200,000,000 Senior Note Offering

Shearman & Sterling represented KLX Inc. (“KLX”) in its Rule 144A/Regulation S offering $1,200,000,000 aggregate principal amount of 5.875% Senior Notes due 2022 (the “Notes”) issued in connection with KLX’s separation from B/E Aerospace, Inc. (“B/E Aerospace”). The proceeds from the offering of the Notes were initially deposited into an escrow account and released following the completion of the spin-off of KLX from B/E Aerospace on December 16, 2014. Following the completion of the spin-off transaction, the Notes became guaranteed by KLX Energy Services LLC and KLX Energy Holdings LLC.

KLX, through its two operating segments, provides mission-critical products and complex logistical solutions to support its customers' high-value assets. The Aerospace Solutions Group is the world's leading distributor and value-added service provider of aerospace fasteners and consumables, offering the broadest range of aerospace hardware and consumables and inventory management services worldwide. The Energy Services Group provides services and products for the oil and gas industry. Principal services and related rental equipment include wireline and fishing (retrieval) services and equipment, pressure control and rental equipment, including frac stacks, accommodations and surface rentals and other related components.

The Team