The high-yield notes are part of the financing for an Apollo-led investor group’s acquisition of Atlas Air

Davis Polk advised the representatives of the several initial purchasers in connection with the offering by Rand Parent, LLC of $850 million aggregate principal amount of its 8.500% senior secured notes due 2030. Upon satisfaction of certain escrow conditions, the proceeds of the notes will be used to fund the acquisition of Atlas Air Worldwide Holdings, Inc. and to pay related fees, costs, premiums and expenses. These notes are part of the debt financing provided to an investor group led by Apollo Global Management, Inc. in connection with its acquisition of Atlas Air.

Apollo Global Management, Inc. is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, New Delhi, Singapore, Hong Kong, Shanghai, Tokyo and Sydney.

Atlas Air Worldwide Holdings, Inc. is a leading global provider of outsourced aircraft and aviation operating services and the largest outsourced air freight provider in the world.

The Davis Polk capital markets team included partner Michael Kaplan, counsel Stephen A. Byeff and associate Christopher Piazza. Partner Jason Kyrwood, counsel Demian von Poelnitz and associates Jason Palios and David Waldman provided finance advice. Partner Corey M. Goodman and associate Daniel L. Jose provided tax advice. Environmental advice was provided by counsel David A. Zilberberg. Members of the Davis Polk team are based in the New York and Washington DC offices.

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