The first-lien notes are due 2029

Davis Polk advised Brookfield Asset Management Inc. in connection with the Rule 144A / Regulation S offering by Central Parent Inc. and Central Merger Sub Inc., of $750 million aggregate principal amount of their 7.250% first-lien notes due 2029. The gross proceeds of this offering were placed into escrow accounts and, together with borrowings under new first-lien and second-lien credit facilities and an equity contribution, will be used to fund the acquisition by Brookfield of all of the outstanding shares of common stock of CDK Global Inc.

Brookfield Asset Management is a leading global alternative asset manager with a 120-year history and operations across a broad portfolio of real estate, infrastructure, renewable power, private equity and credit assets. CDK Global is a leading provider of retail technology and software as a service (SaaS) solutions that help dealers and auto manufacturers run their businesses more efficiently, drive improved profitability and create frictionless purchasing and ownership experiences for consumers.

The Davis Polk capital markets team included partners Michael Kaplan and Marcel Fausten and associates Claudia Carvajal Lopez, Robert MacKenzie and Courtney Clark. The finance team included partner Hilary Dengel and counsel Jonathan B. Brown and Benjamin Cheng. The tax team included partner David H. Schnabel and counsel Aliza Slansky. All members of the Davis Polk team are based in the New York office.

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