Paul W.Johnson III

Associate

Dallas + 1.214.969.4888

Paul Johnson is a federal tax lawyer practicing primarily in the areas of corporate tax, U.S. and cross-border M&A, financings, securities offerings, and tax-exempt entities. He advises clients from a wide variety of industries on tax-related issues, including federal and international tax planning, compliance, withholding, and reporting.

Paul has extensive experience in providing tax advice on offerings of U.S. and foreign issuer stock, investment-grade, high yield, and convertible notes and complex financial instruments. Paul also works with clients to secure and maintain tax-exempt status for nonprofit organizations and advises on the federal tax implications for these organizations. In addition, he advises clients with respect to the energy tax credits, including those introduced by the Inflation Reduction Act.

Experiencia

  • TransDigm reprices $3.6 billion of existing tranche J and I term loansJones Day represented TransDigm Group Incorporated and certain of its subsidiaries in connection with the Amendment No. 16, Loan Modification Agreement and Refinancing Facility Agreement, pursuant to which, among other things, TransDigm (x) repriced almost $1 billion of its existing term loans J maturing February 28, 2031 and (y) amended and extended $2.6 billion of its existing term loans I by converting such loans into term loans J.
  • Global producer of residential and commercial building materials completes $2 billion Senior Notes offeringJones Day represented a global producer of residential and commercial building materials in connection with its $2 billion registered offering of Senior Notes (the “Notes”).
  • Timken completes €600 million public offering of Senior NotesJones Day represented The Timken Company, a global technology leader in engineered bearings and industrial motion, in connection with the underwritten public offering of €600 million aggregate principal amount of 4.125% Senior Notes due in 2034.
  • Global producer of residential and commercial building materials completes exchange offerJones Day represented a global producer of residential and commercial building materials in connection with its offer to exchange any and all outstanding 3.50% Senior Notes due 2030 issued by a leading global provider of interior and exterior doors and door systems, for new 3.50% Senior Notes due 2030 issued by a global producer of residential and commercial building materials.
  • MPLX completes $1.65 billion public offering of Senior NotesJones Day represented MPLX LP in connection with a public offering of $1.65 billion aggregate principal amount of 5.500% Senior Notes due 2034.
  • VSE Corporation completes $150 million public offering of Common StockJones Day represented VSE Corporation (NASDAQ: VSEC) in connection with an underwritten public offering of 2,112,676 shares of VSE's Common Stock at a price of $71.00 per share (before underwriting discounts and commissions).
  • Global producer of residential and commercial building materials completes cash tender offerJones Day represented a global producer of residential and commercial building materials in connection with its offer to purchase for cash any and all outstanding 5.375% Senior Notes due 2028 issued by a leading global provider of interior and exterior doors and door systems.
  • Northern States Power completes $400 million public offering of First Mortgage BondsJones Day represented Northern States Power Company, a Wisconsin Corporation and wholly-owned subsidiary of Xcel Energy Inc., in connection with its underwritten public offering of $400 million in aggregate principal amount of 5.65% First Mortgage Bonds, Series due June 15, 2054.
  • Avient reprices its $726 million term loanJones Day represented Avient Corporation, an Ohio corporation, in connection with the repricing of its $726 million term loan credit agreement with Citibank, N.A., as administrative agent.
  • PHINIA Inc. completes $525 million Senior Secured Notes offering and amends credit agreementJones Day represented PHINIA Inc. in connection with (i) a Rule 144A and Regulation S offering of $525 million aggregate principal amount of 6.75% Senior Secured Notes due 2029 and (ii) an amendment to the credit agreement that governs the company's existing credit facilities to modify certain covenants, remove the mandatory prepayment provision based on quarterly and annual operating cash flow calculations, and increase the required total net leverage ratio under the company's financial covenant.
  • Public Service Company of Colorado completes $1.2 billion public offering of First Mortgage Bonds, including $750 million of Green BondsJones Day represented Public Service Company of Colorado, a wholly-owned subsidiary of Xcel Energy Inc., in connection with its underwritten public offering of $1.2 billion aggregate principal amount of first mortgage bonds comprised of $450 million aggregate principal amount of 5.35% First Mortgage Bonds, Series No. 41 due May 15, 2034 and $750 million aggregate principal amount of 5.75% First Mortgage Bonds, Series No. 42 due May 15, 2054 (Green Bonds).
  • TransDigm completes additional $550 million Senior Secured Notes offering and reprices $6.2 billion of existing tranche H and I term loansJones Day represented TransDigm Group Incorporated (“TransDigm Group”), a leading global designer, producer, and supplier of highly engineered aircraft components, in connection with the Rule 144A and Regulation S offering by TransDigm Inc., its wholly-owned subsidiary, of an additional $550 million aggregate principal amount of 6.375% Senior Secured Notes due 2029 (the “Notes”).
  • Cleveland-Cliffs completes $825 million Senior Unsecured Notes offeringJones Day represented Cleveland-Cliffs Inc. (the "Company"), the largest flat-rolled steel producer and manufacturer of iron ore pellets in North America, in connection with its Rule 144A and Regulation S offering of $825 million aggregate principal amount of 7.000% Senior Unsecured Guaranteed Notes due 2032 (the "Notes").
  • Global producer of residential and commercial building materials amends and extends its $300 million accounts receivable securitization facilityJones Day advised a global producer of residential and commercial building materials in connection with its $300 million receivables facility with PNC Bank, National Association.
  • Northern States Power completes $700 million public offering of Green BondsJones Day represented Northern States Power Company, a Minnesota Corporation and wholly-owned subsidiary of Xcel Energy Inc., in connection with its underwritten public green bond offering of $700 million in aggregate principal amount of 5.40% First Mortgage Bonds, Series due March 15, 2054.
  • Xcel Energy completes $800 million public offering of 5.50% Senior NotesJones Day represented Xcel Energy Inc. in connection with its underwritten public offering of $800 million in aggregate principal amount of 5.50% Senior Notes, Series due March 15, 2034.
  • TransDigm completes $4.4 billion Senior Secured Notes offering and extension and increase of its revolving credit facility to $910 millionJones Day represented TransDigm Group Incorporated (“TransDigm Group”), a leading global designer, producer and supplier of highly engineered aircraft components, in connection with the Rule 144A and Regulation S offering by TransDigm Inc., its wholly-owned subsidiary, of $2.2 billion aggregate principal amount of 6.375% Senior Secured Notes due 2029 and $2.2 billion aggregate principal amount of 6.625% Senior Secured Notes due 2032 (collectively, the “Notes”).
  • Citibank refinances $125 million revolving credit facility for global payments software companyJones Day represented Citibank, N.A., as administrative agent, in connection with the refinancing of a $125 million revolving credit facility for a global payments software company.
  • ETS acquires PSIJones Day advised Educational Testing Service (ETS) in its acquisition of PSI Services LLC, a global leader in test development and delivery across workforce certification and licensure.
  • TransDigm completes $1 billion Senior Secured Notes offering and $1 billion incremental term loanJones Day represented TransDigm Group Incorporated (“TransDigm Group”), a leading global designer, producer and supplier of highly engineered aircraft components, in connection with the Rule 144A and Regulation S offering by TransDigm Inc., its wholly-owned subsidiary, of $1 billion aggregate principal amount of 7.125% Senior Secured Notes due 2031 (the “Notes”).