Cabinetworks Completes Significant Debt Refinancing

Paul, Weiss advised an ad hoc group of Cabinetworks Group lenders on a successful series of financing transactions, including an approximately $100 million new money financing and the refinancing and extension of existing loans. Cabinetworks is the largest privately held cabinetmaker in the U.S. and provides cabinets for new, remodeled and repaired buildings.

The transactions involved Cabinetworks affiliate ACProducts Holdings Inc. and were supported by approximately 98% of lenders under ACProducts’ existing senior secured term loan facility, the holders of about 96% of its outstanding unsecured notes due 2029 and all the lenders under its existing asset-backed loan facility.

The Paul, Weiss team included restructuring and debt capital solutions partners Brian Hermann and Brian Bolin, and counsel Sarah Harnett; tax partner Anne McGinnis and counsel Samir Kurani; litigation partner William Clareman; and intellectual property partner Claudine Meredith-Goujon.