Rinchem to Combine With Dupré Logistics

Paul, Weiss is advising Stonepeak portfolio company Rinchem Company, LLC, operator of the world’s largest chemical and gas distribution network, on its debt exchange and new money financing in connection with its combination with Louisiana-based Dupré Logistics. Dupré is a North American leader in chemical supply chain logistics. Financial terms of the transaction were not disclosed.

Per the terms of the financing, a substantial majority of Rinchem’s lenders will, among other things, invest approximately $100 million and exchange up to about $300 million of their existing term loans for new loans with maturities extended by two years to 2031. Additionally, all of Rinchem’s revolving lenders agreed to, among other things, extend the maturity of Rinchem’s revolving credit facility for over three years to 2030.

The Paul, Weiss team is led by partners Paul Basta, Brian Bolin and Eric Wedel, and includes corporate partner Michael Montgomery; tax partner Robert Holo and counsel Daniel Bleiberg; executive compensation partner Jarrett Hoffman; and intellectual property partner Claudine Meredith-Goujon.