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Clients rely on our Finance Group to help them navigate the business and legal complexities of novel and multi-dimensional debt financing transactions. Our versatile finance practitioners work closely with our mergers and acquisitions, securities, tax, real estate and bankruptcy lawyers to provide seamless advice and innovative solutions that address our clients' debt financing needs related to all types of transactions and capital structures.

AMI Completes Debt Refinancing

Paul, Weiss client American Media, Inc. (AMI), which owns and operates leading celebrity and lifestyle media brands in the United States, announced that it successfully completed the refinancing of its outstanding indebtedness and discharged its obligations under its existing revolving credit facility, the indenture governing its 11.5% first lien senior secured notes due 2017 and the indenture governing its 7.000% second lien senior secured notes due 2020. As part of the refinancing, AMI also entered into (i) a new first lien credit facility, providing for a $30 million revolving credit facility and a $150 million term loan facility, (ii) a new indenture governing its 5.500% second lien senior secured notes due 2021 and (iii) a new indenture governing its zero coupon subordinated notes due 2022.

The Paul, Weiss team advising AMI in connection with the refinancing included corporate partners Brian Kim and Tracey Zaccone; intellectual property counsel Menachem Kaplan; tax partner Scott Sontag; and bankruptcy partner Andrew Rosenberg.

August 24, 2016

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