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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.
Spectrum Brands Refinances U.S. Tranche B Term Loans
- Client News
- December 18, 2013
Paul, Weiss client Spectrum Brands, Inc. (SPB) closed on its previously announced issuance of a $215 million U.S. term loan due September 2019 and a new €225 million Euro term loan due September 2019. Spectrum Brands Europe GmbH, a German subsidiary of SPB, incurred such new Euro term loans. Net proceeds from the term loans were used to replace SPB's existing $513 million U.S. term loan B due December 2019. Concurrently with the closing of the new term loans, SPB entered into an Eighth Amendment to its ABL Loan and Security Agreement. This is SPB's third significant refinancing in 366 days.
The Paul, Weiss team advising SPB included corporate partners Eric Goodison and Raphael Russo; real estate partner Peter Fisch; and tax partner Richard Bronstein.