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David’s Bridal Finalizes Out-of-Court Recapitalization

Paul, Weiss advised David’s Bridal in an out-of-court recapitalization transaction. In connection with the transaction, which closed last week, David’s Bridal, the nation’s leading bridal and special occasion retailer, received $55 million of new capital from existing lenders, enabling the company to execute on its business plan and capitalize on future growth opportunities. The company also exchanged more than $275 million in existing term loan debt into new preferred and common equity securities. The transactions significantly deleveraged the company’s balance sheet, materially reduced its annual debt service obligations, and positioned David’s Bridal for long-term success.  

The Paul, Weiss team included restructuring partners Alan Kornberg and Elizabeth McColm and counsel Diane Meyers; corporate partners Kenneth Schneider and Ellen Ching and partner elect Austin Witt; tax partner Patrick Karsnitz; and employee benefits counsel Reuven Falik.

December 6, 2019

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