Our Finance Group helps clients navigate the business and legal complexities of novel and multidimensional debt financing transactions. We fully understand the challenges faced by borrowers, investors and lenders throughout a company’s lifecycle, from evolving techniques in acquisition finance to the tensions inherent in distressed situations. We are the firm of choice for the most innovative and complex financing matters, including bespoke structured financings and whole-business securitizations of novel assets and restructurings of multibillion-dollar companies.
AMI Completes Debt Refinancing
- Client News
- August 24, 2016
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, among others, corporate partners Brian Kim; intellectual property counsel Menachem Kaplan; tax partner Scott Sontag; and bankruptcy partner Andrew Rosenberg.