Hastings Advises Jefferies in Financing Bain’s Acquisition
Paul Hastings represented Jefferies Finance in connection with the financing of Bain Capital’s acquisition of 50% of the membership interests in TOMS Shoes, a shoe company that matches every pair of shoes purchased with a pair of new shoes given to a child in need. Since then, TOMS’s giving has grown to serve other basic needs. TOMS Eyewear gives sight to a person in need with every pair of eyewear purchased, and TOMS Roasting gives one week of clean water to a person in need for every bag of coffee purchased.
The firm represented Jefferies Finance as administrative agent, lead arranger and bookrunner, in connection with a $306.5 million term loan credit facility, and Bank of America, as administrative agent; and Merrill Lynch and Jefferies Finance as joint lead arrangers and joint bookrunners, in connection with a $60 million ABL for TOMS Shoes.
Leveraged Finance partners Michael Chernick and Mario Ippolito led the Paul Hastings team, which also included associates Jared Bryant, Paul Henesy and Cecilia Wang.