Daily News: December 20, 2013

Hastings Represents RBC and KeyBank on Norcraft ABL

Paul Hastings announced it represented Royal Bank of Canada, serving as administrative agent, in connection with a $150 million term loan and a $25 million ABL; and Royal Bank of Canada and KeyBank, serving as arrangers, in connection with credit facilities for Norcraft Companies.

The facility replaced the existing ABL facility, and proceeds of the term loan were used to redeem exiting second lien notes.

Leveraged finance partners Michael Baker and Mario Ippolito led the Paul Hastings team, which also included of counsel Sanjay Thapar and associates Julie Park and Kareem Roe.

Norcraft Companies offers a comprehensive portfolio of cabinetry lines for the kitchen and bath industry.