Daily News: April 2, 2014

Hastings Represents UBS for DRTH Holdings Buy

Paul Hastings announced the firm represented UBS AG, Stamford Branch as administrative agent in a $100 million revolver, a $225 million first lien term loan credit facility and a $127.5 million second lien term loan credit facility. UBS Securities and Jefferies Finance are joint arrangers in connection with such credit facilities.

Proceeds at closing were used to partially finance the acquisition of DRTH Holdings, an affiliate of lifting and rigging product provider Delta Rigging & Tools, by Bishop Lifting Products, an affiliate of BLP Parent and of SEI Holding Company and a portfolio company of AEA Investors, and to refinance existing debts.

Leveraged Finance partners Michael Michetti and Mario Ippolito led the Paul Hastings team, which also included associates Joseph Fastiggi, Ursula Mackey, Heidi Spalholz, Sun Kim, Tahira Prince, Mitchell Zuckerman, Cecilia Wang, Sergey Milyukov and Max Rosenberg.