Springs Window Fashions, a provider of custom window coverings, closed a capital raise and refinancing of a portion of its outstanding debt. As part of this transaction, Springs Window Fashions entered into a new first-out term loan facility and revolving credit facility providing liquidity, a new second-out term loan facility to refinance substantially all of its outstanding term loan and a new second lien notes instrument in exchange for a portion of its outstanding senior notes. In addition, Springs Window Fashions extended the maturity of certain of its debt instruments, including its ABL facility, thereby moving its nearest maturities from 2026 to 2028.
Latham & Watkins represented the administrative agent and the revolving credit facility lenders in the transaction with a finance team led by partners Michele Penzer, Joe Zujkowski and George Klidonas, with associates Tulika Sinha, William Council and Youn Song. Advice was also provided on tax matters by partner Jocelyn Noll.
