Pure Fishing, a company in the fishing tackle industry and a portfolio company of Sycamore Partners, closed a refinancing transaction of its outstanding debt.
As part of this transaction, Pure Fishing entered into a new five-year, $750 million first lien credit facility with a consortium of lenders including Monarch Alternative Capital and Silver Point Finance as co-lead lenders. The proceeds of the new debt financing are being used to repay the company’s existing term and asset-backed loans in full. The transaction provides Pure Fishing with additional long-term capital as the company continues its growth trajectory.
“Pure Fishing is the #1 player with the best collection of brands in the industry. We are pleased with the successful completion of this transaction, which fully addresses our debt maturities and further strengthens our financial position,” Dave Allen, CEO of Pure Fishing, said. “We look forward to continuing to grow our iconic brands, drive innovation and execute on our strategic plan.”
Lazard served as sole financial advisor and Kirkland & Ellis served as legal advisor to Pure Fishing. Milbank served as legal advisor to the lenders.
