Goldman Sachs served as both administrative and collateral agent on a joinder and amendment which established new $200 million first lien term loans for eyewear retailer National Vision.
SMART Global Holdings, the parent company of SMART Modular Technologies, refinanced the senior secured credit agreement of its operating group, increasing the principal amount of the term loans from $151 million to $165 million. KKR Capital Markets served as left lead arranger.
Cengage Leasing announced it has emerged from Chapter 11, having completed its finance restructuring. A lender group led by Citibank, acting as ABL facility agent, provided $1.75 billion in exit financing.
The New York Times reported Kohlberg Kravis Roberts agreed to buy Sedgwick Claims Management Services, a provider of insurance claims processing, for $2.4 billion.
Dow Jones reported Cengage Learning is requesting bankruptcy-court permission to pay fees associated with obtaining financing of up to $2 billion to support the company’s operations after it exits Chapter 11.
Reuters reported that Citigroup, Morgan Stanley and KKR Capital Markets hosted a meeting for the purpose of offering $1.3 billion of loans, including a $350MM ABL, to investors to support Del Monte Pacific’s acquisition of Del Monte Foods.
Paul Hastings advised the bank group in connection with the financing of private equity firm KKR’s $3.9 billion acquisition of Gardner Denver, a worldwide manufacturer of highly engineered products.