Corporate Group Completes Senior Secured Credit Facility for Public Client

The firm represented a NASDAQ listed public company in the outdoor recreation and consumer products industries in connection with its negotiation and closing of a senior secured cash flow credit facility with a consortium of banks led by JP Morgan Chase Bank, N.A. The credit agreement provides for borrowings of up to $60.0 million under a revolving credit facility (including up to $5.0 million for letters of credit), and borrowings of up to $40.0 million under a delayed draw term loan facility.  The credit agreement also permits the borrowers, subject to certain requirements, to arrange with lenders for an aggregate of up to $50.0 million of additional revolving and/or term loan commitments (both of which are currently uncommitted), for potential aggregate revolving and term loan commitments under the Credit Agreement of up to $150.0 million.  Kane Kessler attorneys involved in the transaction were Robert Lawrence, Aris Haigian, Gary Constable, Jonathan Zalkin, Matthew Gases, and James Gaskill.