Simpson Thacher Represents J.P. Morgan and Bank of America in Credit Facility Refinancing for Charles River Laboratories International, Inc.
09.01.10
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Simpson Thacher represented J.P. Morgan and Bank of America, as lead arrangers, in connection with a $750 million senior secured amended and restated credit facility for Charles River Laboratories International, Inc. (“Charles River”). Proceeds from the amended and restated credit facility were used to refinance the company’s existing credit facility and to repay other indebtedness. The amended and restated credit facility will also be available to fund stock repurchases, including in connection with Charles River’s recently announced accelerated stock repurchase program, as well as for general corporate purposes.
Charles River is a leading global provider of research models and associated services and of preclinical drug development services. Charles River is listed on the New York Stock Exchange.
The Simpson Thacher team included: Frank Huck, Justin Lungstrum, Tony McMahon, Dan Kay, Andy Veit and Daniel Sirkis (Banking and Credit); Jonathan Talansky (Tax); Mardi Merjian and Daniel Molina (Real Estate); Susan Kaufman (Executive Compensation and Employee Benefits); and Tim Mulvihill (Environmental). Paralegals Matt McLaughlin and Chris Garcia also provided valuable assistance.