Simpson Thacher Represents J.P. Morgan in SRAM Financing Transaction
06.10.11
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Simpson Thacher represented J.P. Morgan, as administrative agent, collateral agent and sole bookrunner, in connection with a $655 million first lien credit facility and a $185 million second lien credit facility for SRAM, LLC (“SRAM”). Proceeds from the loans were used to refinance SRAM’s existing credit facilities and to redeem certain of the outstanding common and preferred equity interests in SRAM Holdings, LLC, the direct parent of SRAM, as well as for general corporate purposes.
SRAM is a leading manufacturer of high-end bicycle components. The company intends to launch its IPO later this year.
The Simpson Thacher team included Patrick Ryan, Hayley Urkevich and David Eshmoili (Banking and Credit); Alvin Brown and Stephanie Mash (Executive Compensation and Employee Benefits); Mardi Merjian (Real Estate); Michael Isby (Environmental); Meryl Rosen (Intellectual Property); Christian Miller (Tax); Erik Hepler (Collateral); Jonathan Pall (UCC); summer associate Liz Muscarella and paralegal Alan Stein.