News & Events

The Firm represented JPMorgan Chase Bank and Wachovia Bank as the lead arrangers in connection with the closing of amendments to the $5.25 billion credit facility of QVC, Inc. As a part of the amendments and extensions, Liberty Media Corporation, the parent company of QVC, Inc., purchased and retired $750 million of loans, leaving a $4.48 billion bank credit facility that will mature in six tranches between June 2011 and March 2014. 

Headquartered in West Chester, Pennsylvania, QVC, Inc. is one of the world’s largest multimedia retailers. Last year, QVC, Inc. received more than 181 million phone calls in the United States alone, and shipped 166 million units worldwide. Net sales for the 2007 fiscal year resulted in more than $7 billion. 

The STB team included Jim Buresh, Michael Josenhans and Adedayo Banwo (Credit); Susan Kaufman (Executive Compensation and Employee Benefits); Paralegals Alan Stein and Kimberly McMenamy and Summer Associate Richard Wang also provided valuable assistance to the team.