Simpson Thacher Represents Initial Purchasers and Lenders in Debt Refinancing Transactions for Nebraska Book Company, Inc.
10.07.09
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Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities Inc., in connection with the issuance by Nebraska Book Company, Inc. of $200 million aggregate principal amount of 10% senior secured notes due 2011 and the completion of a $75 million asset-based (ABL) revolving credit facility. The senior secured notes and the ABL revolving credit facility are guaranteed by, and secured with assets of, Nebraska Book's wholly-owned U.S. subsidiaries. The ABL revolving credit facility is additionally guaranteed by, and secured with assets of, certain of Nebraska Book's parent companies. Nebraska Book used the proceeds from the senior secured notes offering to repay borrowings under its existing credit facilities.
Nebraska Book Company operates over 275 stores serving colleges and universities with more than 2 million students. The Company's Textbook Division serves more than 2,500 bookstores through the sale of over 6.5 million textbooks, and its Complementary Services Division has installed more than 1,100 technology platforms.
The Simpson Thacher team for the transactions included Art Robinson, Ryan Bekkerus, Simone Bono, Estella Chen and Chase D'Agostino (Capital Markets); J.T. Knight, Colette Pollitt and Brandon Messina (Credit); Erik Hepler (Collateral); Rian Balfour (Tax); Mardi Merjian and Frank Giovinazzo (Real Estate); Marcela Robledo and Crystal Frierson (Intellectual Property); Susan Kaufman (Executive Compensation and Employee Benefits); Timothy Mulvihill (Environmental); and Mark Rapisarda and William McGuire (Paralegals).