Simpson Thacher Represents J.P. Morgan in Nebraska Book Company, Inc. DIP Financing Transaction
07.01.11
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Simpson Thacher represented J.P. Morgan, as administrative agent, collateral agent, sole arranger and sole bookrunner, in connection with a $200.0 million secured superpriority debtor-in-possession credit facility for Nebraska Book Company, Inc (“NBC”).
NBC, which operates 292 retail bookstores and is one of the largest wholesale distributors of used college textbooks in North America, filed for protection under Chapter 11 on Monday, June 27, 2011, after key creditors agreed to the terms of a pre-arranged filing. The DIP financing consists of a $125.0 million one-year term loan and a $75.0 million one-year asset-based revolver.
The Simpson Thacher team included Peter Pantaleo and Samantha Braunstein (Bankruptcy); James T. Knight, Christian Fischer and Darwon Choe (Banking & Credit); Mardi Merjian (Real Estate); Marcela Robledo (Intellectual Property); Seojung Park and Adam Wells (Tax); summer associate Tiffanye Threadcraft and paralegal Matt Nester.