Simpson Thacher Represents Lenders in $900 Million Financing for Cars.com in Connection With Its Spin-off From TEGNA
06.09.17
This is only gets display when printing
Simpson Thacher represented JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC as Joint Lead Arrangers and Joint Bookrunners in connection with $900 million in senior secured credit facilities for Cars.com Inc., consisting of a $450 million revolving credit facility and a $450 million term loan facility, in connection with its spin-off from TEGNA Inc. Following the spin-off, Cars.com became an independent, publicly traded company.
Cars.com (NYSE: CARS) is a leading online research destination for car shoppers and owners, providing a digital automotive platform that connects consumers with dealers and service and repair providers across the United States. TEGNA (NYSE: TGNA) is a media and marketing solutions company and one of the most geographically diverse broadcasters in the United States.
The Simpson Thacher team included Patrick Ryan, Ben Baucom and Katie Crumbaugh (Credit); Nancy Mehlman and Sarah Katz (Tax); Genevieve Dorment (Intellectual Property); Alisa Tschorke (ERISA); Dennis Loiacono (Real Estate); Abram Ellis and Mark Skerry (Regulatory); Tim Mulvihill (Environmental); and Joyce Xu and Shimeng Cheng (Derivatives).