Simpson Thacher recently represented National Vision Holdings, Inc. (Nasdaq: EYE) in connection with two related transactions.
The Firm acted as counsel to National Vision in the repurchase of approximately $218 million aggregate principal amount of its 2.50% Convertible Senior Notes due 2025.
Simpson Thacher also represented National Vision in connection with a joinder to its existing credit agreement to provide for, among other things, $115 million of incremental term loans. The proceeds of the new term loans, together with cash on hand, were used to fund the convertible notes repurchase.
National Vision is one of the largest optical retail companies in the United States with over 1,200 stores in 38 states and Puerto Rico. The company operates four retail brands including, America’s Best Contacts & Eyeglasses, Eyeglass World, Vista Opticals inside select Fred Meyer stores and on select military bases, and e-commerce website DiscountContacts.com.
The Simpson Thacher team included Joe Kaufman, Lia Toback and John Strubing (Capital Markets); Eli Isak, Mari Zaldivar and Mark Marzziotti (Credit); and Michael Mann (Tax).