In the Headlines
February 3, 2010
Attorneys work three transactions at once in refinancing deal
Daily Business Review
Public Companies and Securities Partners Rodney Bell and Tammy Knight and associate Danielle Price were featured in the Daily Business Review article "Attorneys work three transactions at once in refinancing deal" published on February 3, 2010.
The article covered the attorneys' role in a complex multimillion dollar refinancing deal by Altra Holdings, a designer, producer and marketer of mechanical power transmission products. Mr. Bell, Ms. Knight and Ms. Price developed and implemented the refinancing strategy for Altra which included establishing a $50 million line of credit with JPMorgan Chase, purchasing $205.3 million in secured notes due in 2011 at 9 percent and issuing $210 million in new secured notes to large institutional investors such as mutual funds and pension funds at 8.125 percent and due in 2016.
Mr. Bell indicated that the three-pronged deal allowed Altra to have a longer term facility and a longer rate on its notes and gave them a clearer financial picture by locking in a capital structure for the next couple of years.
The article covered the attorneys' role in a complex multimillion dollar refinancing deal by Altra Holdings, a designer, producer and marketer of mechanical power transmission products. Mr. Bell, Ms. Knight and Ms. Price developed and implemented the refinancing strategy for Altra which included establishing a $50 million line of credit with JPMorgan Chase, purchasing $205.3 million in secured notes due in 2011 at 9 percent and issuing $210 million in new secured notes to large institutional investors such as mutual funds and pension funds at 8.125 percent and due in 2016.
Mr. Bell indicated that the three-pronged deal allowed Altra to have a longer term facility and a longer rate on its notes and gave them a clearer financial picture by locking in a capital structure for the next couple of years.