Chewy, Inc.’s $300 Million Asset-Based Revolving Credit Facility

Davis Polk advised the administrative agent, joint lead arrangers and joint bookrunners in connection with a $300 million asset-based revolving credit facility for Chewy, Inc.

The proceeds of the facility will be used for working capital and general corporate purposes.

Chewy is the largest pure-play pet online retailer in the United States. Its mission is to be the most trusted and convenient online destination for pet parents everywhere. Chewy partners with more than 1,600 of the best and most trusted brands in the pet industry to bring a high-bar, customer-centric experience to its customers.

Wells Fargo Bank and JP Morgan Chase Bank, N.A. acted as joint lead arrangers and joint bookrunners in the deal.

The Davis Polk finance team included partners Monica Holland (Picture) and Kenneth J. Steinberg, counsel David Hahn and associates Kelsey Avery and Michael P. Raymond. The tax team included partner David H. Schnabel and associate Tomislava Dragicevic. The environmental team included counsel Loyti Cheng. Partner Pritesh P. Shah provided intellectual property and technology advice. Counsel Sangeeta Reddy provided real estate advice.

Involved fees earner: Kelsey Avery – Davis Polk & Wardwell; Loyti Cheng – Davis Polk & Wardwell; Tomislava Dragicevic – Davis Polk & Wardwell; David Hahn – Davis Polk & Wardwell; Monica Holland – Davis Polk & Wardwell; Michael Raymond – Davis Polk & Wardwell; Sangeeta Reddy – Davis Polk & Wardwell; David Schnabel – Davis Polk & Wardwell; Pritesh P. Shah – Davis Polk & Wardwell; Kenneth Steinberg – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: JPMorgan Chase & Co.; Wells Fargo;

Author: Ambrogio Visconti