Kontoor Brands’ $1.55 Billion Credit Facilities

Simpson Thacher represented the Joint Lead Arrangers and Joint Bookrunners in the deal.

Kontoor Brands, Inc. offered $1.55 billion new senior secured credit facilities, consisting of a $750 million term loan A facility, a $300 million term loan B facility and a $500 million revolving credit facility.

JPMorgan Chase Bank, N.A., Barclays Bank PLC, BofA Securities, Inc., HSBC Securities Inc. and Wells Fargo Securities, LLC, acted as Joint Lead Arrangers and Joint Bookrunners.

Kontoor Brands, Inc. is a newly formed public company upon consummation of the spinoff by V.F. Corporation of its Jeanswear and VF Outlet™ businesses from its remaining businesses. Upon consummation of the spinoff, Kontoor Brands, Inc. will be a global apparel company focused on the design, manufacturing, sourcing, marketing, and distribution of its portfolio of brands, including its brands Wrangler® and Lee®.

The Simpson Thacher team included Jessica Tuchinsky (Picture), Benjamin Persina, Harini Mekala and Melissa Parres (Banking and Credit); Robert Holo and Sergio Torres (Tax); Andrew Blau and Caitlin Grimes (ECEB); Melanie Jolson (Intellectual Property); and Michael Isby (Environmental).

Involved fees earner: Andrew Blau – Simpson Thacher & Bartlett; Caitlin Grimes – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Harini Mekala – Simpson Thacher & Bartlett; Melissa Parres – Simpson Thacher & Bartlett; Benjamin Persina – Simpson Thacher & Bartlett; Sergio Torres – Simpson Thacher & Bartlett; Jessica Tuchinsky – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Bank of America Securities; Barclays Bank; HSBC Securities; JPMorgan Chase & Co.; Wells Fargo Securities;

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Author: Ambrogio Visconti