Oneida Ltd.’s revolving, asset-based loan facility

Choate represented Bank of America Business Capital as the agent, lender and issuing bank in connection with a revolving, asset-based loan facility to Oneida Ltd., Anchor Hocking, LLC, Oneida Canada, Limited, Anchor Hocking Canada, Inc. and certain affiliates, providers of consumer and commercial tabletop and food preparation products in the U.S. and Canada.

The financing also included revolving commitments to Oneida’s U.S. and Canadian entities, and extensive intercreditor negotiations with the borrowers’ term lenders.

Oneida Ltd. manufactures and markets stainless steel flatware and tabletop products for homes, fine dining establishments, family restaurants, and hotels in the United States and internationally. It offers stainless, silver-plated, and sterling flatware products; China dinnerware, banquet ware, and crystal and glassware items; stainless steel and silver-plated hollowware; fine flatware, casual flatware, child and baby flatware, individual pieces, and flatware storage products; and dining products, including dinnerware, serve ware, drink ware, and decor and accessories.

Choate advised with a team including John F. Ventola (Picture), Mark D. Silva, Shaina Wamsley London, Melissa W. Gaied and Alex Bossone

Involved fees earner: John Ventola – Choate; Mark Silva – Choate; Shaina Wamsley London – Choate; Melissa Gaied – Choate; Alex Bossone – Choate;

Law Firms: Choate;

Clients: Bank of America Business Capital ;


Author: Ambrogio Visconti