SunOpta’s $325 Million Refinancing of Credit Facilities


Simpson Thacher represented SunOpta in the transaction.

SunOpta Inc. (“SunOpta”) (NASDAQ: STKL) executed the refinancing, and entered into, of new $325 million credit facilities, consisting of a $75 million delayed draw term loan facility and a $250 million asset-based revolving credit facility. In connection with the refinancing, SunOpta sold its global ingredients business segment and used a portion of the proceeds therefrom to redeem SunOpta Foods Inc.’s (a subsidiary of SunOpta) outstanding 9.5% Senior Secured Second Lien Notes due 2022.

SunOpta is a leading global company focused on plant-based foods and beverages, fruit-based foods and beverages, and organic ingredient sourcing and production.

The Simpson Thacher team included Brian Steinhardt (Picture), Robert Meyer, Arman Naraghi-Pour and Simone Worthy (Credit – U.S.); Emma Lynam (Credit – U.K.); Jonathan Ozner (Capital Markets); Dennis Loiacono (Real Estate); Genevieve Dorment (Intellectual Property); and Sophie Staples and Edward Grais (Tax).

Involved fees earner: Genevieve Dorment – Simpson Thacher & Bartlett; Edward Grais – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; Emma Lynam – Simpson Thacher & Bartlett; Robert Meyer – Simpson Thacher & Bartlett; Arman Naraghi-Pour – Simpson Thacher & Bartlett; Jonathan Ozner – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Brian Steinhardt – Simpson Thacher & Bartlett; Simone Worthy – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: SunOpta Inc.;

Avatar

Author: Ambrogio Visconti