New York, August 13, 2021 – Proskauer, a leading international law firm, announced today that it advised Bed Bath & Beyond Inc. in refinancing and upsizing its existing credit facility with a $1 billion five-year asset-based revolving credit facility (ABL Facility) with a syndicate of large commercial banks.
The ABL Facility expires in August 2026 and replaces the company’s existing $850 million ABL, which Proskauer advised the company on last year in the early days of the pandemic.
A longstanding Proskauer client, Bed Bath & Beyond Inc. is an omnichannel retailer that makes it easy for its customers to feel at home. The company sells a wide assortment of merchandise in the Home, Baby, Beauty and Wellness markets.
The Proskauer team advising Bed Bath & Beyond was led by partner Andrew Bettwy (Finance) and included associates Ryan Harris (Finance) and Sarah Moore (PCG).
Proskauer’s Finance Group focuses on a wide range of transactions across the debt markets. The firm’s lawyers have remarkable breadth of expertise in acquisition finance, leveraged lending, fund finance, workouts and restructurings, investment grade and commercial lending, structured products and specialty financings.
About Proskauer
We are 725+ lawyers serving clients from 12 offices located in the leading financial and business centers in the Americas, Europe and Asia. The world’s leading organizations, companies and corporations choose us to be their representatives in their most critical situations. We work with asset managers, major sports leagues, Fortune 500 companies, entertainment industry legends and other industry-redefining companies.
Our Finance Group is well positioned to engage in transactions around the world, with offices in major financial centers in the U.S., Europe, Asia and South America. Our clients include financial institutions, direct lenders, private equity sponsors, public and closely held companies, asset managers, investment funds, private wealth funds and family offices.
The diversity of our finance practice gives us unparalleled market knowledge, and our representation of both lenders and borrowers provides us with the ability to appreciate critical deal points from the perspective of all parties to the transaction.