Associated Materials Announces Completion of Previously Announced Recapitalization Transactions

August 26, 2020

New York - Paul Hastings LLP, a leading global law firm, announced today that the firm represented UBS AG, Stamford Branch, as administrative agent and certain other leading financial institutions as lenders, in connection with the maturity extension of Associated Materials, LLC’s ABL facility to 2024. In conjunction with the extension, Associated Materials also completed a series of recapitalization transactions including the issuance of $250 million senior secured notes, resulting in a total liquidity in excess of $200 million and a net leverage to around two times adjusted EBITDA. Associated Materials, LLC is a North American manufacturer and distributor of exterior building products.

Finance partner Mario Ippolito led the Paul Hastings team, which also included of counsel Danny Choi and associates Mitchell Zuckerman, Soufi Mirfakhraei, Bianca Lee, and Annie Zhao.

The Paul Hastings Leveraged Finance team consists of more than 100 lawyers focusing on key markets across Asia, Europe, Latin America, and the U.S. Our lawyers advise many of the largest and most sophisticated financial institutions around the world. The Leveraged Finance team recently advised on several high-profile financing deals, including the $3 billion financing announced for Bain’s acquisition of Kantar from WPP; the $2.2 billion financing of the acquisition of Campbell Soup’s international operations by KKR; £2.5 billion financing announced for Advent’s acquisition of Cobham and Starwood Energy’s $1.23 billion acquisition of combined-cycle gas turbine power plants from Dominion Energy.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.