Citizens and Other Banks Provide Financing for Champion Home Builders

June 07, 2018

New York – Paul Hastings LLP, a leading global law firm, announced today that the firm represented Citizens Bank, N.A., as administrative agent and Citizens Bank, N.A., JPMorgan Chase Bank, N.A., Royal Bank of Canada, Jefferies Finance LLC and Wells Fargo Bank, N.A. as joint lead arrangers and joint bookrunners in connection with a $100 million revolving credit facility for Champion Home Builders, Inc. and its new parent company Skyline Champion Corporation.

Skyline Champion Corporation was formed via a merger between Champion Enterprises Holdings, LLC and Skyline Corporation and it is now the largest independent factory-built housing company in the United States with combined revenue of more than $1.3 billion and a leading portfolio of manufactured and modular homes, park-models and modular buildings for the multi-family, hospitality, senior and workforce housing sectors. Prior to the merger, Champion Home Builders, Inc. was majority owned by funds affiliated with Bain Capital Credit, Centerbridge Partners, L.P. and MAK Capital.

Leveraged Finance partner Mario Ippolito led the Paul Hastings team, which also included partner Michael Baker and associates Mitchell Zuckerman, Matthew Bartlett and law clerk Victoria Luttman.

The Paul Hastings Leveraged Finance team has advised on the financings for several high-profile deals, including the £1 billion acquisition of Laird PLC by Advent International; the $3.55 billion financing in connection with Meredith Corporation’s acquisition of Time Inc.; the $4.75 billion financing for Bass Pro Group, LLC’s acquisition of Cabela’s Incorporated; the $575 million financing of GTCR’s strategic investment in Vivid Seats; the $907 million financing for Compass Power Generation, L.L.C., a portfolio company of Starwood Energy Group Global, LLC; the $1.25 billion financing for Dynegy Inc.; and the $9.45 billion acquisition of Energy Future Holdings by Sempra 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.