Flexi-Van Completes Refinancing

February 26, 2018

New York – Paul Hastings LLP, a leading global law firm, advised Flexi-Van Leasing, Inc. as issuer in the private offering of $300 million aggregate principal amount of 10.00% senior secured second lien notes due 2023 and as borrower in a $185 million asset-based revolving facility. Flexi-Van intends to use the proceeds of the offering, together of borrowings under the Revolving Credit Facility, to redeem its existing 7.875% senior notes, repay all outstanding indebtedness under its existing revolving credit facility and pay related fees and expenses. Flexi-Van is one of the largest chassis lessors in North America with a current fleet of 130,000+ units.

Leveraged Finance partners Lindsay Sparks, John Cobb and Doug Getten (Securities and Capital Markets) led the team which included associates Jason Ewart, Brian Carter, Cecilia Wang, Bianca Lee and Stephen Perry.

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 the financings for several high-profile deals, including 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 $907 million financing for Compass Power Generation, L.L.C., a portfolio company of Starwood Energy Group Global, LLC; the $2 billion refinancing for Gardner Denver, Inc.; the acquisition of DigitalGlobe, Inc. by MacDonald, Dettwiler and Associates; 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.