Consolidated Precision Products in Refinancing
November 7, 2013
Cleary Gottlieb represented Consolidated Precision Products, a portfolio company of Warburg Pincus, in connection with the amendment and upsizing of its existing senior secured credit facilities. The financing was provided by a syndicate of banks with UBS as agent, and consisted of a $125 million incremental term commitment increase and a $25 million incremental revolving commitment increase under its existing first lien facility and a refinancing and upsizing of its existing second lien term loan facility to $240 million, bringing the total amount of its credit facilities to $905 million. The proceeds from additional loans under the facilities were used to pay a dividend to Warburg Pincus and other shareholders.