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Legal News

Cahill Represents Financing Sources in New $435 Million Credit Facility for Dayco

Date: 12/12/13

Cahill represented Bank of America, N.A. as administrative agent; Merrill Lynch, Pierce, Fenner & Smith Incorporated as lead arranger; and the other arrangers in connection with the $375,000,000 senior secured term loan and $60,000,000 senior secured asset-based revolving credit facility for Dayco Products, LLC and Dayco Canada Corp., a leader in the research, design, manufacturing and distribution of a broad range of belts, tensioners and pulleys for the automotive, trucking, construction, agricultural and industrial markets. Proceeds from the loans were used to refinance existing indebtedness and for general corporate purposes.