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Germany : Simpson Thacher Represents Initial Purchasers and Lenders in Debt Refinancing Transactions by Lee Enterprises, Incorporated.

Simpson Thacher recently represented J.P. Morgan Securities LLC and Deutsche Bank Securities Inc., as initial purchasers, in the offering by Lee Enterprises Incorporated ( Lee ) of $400 million aggregate principal amount of 9.5% Senior Secured Notes due 2022. The firm also represented JPMorgan Chase Bank, N.A., as a joint lead arranger, together with Deutsche Bank Securities Inc., in connection with Lee s new $250 million first lien term loan, $40 million first lien revolving loan and $150 million second lien term loan. Lee intends to use the net proceeds from the notes offering, together with borrowings under the new first and second lien term loans and cash on hand, to repay in full amounts outstanding under its existing first and second lien credit facilities and to pay all related fees and expenses.

Lee is a leading provider of local news and information, and a major platform for advertising, in the markets it serves, which are located primarily in the Midwest, Mountain West and Western regions of the United States.

The Simpson Thacher team for this transaction included: Art Robinson, Patrick Baron, Karen Wang, Ryan Castillo, Lauren Shohat and Nakita Cuttino (Capital Markets); Patrick Ryan, Steve Fuhrman, Soogy Lee, Chad Pearlman, Daniel Avezbaki and Erica Lee (Banking and Credit); Janet Nadile, Jay Rao and Jonathan Pall (Collateral); Jonathan Goldstein and Michael Cardella (Tax); Genevieve Dorment and Jennifer Gaudette (Intellectual Property); Adeeb Fadil and Noreen Lavan (Environmental); Andrew Pagliughi (Blue Sky); and Mardi Merjian (Real Estate).

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Publication:Mena Report
Date:Apr 4, 2014
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