Ropes & Gray represented Rodan + Fields in securing consent from nearly all its lenders to the companys non-pro-rata uptier debt exchange. With the help of Ropes & Gray, Rodan + Fields negotiated and launched a cutting-edge uptier debt exchange in April 2023 initially supported by 74% of the companys lenders to address $800 million of secured debt. Upon closing the transaction just three weeks later with near-unanimous lender participation, Rodan & Fields reduced its debt burden by over $100 million, raised $30 million of new money senior secured capital, and extended the maturity of its existing l…
Read the full article at: https://www.ropesgray.com/en/newsroom/news/2023/05/ropes-gray-represents-rodan-fields-in-uptier-exchange-resulting-in-near-unanimous-lender