McGuireWoods represented Strata Worldwide, a global provider of mine safety products and technologies, in a refinancing of its current debt. The new $69 million credit facilities consist of a $54 million senior secured term loan provided by Morgan Stanley Private Credit and a $15 million revolving credit facility from Wells Fargo Capital Finance.
The loans will help Strata Worldwide consolidate its outstanding debt and support other general corporate purposes.
McGuireWoods’ Penny Zacharias, Peter Butcher, Christi Davis, Laura DeGeer and Benjamin Iselin advised Strata Worldwide. The firm also represented the company in its 2017 acquisition of Precision Mine Repair.
“Assisting Strata Worldwide in this transaction demonstrates McGuireWoods’ strength advising corporate clients in complex financings,” said Zacharias, a Pittsburgh partner and member of the firm’s debt finance practice. “We look forward to helping Strata Worldwide in future deals.”
McGuireWoods is a top law firm for advising lenders and borrowers in syndicated loan transactions. The firm ranked No. 2 in deal count and No. 4 in proceeds for advising lenders in global and U.S. syndicated loans during the first three months of 2019. The firm also ranked No. 5 in deal count for advising borrowers in U.S. transactions, according to league tables published by Refinitiv.