New York – Paul Hastings LLP, a leading global law firm, announced today that it is representing Wells Fargo as Administrative Agent on a $200 million asset-based revolving credit facility for Bumble Bee Foods. The loan will be used to fund Bumble Bee’s Chapter 11 bankruptcy proceedings, of which Wells Fargo is also involved as First Lien Lender.
As part of the Chapter 11 proceedings, Bumble Bee has reached an agreement to sell its assets to Taiwan’s FCF Fishery Co. for approximately $925 million. Bumble Bee expects to complete the transaction in early 2020.
The Paul Hastings team representing Wells Fargo on the loan and bankruptcy proceeding is led by partners Peter Burke and Andrew Tenzer, with support from partners Jennifer Yount and Kathy Bell, attorney John Flippen, and associate Lauren Schwartz.
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