Paul Hastings Represents UBS As Agent In Restructuring of PlayPower
New York, NY - Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today that the firm represented UBS AG, Stamford Branch as the agent on a senior credit facility, which worked with company lenders to restructure and arrange additional financing for PlayPower, an international manufacturer of playground equipment.
Under the terms of the agreement, UBS arranged for PlayPowers lenders to extend maturities and restructure approximately $121 million in debt and to provide an additional working capital facility. In addition PlayPower received $45 million in investment funds from Apollo Investment Corp. to complete the restructuring whereby Apollo will own 100 percent of the company.
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