Platinum-Backed Oregon Tool Increases Liquidity by About $150m

Platinum Equity-backed Oregon Tool closes financing transactions that boosted its liquidity by $150m and reduced pre-transaction debt by over $75m.

• Extended maturities dates to 4Q 2029
• Transactions supported by substantial majority of the capital structure, including 100% of RCF lenders, about 83% in amount of existing term loans and about 81% in amount of existing unsecured notes
• Company subsidiary Oregon Tool Lux LP (NewCo), issued about $156m principal amount of new first lien debt, in the form of term loans
  • Revolving Credit Facility lenders exchanged into a new first lien Revolving Credit Facility at NewCo
• NOTE: Platinum-Backed Oregon Tool, Creditors ...