McDermott Will & Emery LLP today announced that it successfully represented WABCO Holdings, Inc., (NYSE: WBC), a global technology leader and supplier to the commercial vehicle industry, in connection with the negotiation of a new five-year senior unsecured multi-currency revolving credit facility of $400 million for itself and some of its subsidiaries in Belgium, Hong Kong and Singapore.
The new facility was arranged by Bank of America Securities Limited, with a syndicate of nine European, U.S. and Japanese banks. It can be increased by up to a further $150 million and will replace the Company’s existing facility with J.P. Morgan Securities, Inc. which was due to expire in July 2012. The new facility includes up to $50 million for letters of credit and up to $50 million as swingline loans.
The McDermott team was led by London partner Pierre Brochet and included Chicago-based corporate partners John Hammond and Neal White, corporate partner Tom Conaghan in Washington, D.C. and tax partner Daniel Zucker, as well as London-based tax associate Lee Khvat.
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