Shearman And Sterling

News December 07, 2018

$1 Billion Financing for GOBP Holdings

Shearman & Sterling advised Morgan Stanley Senior Funding, Inc., as administrative agent, on a $1 billion financing for GOBP Holdings, Inc., as borrower, consisting of (i) a $750 million senior term loan facility, (ii) a $150 million subordinated term loan facility and (iii) a $100 million revolving credit facility to repay the borrower’s existing debt, to pay a dividend to the borrower’s parent entity and for general corporate purposes. The deal was sponsored by Hellman & Friedman LLC.

GOBP Holdings, Inc., the parent of Grocery Outlet Inc., operates grocery stores and is based in Berkeley, California.

The Team