Shearman And Sterling

News January 27, 2022

Fluidra’s (Zodiac Pool Solutions) Approximately $1.758 Billion Financing

Shearman & Sterling advised HSBC Bank USA, N.A., as Term Loan administrative agent and collateral agent, Banco Bilbao Vizcaya Argentaria, S.A. as Revolving Facility administrative agent and Citibank, N.A., London Branch, HSBC Continental Europe and Banco Bilbao Vizcaya Argentaria, S.A., as joint lead arrangers, on a refinancing consisting of a $750 million term loan facility, a €450 million term loan facility, and a €450 million revolving credit facility for Zodiac Pool Solutions LLC as U.S. borrower and certain of its affiliates as borrowers, to refinance the company’s existing term loan and revolving facilities, to repay and terminate the company’s existing ABL facility, and to fund working capital and for general corporate purposes.

Fluidra, S.A., together with its subsidiaries, manufactures and markets accessories and machineries for swimming pools, irrigation and water treatment and purification for private and public customers worldwide. The company designs, manufactures, and distributes various components required for the construction, refurbishment, improvement and maintenance of residential and commercial pools.

Zodiac Pool Solutions LLC manufactures automatic pool cleaners, pool equipment, and connected pool solutions. The company was founded in 2016 and is based in Vista, CA. Zodiac Pool Solutions LLC operates as a subsidiary of Zodiac Pool Solutions S.a r.l.

The team below was supported by associates Camille Massé-Pfister and Kevin Finkelstein (both New York-Finance).

The Team