Shearman And Sterling

News Mar 17, 2014

Shearman & Sterling Advises Lead Arrangers in Refinancing and Dividend Recapitalization for Payless ShoeSource

Shearman & Sterling advised Morgan Stanley Senior Funding, Inc., Jefferies Finance LLC and MerchCap Capital Markets LLC as lead arrangers in connection with a $665 million financing, including a $520 million first lien term loan facility and a $145 million second lien term facility, related to the refinancing and dividend recapitalization of Payless ShoeSource, owned by Golden Gate Capital and Blum Capital Partners.

The Shearman & Sterling team included partner Maura O’Sullivan (New York-Finance); counsel Robert Fagiola (New York-Real Estate); and associates Matthew Gautier (New York-Finance), Jamal Al-Haj (New York-Corporate Group), Zheng Bao (Palo Alto-Intellectual Property Transactions), Jeff Saccone (New York-Finance) and Julia Twarog (New York-Corporate Group).