Shearman & Sterling advised Citibank, N.A., as administrative agent, on (i) a $7.5 billion three-year amended and restated credit agreement and (ii) a $7.5 billion five-year credit agreement for AT&T.

Shearman & Sterling has received seven 2018 PFI Awards, as announced in the Project Finance International Roll of Honour. This builds on the firm’s 2017 success when it received five accolades at the awards. The awards honor high performance and achievement over the past 12 months in the global project finance market.

Shearman & Sterling represented Deutsche Bank AG New York Branch, as administrative agent, in connection with senior unsecured credit facilities for Summit Hotel Properties.  The credit agreement allows up to $400 million of borrowings under a revolving credit facility and up to $200 million of borrowings under a term loan facility for a total facility capacity of up to $600 million. Additionally, the facilities contain an accordion feature which will allow Summit to increase the facilities by up to an additional $200 million (to a maximum of $800 million).

Shearman & Sterling advised Bank of America, N.A., as administrative agent, on a $1.1 billion unsecured revolving credit facility for Hasbro Inc. that amends and restates its existing unsecured revolving credit facility.

Shearman & Sterling is delighted to announce that partners Bill Nelson and Kristina Trauger join the firm today along with counsel Judy Little and John Menke. The team will be based in the firm’s Houston, Texas office.

Shearman & Sterling advised Silverfleet Capital and their portfolio company 7days on the financing of the add-on acquisition of Praxis Herning A/S, a Danish supplier of specialist workwear. Managing Directors Jesper Rasmussen and Søren Wortmann, who are the majority shareholders of Praxis, will continue to manage the business and are acquiring an interest in 7days as part of the transaction.