Cars.com’s $430 Million Debt Refinancing

Simpson Thacher represented JPMorgan Chase Bank, N.A., as lead arranger, in the transaction, while Latham & Watkins represented Cars.com.

Cars.com executed the refinancing and extension of its credit facilities in the aggregate principal amount of $430 million, comprised of a $230 million senior secured revolving credit facility and a $200 million senior secured term loan facility.

Cars.com is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace Cars.com and headquartered in Chicago, Cars.com empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers.

The Simpson Thacher team included Art Robinson (Picture), David Azarkh, Ashley Yoon, Christine Turner and Deul Lim (Capital Markets); Patrick Ryan, Stephanie Rotter and Essete Workneh (Banking and Credit); Jonathan Cantor and Zachary Fialkow (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Lori Lesser, Genevieve Dorment and Loren Shokes (Intellectual Property); Michael Isby (Environmental); Timothy Gallagher (Real Estate); Mark Skerry (Regulatory); and Andrew Pagliughi (Blue Sky).

Latham & Watkins represented Cars.com with a team led by Chicago partners Christopher Lueking, Roderick Branch and Noah Weiss, with counsels Manasi Bhattacharyya and Ryan LaFevers, and associates Austin Arnett, Gladys Moon, Sara Mykrantz, Jill He and Greer Gaddie. Advice was also provided on tax matters by Chicago partners Diana Doyle and Rene De Vera, with associate Christopher Ohlgart; on investment fund matters by Chicago partner Nabil Sabki, with associate John Reinert; on environmental matters by Chicago counsel Sara Orr; on cybersecurity matters by Washington, D.C. partner Jennifer Archie; on intellectual property matters by Chicago partner Matthew Walch; and on employment and benefits matters by Chicago partner Robin Struve.

Involved fees earner: Jennifer Archie – Latham & Watkins; Austin Arnett – Latham & Watkins; Manasi Bhattacharyya – Latham & Watkins; Roderick Branch – Latham & Watkins; Enrique Rene de Vera – Latham & Watkins; Diana Doyle – Latham & Watkins; Greer Gaddie – Latham & Watkins; Ryan LaFevers – Latham & Watkins; Christopher Lueking – Latham & Watkins; Gladys Moon – Latham & Watkins; Sara Mykrantz – Latham & Watkins; Christopher Ohlgart – Latham & Watkins; Sara Orr – Latham & Watkins; John Reinert – Latham & Watkins; Nabil Sabki – Latham & Watkins; Robin Struve – Latham & Watkins; Matthew Walch – Latham & Watkins; Noah Weiss – Latham & Watkins; David Azarkh – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Zachary Fialkow – Simpson Thacher & Bartlett; Timothy Gallagher – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Deul Lim – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Stephanie Rotter – Simpson Thacher & Bartlett; Patrick Ryan – Simpson Thacher & Bartlett; Loren Shokes – Simpson Thacher & Bartlett; Mark Skerry – Simpson Thacher & Bartlett; Christine Turner – Simpson Thacher & Bartlett; Essete Workneh – Simpson Thacher & Bartlett; Ashley Sunha Yoon – Simpson Thacher & Bartlett;

Law Firms: Latham & Watkins; Simpson Thacher & Bartlett;

Clients: Cars.com; JP Morgan Chase & Co.;

Avatar

Author: Ambrogio Visconti