We are advising the lead arranger on the financing

Davis Polk is advising the lead arranger in connection with $2.5 billion of committed debt financing to be provided to Crocs, Inc. The financing consists of a $2 billion senior secured term loan B facility, which will be used to finance the cash consideration for the acquisition of HEYDUDE, and a $500 million backstop senior secured revolving credit facility, while the company seeks to obtain an amendment to its existing senior secured revolving credit facility to, among other things, permit the acquisition and the incurrence of additional indebtedness to fund the acquisition.

Crocs (NASDAQ: CROX) is a leading casual footwear brand, combining comfort and style with a value consumers want. Recognized globally for the iconic clog silhouette, Crocs has taken its successful formula of simple design aesthetic paired with modern comfort and expanded into a variety of casual footwear products and accessories.

HEYDUDE, a privately-owned casual footwear brand, was founded in Italy in 2008 to develop comfortable, versatile and accessible footwear and accessories. HEYDUDE believes its innovative, ultra-light comfort and casual yet versatile style are a winning combination.

The Davis Polk finance team includes partner Kenneth J. Steinberg and associates Mario Babić, Gala Laurent and Aaron Shubert. The environmental team includes counsel David A. Zilberberg. Counsel Kevin A. Brown and associate Justin Alexander Kasprisin are providing advice with respect to labor, employment and employee benefit matters. Counsel Bonnie Chen and associate Joshua Cameron Shirley are providing intellectual property advice. Associate Kendall Howell is providing sanctions advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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