We advised an ad hoc group of term lenders on the series of transactions

Davis Polk advised an ad hoc group of first-lien term lenders to Oregon Tool, Inc. in connection with new money, maturity extension and refinancing exchange transactions involving a new $156 million first-lien term loan to a newly formed subsidiary (“NewCo”), the maturity extensions of certain first-lien term loans and the exchange of first-lien term loans and unsecured notes for newly issued NewCo second-lien loans and NewCo third-lien debt.

The various transactions were well supported by the existing first-lien term lenders and unsecured noteholders.

Oregon Tool is a global leader and manufacturer of professional grade cutting tools for forestry, lawn and garden, farming, ranching and agriculture and concrete cutting applications. Headquartered in Portland, Oregon, with a multinational manufacturing and distribution footprint, Oregon Tool sells its products in more than 110 countries.

The Davis Polk restructuring team included partners Damian S. Schaible, Natasha Tsiouris and Christian Fischer, counsel Josh Y. Sturm and Timothy H. Oyen and associates Andrew Frisoli, Helen (Muhan) Zhang, Carly (Yoona) Cha and Eva (Luying) Wang. All members of the Davis Polk team are based in the New York office.

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