We advised the borrower on the transaction

Davis Polk advised Ultra Clean Holdings, Inc. in connection with a refinancing and incremental facility amendment to its existing credit agreement pursuant to which the company incurred an approximately $475 million refinancing term loan credit facility and an approximately $25 million incremental term loan credit facility. Pursuant to the amendment, the existing credit agreement was amended to, among other things, extend the maturity date of the term loan and revolving credit facilities by 30 months and reduce the interest rates applicable to the term loan facilities. The proceeds of the refinancing term loan facilities were used at closing to refinance in full the existing term loan credit facilities of the company and to pay related fees and expenses. After the closing date, the proceeds of the revolving and term loan credit facilities will be used to provide ongoing working capital and for other general corporate purposes.

Headquartered in Hayward, California, Ultra Clean Holdings is a leading developer and supplier of critical subsystems, components and parts, and ultra-high purity cleaning and analytical services primarily for the semiconductor industry.

The Davis Polk finance team included partner J.W. Perry, counsel Jonathan B. Brown and associate Jacob Goldberger. Counsel Jason Bassetti provided general corporate advice. Partner Mark J. DiFiore provided capital markets advice. Partner Patrick E. Sigmon provided tax advice. Partner David R. Bauer provided intellectual property advice. Counsel David A. Zilberberg provided environmental advice. Counsel Will Schisa provided sanctions advice. Counsel Leon E. Salkin provided Investment Company Act advice. Members of the Davis Polk team are based in the New York, Northern California and Washington DC offices.

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