PSAV Intermediate Corp. and AVSC Holding Corp.’s $2.3 Billion of First Lien Credit Facilities

Cravath represented the administrative agent and collateral agent in connection with the arrangement of $2.3 billion first lien credit facilities made available to PSAV Intermediate Corp. and AVSC Holding Corp. to refinance certain term loan facilities and secured notes. The facilities included a $1.2 billion B-1 term loan facility, a $511 million B-2 term loan facility and a $563 million B-3 term loan facility. The transaction closed on December 4, 2020.

The Cravath team included partner George E. Zobitz, senior attorney Kimberly A. Grousset and associate Emily C. Weiss on banking matters, and partner J. Leonard Teti II and associates Richard Bohm and Leon B. Dalezman on tax matters.