On September 22, 2005, Foamex LP, North America's largest manufacturer and distributor of flexible polyurethane foam and foam products, entered into a debtor-in-possession credit agreement providing for a revolving credit facility of up to US$240 million made available by a syndicate of lenders led by Bank of America, NA, as administrative agent, with Banc of America Securities LLC as sole lead arranger. Foamex concurrently entered into debtor-in-possession credit agreement providing for a term loan B facility in an aggregate amount of US$80 million made available by a group of lenders with Silver Point Finance, LLC as administrative agent. The proceeds from the two facilities will be used to refinance existing indebtedness and to finance general corporate purposes and ongoing business operations, including capital expenditures and working capital requirements, during the course of the restructuring.
Foamex was represented in Canada by their in-house counsel, Andrew Prusky, and Stikeman Elliott LLP with a team comprised of Sterling Dietze and Kelly Niebergall, and in the US by Stephen Koo and Diane Meyers at Paul, Weiss, Rifkind Wharton & Garrison LLP in New York.
Bank of America and Silver Point Finance were represented in Canada by Ogilvy Renault LLP with a team that consisted of Kevin Morley, Arnold Cohen, Mario Forte, Virginie Gauthier, Michèle Friel and Jennifer Stam. Bank of America was represented in the US by Kaye Scholer LLP in New York with a team that included Albert Fenster, Gary Bernstein, Sheryl Gittlitz, and Cynthia Patrick. Silver Point Finance was represented in the US by Schulte Roth & Zabel LLP in New York with a team that included Frederic Ragucci, James Peck and Lynn Tanner.
Foamex was represented in Canada by their in-house counsel, Andrew Prusky, and Stikeman Elliott LLP with a team comprised of Sterling Dietze and Kelly Niebergall, and in the US by Stephen Koo and Diane Meyers at Paul, Weiss, Rifkind Wharton & Garrison LLP in New York.
Bank of America and Silver Point Finance were represented in Canada by Ogilvy Renault LLP with a team that consisted of Kevin Morley, Arnold Cohen, Mario Forte, Virginie Gauthier, Michèle Friel and Jennifer Stam. Bank of America was represented in the US by Kaye Scholer LLP in New York with a team that included Albert Fenster, Gary Bernstein, Sheryl Gittlitz, and Cynthia Patrick. Silver Point Finance was represented in the US by Schulte Roth & Zabel LLP in New York with a team that included Frederic Ragucci, James Peck and Lynn Tanner.
