Kirkland Represents Guitar Center on Comprehensive Refinancing Transaction
Kirkland & Ellis advised Guitar Center Inc., a leading retailer of musical instruments, lessons, repairs and rentals in the U.S., on its successful completion of a comprehensive refinancing transaction of its outstanding debt. As part of this transaction, more than 99.9% of holders of the Company’s 8.50% Senior Secured Notes due January 2026 agreed to exchange such notes for new first-lien senior secured notes due January 2029. The transaction meaningfully extends the Company’s debt maturities from 2026 to 2029. The three-year maturity extension is designed to extend the Company’s liquidity runway and provide the time necessary to deliver on its business plan.
Read the transaction press release
The Kirkland team included capital markets lawyers Pippa Bond, Alborz Tolou, Aparna Bhattacharya, Sean Choi, Ben Martin and Kylee Lyon; debt finance lawyers Dave Nemecek, Andrew Hurley, Joey Bloodworth, Aubrey Pardue and Eric Yu; restructuring lawyers Derek Hunter, Oliver Paré, Nathan Felton, Kassie Coley, Kyle Facibene and Devon Chenelle; corporate lawyers Christopher Wu, Garry Padrta, Amay Gupta and Ryan Sakazaki; litigators Josh Greenblatt, Jeffrey Zeiger and Jeffrey Goldfine; and tax lawyers Thad Davis, Anne Kim and Lauren Lin.
