Waldencast Acquisition, which last month completed mergers with skin care brands Obagi and Milk Makeup, has secured a $250 million credit facility, reports the Global Legal Chronicle.
Walkers Global and Simpson Thacher & Bartlett advised JP Morgan and other global financial institutions as lenders on the SPAC’s acquisition of Obagi and Milk Makeup. Skadden, Arps, Slate, Meagher & Flom acted as legal advisor to Waldencast, Latham & Watkins acted as legal counsel to Obagi and Goodwin Procter served as legal counsel to Milk Makeup.
The acquisitions, with deal values of approximately $1.2 billion, represent Waldencast’s first step in a strategy to create a global multi-brand beauty and wellness platform.
Waldencast’s wholly-owned subsidiary Waldencast Finco Limited entered into a credit agreement, by and among Waldencast Finco as the borrower, Waldencast Partners as the parent guarantor, the lenders party thereto and JPMorgan Chase Bank as administrative agent. Credit Suisse AG, New York Branch acted as documentation agent and JPMorgan Chase Bank, Banco Santander, and Wells Fargo Securities were joint bookrunners and joint lead arrangers under the credit agreement. Read more.
