Kaye Scholer Represents Gulf Coast Asphalt Company in Debt Refinancing
Kaye Scholer LLP represented Gulf Coast Asphalt Company, LLC in a debt refinancing and related internal restructuring. The transaction included a $40 million term loan facility with Medley Capital Corporation and certain of its affiliates, the proceeds from which were primarily used to refinance Gulf Coast Asphalt Company’s existing indebtedness. In a related transaction, Gulf Coast Asphalt Company converted its existing loan from IBERIABANK into a $15 million revolving credit facility.
Gulf Coast Asphalt Company, LLC is a full service liquid bulk storage terminal company and provider of liquid asphalt products headquartered in Houston, Texas, with facilities in Mobile, Alabama.
Steven Canner and Sheryl Gittlitz led the Kaye Scholer team, with assistance from Michael Ben-Jacob, Jeffrey Scheine, David Sausen, Mary Lou Zwick, David Kim and Roxanne Mintz.