Davis Polk advised UBS AG, Stamford Branch, as administrative agent and UBS Securities LLC, Morgan Stanley Senior Funding, Inc. and Goldman Sachs Lending Partners LLC, as lead arrangers in connection with a refinancing of Brand Energy and Infrastructure Services, Inc.’s (Brand) existing first-lien and second-lien senior secured credit facilities. The new credit facilities consist of an $850 million first-lien senior secured credit facility, comprised of a $775 million term loan facility and a $75 million revolving credit facility, a $300 million second-lien senior secured term loan facility and a $50 million cash collateralized letter of credit facility. The obligations under the first-lien and second-lien credit facilities are guaranteed by certain of Brand’s domestic subsidiaries and, with respect to obligations of the Canadian borrower, guaranteed by Brand and all of Brand’s Canadian subsidiaries, and secured by substantially all of the assets of Brand and the guarantors. Brand is using the proceeds of the credit facilities to refinance its existing first-lien and second-lien credit facilities and for general corporate purposes.

Brand is the leading diversified provider of specialty multi-craft services to the North American downstream energy infrastructure market. Its extensive portfolio of service offerings includes work access, specialty coatings, abrasive blasting, insulation, refractory, corrosion protection, weatherproofing and other related crafts. Brand operates in four key energy sectors: refining, Canadian Oil Sands, petrochemical and power generation. The company also serves the infrastructure construction markets throughout North America and in strategic international regions.

The Davis Polk credit team included partner James A. Florack, associates Jeong M. Oh and Mhairi C. Immermann and law clerk Victoria Y. Ha. The tax team included partner Po Sit and law clerk Catherine Paskoff Chang. Katherine S. Stewart was the legal assistant on the transaction. Members of the Davis Polk team are based in the New York and Menlo Park offices.



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