Ropes & Gray Represents Medical Device and Aerospace Manufacturing Company Tecomet in Capital Structure Refinancing
Ropes & Gray advised Tecomet on the refinancing of its capital structure to provide the company with increased operational and financial flexibility.
The transaction extends the maturity of Tecomet’s capital structure with a new ABL revolving credit facility and a six-year, privately placed first-lien term loan. All obligations under the company’s prior credit and notes agreements were paid in full.
Tecomet, a Woburn, Mass.-based company with global operations, designs and manufactures orthopedic, robotic-assisted and minimally-invasive surgical products, as well as precision components for the aerospace and defense industry. The company announced the agreement in a July 11 press release.
The Ropes & Gray team was led by business restructuring partners Ryan Preston Dahl and Ben Rhode, finance partner Michael Lee and capital solutions & private credit partner Leo Klingbaum, private equity partners PJ Sullivan and Taylor Hart, tax partners Scott Pinarchick and Ben Rogers, and litigation & enforcement partner Dan McCaughey.