We advised HNI on the financing

Davis Polk advised HNI Corporation in connection with a repricing amendment to its senior secured credit agreement. Pursuant to the amendment, HNI Corporation refinanced and replaced all of its outstanding initial tranche term loan Bs with a new $498.75 million tranche of replacement loans at a lower interest rate, maturing in 2032.

Based in Iowa, HNI has been improving where people live, work and gather for more than 75 years. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment is the nation’s leading manufacturer and marketer of hearth products, which include a full array of gas, electric, wood and pellet-burning fireplaces, inserts, stoves, facings and accessories.

The Davis Polk finance team included partner Christopher Nairn-Kim and associates Zanudeen (Zane) Makorie and Nyla Rawjee. Associates Saloni Pant and Amanda Cohen provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.

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