Masco $1.5 billion credit facilities
Davis Polk advised Masco Corporation, a Delaware corporation, and Masco Europe S.à r.l., a société à responsabilité limitée under the laws of the Grand Duchy of Luxembourg, in connection with a $1 billion revolving credit facility and a $500 million delayed-draw term loan facility. The proceeds of the credit facilities will be available to Masco for general corporate purposes including, but not limited to, acquisitions, refinancing of Masco’s existing revolving credit facility and working capital purposes.
Based in Livonia, Michigan, Masco is one of the world's largest manufacturers of brand-name products for the home improvement and new home construction markets, with an emphasis on brand name products and services holding leadership positions in their markets. Masco is also a leading provider of a variety of installed products and services, including insulation, for homebuilders.
The Davis Polk finance team included partner Hilary Dengel, counsel Jonathan B. Brown and associates Yuko Sin and Ian Kitts. The tax team included partner Po Sit and associate Tyler Scheiner. Counsel Will Schisa provided sanctions advice. Counsel Charles Shi provided ERISA advice. Partner Gregory S. Rowland and counsel Sarah E. Kim provided ’40 Act advice. Members of the Davis Polk team are based in the New York and Washington DC offices.