Baker Botts Represents QVC in $3.25 Billion Senior Secured Credit Facility
Deal Description: On October 27, 2021, QVC, Inc. announced the refinancing of its senior secured credit facility with a new amended and restated senior secured credit facility. The new senior secured credit facility is a multi-currency revolving facility, provides a line of credit of up to $3.25 billion and replaces QVC's existing $2.95 billion bank credit facility. QVC is a wholly owned subsidiary of Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP).
The multi-currency revolving facility may be borrowed by QVC (including QVC Global Corporate Holdings, LLC), Zulily, LLC and Cornerstone Brands, Inc., each a direct or indirect wholly owned subsidiary of Qurate Retail, Inc.
Baker Botts represented QVC, Zulily, Cornerstone and QVC Global in the transaction.
The Baker Botts team included:
Finance: Robert Wann (Partner, New York); Josh Espinosa (Associate, Dallas); Taylor Courtade (Associate, Dallas); Linda Oh (Associate, Dallas); and Hailey Ullmann (Law Clerk, New York)
Corporate: Samantha Hale Crispin (Partner, Dallas) and Sara Jones (Paralegal, Dallas)
Employee Benefits: Robin Melman (Partner, New York)
Intellectual Property: Tyler Beas (Senior Associate, Dallas)
International Trade/OFAC: Paul Luther (Partner, Washington, D.C.)
Tax: Tamar Stanley (Partner, Washington, D.C.); Josh Mandell (Partner, Dallas); and Peter Farrell (Senior Associate, Washington, D.C.)
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