Namco Pool Company Gets Life Preserver, Successfully Restructuring Secured Debt
Olshan client Namco, LLC, a large Northeast based retail chain of pools, pool accessories, chemicals and other recreational equipment, has successfully completed its refinancing. The restructuring of Namco's first and second lien debt involved new financing with a third party, which formed an LLC to refinance the debt. The financing is comprised of an inventory tranche and a revolver that together should solidify Namco in the Northeast market as the premier pool and pool supply company. Michael Fox, the head of Olshan's Bankruptcy and Restructuring group, served as lead restructuring counsel for Namco.