Dechert Advises TCW Asset Management on New Credit Facility with Midcap Financial Trust for Regis' Debt Refinancing

July 03, 2024

Dechert advised TCW Asset Management Company LLC (“TCW”), a leading global asset manager, on its entry into a new senior secured credit facility with Regis Corporation (“Regis”), a leader in the haircare industry, and Midcap Financial Trust (“Midcap”), a privately held leading middle-market specialty finance firm that provides debt solutions to companies.

This strategic refinancing marks a significant milestone for Regis, paving the way for sustainable long-term growth and value creation. A US$105 million term loan replaces Regis’s existing debt, reducing outstanding indebtedness by more than US$80 million and saving approximately US$7 million in cash interest annually. Additionally, Regis will have access to a US$25 million revolving credit facility.

The Dechert team advising TCW included corporate partners Eliot Relles and Stephanie Haas, as well as associates Casey Klein, Frank Pecorelli, James Audet and Verónica Casellas Santana; tax partner David Passey and associate Ishani Kundu-Sahni.

About Dechert

Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients' rights in extreme situations. Our nearly 1,000 lawyers across 20 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.

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