Davis Polk advised Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC as joint bookrunners and joint lead arrangers and Credit Suisse AG as administrative agent and collateral agent in connection with an $800 million senior secured revolving credit and term loan facility provided to Roundy’s Supermarkets, Inc. The closing of the credit facility occurred simultaneously with the initial public offering of the stock of Roundy’s indirect parent company.

 

The obligations under the credit facility are guaranteed by Roundy’s direct parent company and certain of Roundy’s domestic subsidiaries and secured by substantially all of the assets of Roundy’s and the guarantors. Roundy’s used the proceeds of the credit facility to refinance its existing first-lien and second-lien credit facilities. 

Roundy’s is a leading grocer in the Midwest with nearly $4 billion in sales and more than 18,000 employees. Founded in Milwaukee in 1872, the company operates 159 retail grocery stores and 97 pharmacies under the Pick ’n Save, Rainbow, Copps, Metro Market and Mariano’s Fresh Market retail banners in Wisconsin, Minnesota and Illinois. 

The Davis Polk corporate team included partner Sartaj Gill and associates Peter T. Bazos and Steven Schuh. The tax team included partner Po Sit and associate Patrick E. Sigmon. Counsel James P. McIntyre and associates Lucie E. Shin and Benjamin J. Bibler provided real estate advice. Associate Randy Samson provided intellectual property advice. Courtney J. Mitchell was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.