White & Case advises Deutsche Bank Securities Inc. on credit facilities as part of a US$2.02 billion financing for Clayton, Dubilier & Rice’s acquisition of Shearer’s Foods

Global law firm White & Case LLP has advised Deutsche Bank Securities Inc., as left lead arranger on US$1.52 billion credit facilities as part of an acquisition financing.

The financing, which comprised a US$1.22 billion senior secured term loan B facility and a US$300 million senior secured revolving credit facility, were used, together with the proceeds of a concurrent US$500 million senior secured notes offering, to finance Clayton, Dubilier & Rice's acquisition of Shearer's Foods from the Ontario Teachers' Pension Plan Board.

Shearer's Foods is a leading contract manufacturer and private label supplier serving the snack industry in the United States and Canada.

The White & Case Debt Finance team was led by partner Christoffer Adler (Los Angeles), and included associates Ben Ludewig, Spencer Paveck (both in New York) and Rhiannon Jones (Los Angeles).

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