On January 31, 2005, Accuride Corp. (Accuride) and Accuride Canada Inc. entered into a fourth amended and restated credit agreement with a syndicate of banks jointly arranged by Citigroup Global Markets Inc. and Lehman Brothers Inc., with UBS Securities LLC acting as documentation agent. The credit agreement provided for certain senior secured credit facilities including (1) a new seven-year term credit facility in an aggregate principal amount of $550 million, and (2) a five-year revolving credit facility in an aggregate principal amount of $125 million (comprised of a new $95 million US revolving credit facility and the continuation of a $30 million Canadian revolving credit facility). The proceeds of the credit facilities were used to refinance Accuride’s existing senior credit facilities, as well as those of Transportation Technologies Industries, Inc. (TTI), a commercial vehicle component manufacturer acquired by Accuride concurrently with the closing of the credit agreement, as well as to discharge certain outstanding senior subordinated notes issued by each of Accuride and TTI.
Accuride was represented by a team from Latham & Watkins LLP in Los Angeles that included Glen Collyer, Mayuko Abe and Christopher Norton. The company was represented in Canada by Laurie Barrett, Tim Meadowcroft and Shelley Munro of Osler, Hoskin & Harcourt LLP.
The lenders were represented by a team from Simpson Thacher & Bartlett LLP in New York that included Mary Touchstone, Malia Herndon and Frederick Lee.