TriMark parent announces agreement with first-lien lenders

By Wendy Van Sickle

Columbus, Ohio, Jan. 7 – TMK Hawk Parent Corp., parent to TriMark USA LLC, and some of its lenders who are holders of its outstanding term loan issued under its first-lien credit agreement have mutually resolved a dispute arising from a September 2020 transaction in which the company raised $120 million in new liquidity by issuing two tranches of new loans that ranked senior to first-lien term debt, according to a news release issued Friday.

The terms of the resolution are subject to closing conditions and include an exchange of all outstanding first-lien term debt on a dollar-for-dollar basis for tranche B loans under the company’s super senior credit agreement.

Tranche A loans outstanding under the company's super senior credit agreement will retain their position in the company's capital structure, senior to the tranche B loans.

The company expects to complete the proposed exchange on or prior to Jan. 31, after which the pending litigation relating to the September 2020 transaction would be dismissed.

TriMark is a South Attleboro, Mass.-based provider of equipment, supplies and design services to the foodservice industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.