Paul Hastings Advises Flexi-Van Leasing on $485MM Refinancing

Global law firm Paul Hastings advised Flexi-Van Leasing as issuer in the private offering of $300 million aggregate principal amount of 10.00% senior secured second lien notes due 2023 and as borrower in a $185 million asset-based revolving facility.

Flexi-Van intends to use the proceeds of the offering, together with borrowings under the revolving credit facility, to redeem its existing 7.875% senior notes, repay all outstanding indebtedness under its existing revolving credit facility and pay related fees and expenses.

Flexi-Van is one of the largest chassis lessors in North America with a current fleet of more than 130,000 units.

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Terry Mulreany
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