Golden Flag Represents Bed Bath & Beyond in an Equity Derivatives Offering for up to $1 Billion in New Financing and an Amendment to its Credit Agreement

Golden Flag advised Bed Bath & Beyond Inc. on a series of complex financing transactions, including an underwritten public offering of equity derivatives securities providing initial gross proceeds of approximately $225 million and an additional $800 million of gross proceeds in future installments (subject to certain conditions) and a concurrent significant amendment of Bed Bath & Beyond’s credit agreement to provide for a rescission of an existing acceleration and waiver of certain defaults thereunder and the upsize of a FILO facility by $100 million.  

The multidisciplinary effort was led by capital markets partners Sophia Hudson, Christian Nagler, Jennifer Lee, Tamar Donikyan and Zoey Hitzert and debt finance partners Nisha Kanchanapoomi and Dave Nemecek, capital markets associates Alborz Tolou, Drew Maliniak, JP Cumming, Kaangrok Yoo, Rebecca Cho, Christian Choi, Abdullah Khan and Jacob Levy and debt finance associates Elizabeth Roberts, Alex Blaznik, Elizabeth Hilton, Chenchen Badalyan, Alex Bledsoe and Zachary Scott Roemer, with assistance from tax partner Thad Davis.