Leslie’s secures $90 million new-money DIP financing under restructuring deal
LESL•Leslie’s entered a restructuring support agreement with existing lenders that includes $90 million in new-money debtor-in-possession financing. The package also includes a $225 million DIP asset-based facility, a $60 million equity financing and a plan to reduce funded debt by about $685 million, with emergence targeted for early 2027.
1. Restructuring financing
Leslie’s entered a restructuring support agreement with existing lenders tied to a prearranged Chapter 11 process. The deal includes $90 million in new-money DIP financing and a fully committed $225 million DIP asset-based facility from existing ABL lenders, subject to court approval. It also contemplates a $60 million equity financing backstopped by certain RSA parties and targets a roughly $685 million, or 90%, reduction in funded debt, with emergence targeted for early 2027.
