TriplePoint Capital Provides $5.5MM DIP for Tintri

A year after launching its IPO, Tintri filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. The company will continue to operate its businesses as a debtor-in-possession under the jurisdiction of the bankruptcy court.

June Commercial Chapter 11 Filings Decrease 49% Y/Y

The American Bankruptcy Institute reported a total of 306 commercial Chapter 11 bankruptcies for the month of June 2018, a 49% decrease from the 601 commercial Chapter 11 filings in June 2017.

JPMorgan Agents $1.2B Prepetition Facility for Harvey Gulf

In the wake of Harvey Gulf’s Chapter 11 filing, JPMorgan Chase acted as administrative agent on a $1.2 billion prepetition secured credit facility to support Harvey’s restructuring plan.

Authentic Brands Buys Nine West Assets at Auction for $340MM

The Wall Street Journal reported Authentic Brands Group won a bidding war with shoe retailer DSW for the intellectual property of Nine West, offering up a bid of $340 million.

Beal Bank to Provide $20MM DIP Financing to NMG

New MACH Gen (NMG) and certain of its subsidiaries entered into a restructuring support agreement with its first lien lender and its equity owner.

Citibank Agents Up to $450MM DIP for iHeartMedia

The U.S. Bankruptcy Court for the Southern District of Texas approved up to $450 million in DIP financing for iHeartMedia, which filed for Chapter 11 protection in March.

ABI: May Commercial Bankruptcies Decrease 23% Y/Y

Total U.S. commercial bankruptcy filings decreased 23% in May 2018 compared to May of last year, according to data provided by Epiq Systems to the American Bankruptcy Institute.

JPMorgan Agents $1B Exit Financing for EV Energy/Harvest Oil

EV Energy Partners emerged from Chapter 11 as a new corporation under the name Harvest Oil & Gas. Through the restructuring, Harvest eliminated approximately $355 million of debt and accrued interest from its balance sheet and significantly enhanced its financial flexibility.

Spangler Pays $18.83MM for Necco Wafers

Time reported that Spangler, a family-owned candy company that makes Dum Dum lollipops, outbid three rivals to purchase the bankrupt New England Confectionary Company, known for Necco wafers and Sweetheart Valentine candies.

Project Build Provides $14.2MM DIP for Elements Behavioral Health

Elements Behavioral Health will execute an asset purchase with a group of its first lien lenders. To facilitate the sale, the company has filed Chapter 11 in the District of Delaware.