Electric vehicle company Bird Global entered into a financial restructuring process. Bird’s first and second lien lenders also entered into a restructuring support agreement with the company, with MidCap Financial providing $25 million in new debtor-in-possession financing.
Avaya Holdings, a provider of solutions to enhance and simplify communications and collaboration, entered into a restructuring support agreement with overwhelming support of more than 90% of the company’s secured lenders.
Aterian signed an asset-backed credit facility with MidCap Financial Trust. The credit facility has a three-year term and gives Aterian access to up to $50 million in total credit.
Riverbed Technology entered into a restructuring support agreement regarding the terms of a financial restructuring. Upon consummation of the recapitalization, a group of institutional investors led by Apollo Global Management will become the majority owners of the company.
MidCap Financial, in alliance with Apollo Global Management, started a non-exclusive strategic capital relationship with Lafayette Square. In their first joint transaction, Lafayette Square and MidCap Financial Trust agreed to provide a senior secured facility to Zero Waste Recycling.
Vikram Mahidhar joined Apollo Global Management as an operating partner to lead private equity data and digital transformation efforts within Apollo’s Portfolio Performance Solutions (APPS) platform.
Apollo Global Management and its entities, clients and funds managed by its affiliates committed to invest up to $500 million in senior secured credit facilities originated by Victory Park Capital, a global investment firm with a track record in asset-backed credit origination.
Craig Farr joined Apollo Global Management as a senior partner to lead the firm’s capital solutions activities. In this newly created role, Farr will spearhead Apollo’s centralized origination, structuring and distribution platform.
Apollo Global Management entered into an agreement to acquire Verizon Media from Verizon for $5 billion. Verizon will retain a 10% stake in the company, which will be known as Yahoo at close of the transaction and continue to be led by Guru Gowrappan as CEO.
Global Eagle Entertainment completed the sale of substantially all of its assets to a group consisting of its first lien investors. Global Eagle’s new owners include certain funds managed by affiliates of Apollo Global Management, among others.