TPC Group Commences Chapter 11 to Deleverage and Recapitalize
TPC Group, a provider of products to chemical and petroleum-based companies, voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware.
TPC Group, a provider of products to chemical and petroleum-based companies, voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware.
Paul Hastings added a high-profile group of laterals specializing in projects and project finance in energy transition and infrastructure from Shearman & Sterling. The partners are Robert Freedman, Alexandro M. Padres and Gregory Tan.
Cypress Environmental Partners filed for Chapter 11 bankruptcy protection and reached a restructuring support agreement with its priority senior secured lender, an affiliate of Argonaut Private Equity, that is expected to clear approximately $58 million worth of debt.
Paul Hastings, a global law firm advising financial institutions, asset managers and corporations, strengthened its position among elite Wall Street firms with the addition of a high-profile team of 18 financial restructuring partners at its New York and Los Angeles offices.
MCAP Acquisition Corporation, a special purpose acquisition company sponsored by an affiliate of Monroe Capital, completed its business combination with AdTheorent Holding Company, a programmatic digital advertising company.
Rimini Street entered into a definitive agreement for a $90 million senior secured credit facility with Capital One, which is acting as sole lead arranger and bookrunner. The facility is structured as a five-year term loan.
As the healthcare sector continues to be an attractive arena for lenders, it’s important to remember that special care must be taken to close deals efficiently in this space. Stacy Hopkins of Paul Hastings urges lenders to perform specialized due diligence early in the loan lifecycle to ensure healthcare lending deals get done.
L Catterton entered into a definitive agreement to acquire a controlling interest in West Marine, an omnichannel platform in the marine aftermarket, from Monomoy Capital Partners. Barclays Bank, Golub Capital and Nomura provided committed debt financing to support the transaction.
Twin Brook Capital Partners provided debt financing for Chicago-based private equity firm May River Capital’s acquisition of PaperTech.
MACCO Restructuring Group is serving as financial advisor to crypto lender CRED in the commencement of its Chapter 11 case in the United States Bankruptcy Court for the District of Delaware. CRED also added Grant Lyon to serve as chair of the restructuring committee.