Tag Archives: Akin Gump Strauss Hauer & Feld

Glass Mountain Enters Restructuring Support Agreement

Glass Mountain Pipeline Holdings, with the support of its equity sponsor, GEPIF Glass Mountain Pipeline, and lenders holding 66.97% of the company’s revolving and term loans, entered into a restructuring support agreement that provides for the elimination of more than $230 million in debt.

Tree Line and Bridge Bank Support Bessemer Investors’ Acquisition of Stake in Legacy Restoration

Bessemer Investors, a New York-based investment firm, acquired a stake in Legacy Restoration, a provider of exterior restoration and remodeling services. Tree Line Capital Partners and Bridge Bank, a division of Western Alliance Bank, provided debt financing for the transaction.

Valaris Receives $520MM Capital Injection, Court Approval of Plan of Reorganization

Valaris received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged plan of reorganization. Valaris also will receive a $520 million capital injection through the issuance of a $550 million secured note.

Morgan Stanley Leads Debt Financing to Support E.W. Scripps’ Buy of ION Media

Morgan Stanley Senior Funding led debt financing to support the close of E.W. Scripps Company’s acquisition of ION Media Networks. In addition, BofA Securities, Truist Securities, J.P. Morgan and Wells Fargo acted as joint book runners on the debt financing.

AlixPartners Serves as Restructuring Advisor in Pacific Drilling’s Chapter 11

Pacific Drilling and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11. Greenhill & Co. is acting as financial advisor, Latham & Watkins and Jones Walker are acting as legal counsel and AlixPartners is acting as restructuring advisor.