Deutsche Bank acted as administrative agent and lender on the refinancing of the fifth amendment to its current credit agreement with Playa Hotels & Resorts.
Neiman Marcus emerged from voluntary Chapter 11 protection. The company’s new owners, including PIMCO, Davidson Kempner Capital Management and Sixth Street, are funding a $750 million exit financing package.
Davidson Kempner Capital Management provided $204 million of debt financing to Playa Hotels & Resorts. In addition, according to an 8K, Deutsche Bank is serving as administrative agent on the fourth amendment to Playa Hotels & Resorts’ credit agreement.
J.Crew Group received approval for all first day motions related to its Chapter 11 restructuring, including access to the $400 million debtor-in-possession financing facility provided by Anchorage Capital Group, GSO Capital Partners and Davidson Kempner Capital Management.
Acosta has successfully completed its financial reorganization and recapitalization and emerged from Chapter 11 less than a month after filing.
ABF Journal illustrator Jerry Gonzalez shows that hedge funds and private equity firms have amassed $74 billion to invest in distressed debt in anticipation that Europe’s sovereign-debt crisis will push banks into the biggest fire sale in history. The problem is, few are selling.