Evercore Group Archives

Audacy Files for Chapter 11 Bankruptcy, Secures $57MM in DIP Financing

Radio content company Audacy entered into a restructuring support agreement to reduce funded debt by $1.6 billion. In connection with the restructuring, Audacy filed for Chapter 11 bankruptcy and secured commitments from its existing lenders for $57 million in debtor-in-possession financing.

Air Methods Emerges from Chapter 11 Bankruptcy, Reduces Debt by $1.7B

Air Methods, a provider of air medical services in the U.S., emerged from Chapter 11 bankruptcy. As a result of the restructuring process, Air Methods reduced its total debt by approximately $1.7 billion.

Air Methods Receives Court Approval for Financial Restructuring Plan

Air Methods, an air medical service provider in the U.S., announced the U.S. Bankruptcy Court for the Southern District of Texas confirmed the company’s prepackaged plan of reorganization. Air Methods expects to emerge from Chapter 11 bankruptcy before the end of the year.

Lucky Bucks Completes Restructuring, Emerges from Chapter 11

Lucky Bucks, a Class B coin operated amusement machine route operator in Georgia, announced the completion of its restructuring process and successful emergence from Chapter 11 bankruptcy.

Goldman Sachs Asset Management Makes Investment in World Insurance Associates

World Insurance Associates, an insurance brokerage, and funds advised by Goldman Sachs Asset Management, through its private equity and hybrid capital teams, entered into a definitive agreement through which Goldman Sachs will make “a major investment” in World Insurance Associates.

Monster Enters into Asset Purchase Agreement for Bang Energy

Monster Beverage and Vital Pharmaceuticals (which, together with certain of its debtor affiliates, does business as Bang Energy and VPX Sports) entered into an asset purchase agreement under which a subsidiary of Monster would acquire substantially all of Bang Energy’s assets, including a beverage production facility located in Phoenix.

Avaya Holdings Enters into Restructuring Support Agreement with Secured Lenders

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.

Altera Infrastructure Executes RSA with Secured Lenders, Enters Chapter 11

Altera Infrastructure and certain of its subsidiaries executed a restructuring support agreement (RSA) with approximately 71% of Altera’s funded debt obligations, which includes Brookfield and a super-majority of its bank lenders.

Washington Prime Group Completes Financial Restructuring, Reduces Debt by Nearly $1B

Washington Prime Group emerged from the Chapter 11 process, signifying the completion of the company’s financial restructuring and the implementation of its plan of reorganization. The company emerged from bankruptcy with its debt reduced by nearly $1 billion.

Washington Prime Group Enters Chapter 11, Secures $100MM in DIP Financing

Washington Prime Group filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. Washington Prime Group also secured $100 million in new money debtor-in-possession financing.

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