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.

January 8, 2021 Akin Gump Strauss Hauer & Feld | BakerHostetler | Berkshire Hathaway | Black Diamond | BofA Securities | Brooks Pierce | Christopher W. Parker | Cooley | debt financing | Dickinson Wright | E.W. Scripps Company | Ernst & Young Capital Advisors | Evercore | ION Media Networks | J.P. Morgan and Wells Fargo | Kirkland & Ellis | Lisa Knutson | Methuselah Advisors | Morgan Stanley | Morgan Stanley Senior Funding | Skadden Arps Slate Meagher & Flom | Thacher & Bartlett | Truist Securities Phil Neuffer

Atlantic Park and Citibank Provide Combined $400MM in Loans for TEAM

Atlantic Park Capital Fund provided a $250 million senior secured term loan and Citibank provided a $150 million asset-based loan to TEAM, a provider of integrated, digitally-enabled performance solutions, to refinance the company’s existing debt facilities.

December 21, 2020 Amerino Gatti | Atlantic Park Capital Fund | Citibank | Evercore | Team Phil Neuffer

A&M Serves as Restructuring Advisor to Superior Energy Services in Chapter 11

Alvarez & Marsal served as restructuring advisor to Superior Energy Services in the company’s financial restructuring and commencement of its Chapter 11 case. Superior serves drilling, completion and production-related needs of oil and gas companies.

December 7, 2020 Alvarez & Marsal | David Dunlap | Davis Polk & Wardwell | Duveras Partners | Evercore | FTI Consulting | Hunton Andrews Kurth | Johnson Rice & Compamy | Latham & Watkins | Porter Hedges | Simpson Thacher & Bartlett | Superior Energy Ellie Delany

AlixPartners Serves as Restructuring Advisor to Oasis Petroleum in Chapter 11 Emergence

AlixPartners is acting as restructuring advisor to Oasis Petroleum, which recently completed its financial restructuring and emerged from Chapter 11, successfully restructuring its balance sheet and reducing its prepetition debt by $1.8 billion.

November 24, 2020 AlixPartners | Douglas E. Brooks | Evercore | Holt & Co. | Kirkland & Ellis | Oasis Petroleum | Paul Weiss Rifkind Wharton & Garrison | Perella Weinberg Partners | Pickering | Porter Hedges | Tudor Ellie Delany

PNC Agrees to Acquire BBVA USA for $11.6B

The PNC Financial Services Group and the Spanish financial group, Banco Bilbao Vizcaya Argentaria, signed a definitive agreement for PNC to acquire BBVA USA Bancshares, including its U.S. banking subsidiary, BBVA USA, for a purchase price of $11.6 billion.

November 16, 2020 Banco Bilbao Vizcaya Argentaria | Bank of America | BBVA USA | BBVA USA Bancshares | Carlos Torres Vila | Citi | Evercore | J.P. Morgan Securities | PNC Financial Institutions Advisory | PNC Financial Services Group | Sullivan & Cromwell | Wachtell Lipton Rosen & Katz | William S. Demchak Ellie Delany

AlixPartners Advises Oasis Petroleum on Chapter 11, Restructuring Process

AlixPartners is acting as restructuring advisor to Oasis Petroleum, which filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code.

September 30, 2020 AlixPartners | Evercore | Kirkland & Ellis | Oasis Petroleum | Paul Weiss Rikind Wharton & Garrison | Perella Weinberg Partners | Porter Hedges | Thomas B. Nusz | Tudor Pickering Holt & Co. Phil Neuffer

Bankruptcy Court Approves EP Energy’s Amended Restructuring Plan

The United States Bankruptcy Court for the Southern District of Texas confirmed EP Energy’s amended plan of reorganization. FTI Consulting is serving as restructuring advisor and Evercore is serving as financial advisor to EP Energy.

August 31, 2020 EP Energy | Evercore | FTI Consulting | Russell Parker | Weil Gotshal & Manges Phil Neuffer

JPMorgan Chase Agents $675MM Revolver as Part of Noble Corporation’s Restructuring

Noble Corporation entered into a restructuring support agreement with two ad hoc groups of the largest holders of the company’s outstanding bond debt. In addition, JPMorgan Chase will serve as administrative agent on a $675 million secured revolving credit facility for Noble Corporation.

August 3, 2020 Akin Gump | AlixPartners | Ducera Partners | EPIQ Restructuring Services | Evercore | Houlihan Lokey Capital | JPMorgan Chase Bank | Kramer Levin Naftalis & Frankel | Milbank | Noble Corporation | PJT Partners | Porter Hedges | Robert Eifler | Simpson Thacher & Bartlett | Skadden Arps Slate Meagher & Flom Phil Neuffer

Alvarez & Marsal Advises Denbury Resources on Restructuring

Alvarez & Marsal is serving as restructuring advisor, Evercore is acting as financial advisor and Kirkland & Ellis is acting as legal counsel to Denbury Resources, which entered into a restructuring support agreement with funded debtholders.

July 30, 2020 Alvarez & Marsal | Denbury Resources | Evercore | Kirkland & Ellis Phil Neuffer

Enova Buys OnDeck for $90MM

Enova International entered into a definitive agreement to acquire all outstanding shares of OnDeck in a cash and stock transaction valued at approximately $90 million.

July 29, 2020 David Fisher | Enova | Evercore | Jefferies | Kirkland & Ellis | Noah Breslow | OnDeck | Vedder Price Phil Neuffer