Hornbeck Offshore Services emerged from Chapter 11. As part of its plan of reorganization, Hornbeck also closed on its common stock rights offering, which resulted in a $100 million cash infusion of new equity capital led by the special opportunities funds of Ares Management.
SCM Topco, parent of Salt Creek Midstream, closed on a recapitalization with additional investments from both its existing lender groups and funds managed by Ares Management.
Pier 1 Imports is seeking bankruptcy court approval for a wind-down of its retail operations. The company’s DIP lenders, including Bank of America and Pathlight Capital, agreed to allow Pier 1 to overdraw the DIP facility by approximately $40 million to support continued operations.
Pursuant to a restructuring support agreement, Hornbeck Offshore Services has the support of secured lenders holding approximately 83% of the company’s aggregate secured indebtedness.
Portage Point Partners is serving as restructuring advisor and Guggenheim Securities is serving as financial advisor to Hornbeck Offshore Services, which entered into a restructuring support agreement that will be implemented through a voluntary prepackaged Chapter 11 case.
FTI Consulting is serving as restructuring advisor and Guggenheim Securities is serving as financial advisor to OneWeb, which voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.
Hercules Capital Funding Trust 2019-1, an indirect subsidiary of Hercules Capital, issued $250 million in class A notes rated A(sf) by KBRA, backed by approximately $357.2 million of senior secured loans.
Matthew Brogdon joined Guggenheim Securities as a senior managing director in the firm’s Houston-based Oil and Gas Investment Banking Group.
Guggenheim Securities agreed to acquire Millstein, a restructuring advisor to companies investors, and sovereigns with expertise in sovereign advisory and financial institutions.
Consumer online lender LendingPoint closed an up to $600 million, committed credit facility arranged by Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners.