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.
Senseonics entered into a new senior secured term loan agreement with certain funds managed by existing stakeholder Highbridge Capital Management. The agreement will provide up to $20 million in near-term liquidity.
Bristow Group has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. Its lenders provided a commitment for $75 million in debtor-in-possession financing that would be available upon Court approval.
Highbridge Capital Management, Corre Partners Management, Whitebox Credit Partners and WFF Cayman II closed a new $100 million facility for A.M Castle. The new facility was used to repay an existing revolving facility with Wells Fargo.
The Wall Street Journal reported that Miller Energy filed for bankruptcy with a plan to hand control over to an affiliate of Apollo Global Management and Highbridge Capital Management, which are providing $20 million of DIP financing.