J.Jill obtained the necessary consents from its term loan lenders to implement the previously announced financial restructuring transaction on an out of court basis.
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.
J.Jill entered into a transaction support agreement with lenders holding more than 70% of the company’s term loans on the principal terms of a financial restructuring that would result in a waiver of any past non-compliance with the terms of the company’s credit facilities.
The U.S. Bankruptcy Court for the Southern District of New York confirmed Jason Industries’ plan of reorganization, clearing the way for the company to complete its restructuring. Upon its exit from Chapter 11, Jason will enter into a $30 million ABL credit facility with Wells Fargo.
AlixPartners is serving as restructuring advisor and PJT Partners is serving as financial advisor for Tailored Brands, which entered into a restructuring support agreement with more than 75% of its senior lenders and filed voluntary Chapter 11 petitions.
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.
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.
AgroFresh closed its comprehensive refinancing, including an amendment and extension of its senior secured credit facilities. BMO Capital Markets acted as sole financial advisor and left-lead bookrunner, while Deutsche Bank and ING acted as joint lead arrangers and joint bookrunners.
KPS Capital Partners will acquire substantially all of the assets of Briggs & Stratton, including equity of foreign subsidiaries, for approximately $550 million.
AlixPartners is serving as restructuring advisor to Bruin E&P Partners, which received the support of a majority of its debt creditors for a restructuring transaction that will eliminate more than $840 million of funded debt.