JP Morgan is serving as administrative agent on a $350 million senior credit facility in connection with the merger of Eros International and STX Entertainment.
Goldman Sachs Bank, Deutsche Bank, Barclays Bank, Morgan Stanley Senior Funding and Credit Suisse provided a $460 million debtor-in-possession facility to Frontier Communications, according to an 8K filed with the SEC.
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.
Alvarez & Marsal is acting as restructuring advisor and Jeffrey S. Stein of Stein Advisors is acting as chief restructuring officer for Whiting Petroleum, which commenced voluntary Chapter 11 bankruptcy proceedings.
Ares Management, Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking reached a strategic agreement to collaborate on future business opportunities.
Toys “R” Us filed a motion seeking bankruptcy court approval to begin the process of conducting an orderly wind-down of its U.S. business and liquidation of inventory in all 735 of the company’s U.S. stores.
In the face of continuing bank regulation, alternative lending companies are launching to fill in the gaps. ABF Journal contributor Hugh Larratt-Smith examines the types of loans these lenders are providing and shows how ABL lenders can benefit by teaming up with these new players.
Reuters reported that discount shoe retailer Payless is working with restructuring attorneys to deal with approximately $665 million in debt.
Paula Liu joined the Kirkland & Ellis International’s Shanghai office as a partner in the Corporate Practice Group.
Jonathan Birks joined Kirkland & Ellis International’s London office as a partner in the Debt Finance Practice group. Birks focuses his practice on UK and pan-European real estate finance transactions.