Libbey received court approval of the first day motions of its voluntary Chapter 11 petitions, including approval of an initial $30 million of proposed DIP financing for which Cortland Capital Market Services is serving as administrative agent and collateral agent, according to an 8K.
Alvarez & Marsal is serving as restructuring advisor to Libbey, which filed voluntary petitions under Chapter 11 of the Bankruptcy Code. In addition Libbey’s existing lenders agreed to provide up to $160 million in DIP financing.
Suzzanne Uhland joined Latham & Watkins’ New York office as a partner in the restructuring and special situations practice within the finance department. Uhland joined Latham from O’Melveny & Myers.
FTI Consulting served as restructuring advisor for Save A Lot, a U.S. discount grocer, which successfully completed the recapitalization of its business and delverged its balance sheet. In addition, Alix Partners served as restructuring advisor to Save A Lot’s term loan lenders.
Justin T. Stolte has returned to Latham & Watksins’ Houston office as a partner in the Corporate Department and member of the Mergers & Acquisitions Practice.
Latham & Watkins has added Justin Hamill as a partner in the NY office corporate department and member of the mergers & acquisitions, private equity, and entertainment, sports & media practices.
David Beller joined law firm Latham & Watkins as a partner in the Corporate Department and member of the Mergers & Acquisitions and Private Equity Practices in the New York office.
SIG Combibloc secured a $1.1 billion loan from a syndicate of banks led by Barclays Bank serving as administrative agent on the transaction.
Law firm Latham & Watkins noted in a report that the adoption of U.S.-style covenant-lite terms in Europe leveraged deals continues apace.