Air Methods, a provider of air medical services in the U.S., emerged from Chapter 11 bankruptcy. As a result of the restructuring process, Air Methods reduced its total debt by approximately $1.7 billion.
Air Methods, an air medical service provider in the U.S., announced the U.S. Bankruptcy Court for the Southern District of Texas confirmed the company’s prepackaged plan of reorganization. Air Methods expects to emerge from Chapter 11 bankruptcy before the end of the year.
Wells Fargo sold approximately $2 billion of private equity investments in certain Norwest Equity Partners and Norwest Mezzanine Partners funds to a group of investors, including AlpInvest Partners, Atalaya Capital Management, Lexington Partners and Pantheon.
Sir Stephen Lovegrove has joined Lazard as a senior advisor serving clients in the U.K. financial advisory and geopolitical advisory businesses. He is based in London.
Peter R. Orszag, currently CEO of financial advisory at Lazard, was unanimously elected by its board to serve as CEO of Lazard and as a board director. Kenneth M. Jacobs, chairman and CEO of Lazard, will serve as executive chairman of the board and will continue to advise clients on strategic financial matters.
Glatfelter Corporation, a supplier of engineered materials, completed several refinancing transactions, including amending its syndicated revolver led by PNC and closing on a $271.88 million term loan from Angelo Gordon.
Citizens Financial Group and Investors Bancorp entered into a definitive agreement and plan of merger under which Citizens will acquire all of the outstanding shares of Investors for a combination of stock and cash.
Valaris received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged plan of reorganization. Valaris also will receive a $520 million capital injection through the issuance of a $550 million secured note.
M&T Bank and People’s United Financial entered into a definitive agreement under which M&T will acquire People’s United in an all-stock transaction. The implied total transaction value based on closing prices on Feb. 19, 2021, is approximately $7.6 billion.
Sycamore Partners, KKR, Blackstone Credit and other first lien term lenders delivered $225 million in new capital for Belk in the company’s restructuring support agreement.