SCM Topco, parent of Salt Creek Midstream, closed on a recapitalization with additional investments from both its existing lender groups and funds managed by Ares Management.
The U.S. Bankruptcy Court for the District of Delaware approved the first day motions related to 24 Hour Fitness’ voluntary Chapter 11 filing, including access to $250 million in debtor-in-possession financing.
The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division approved Neiman Marcus Group to access debtor-in-possession financing, including the immediate availability of $250 million and an additional $150 million as needed after Sept. 4, 2020.
FTI Consulting is acting as restructuring advisor for 24 Hour Fitness, which filed for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. 24 Hour Fitness expects to secure $250 million in debtor-in-possession financing.
Lazard and RPA Advisors are serving as financial advisors to Pyxus International, which filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code and secured commitments for $206.7 million in debtor-in-possession financing.
Bank of America is serving as the administrative agent and lead arranger of a new $3.15 billion asset-based credit agreement for Macy’s. The agreement is part of $4.5 billion in new financing for Macy’s.
The U.S. Bankruptcy Court for the Southern District of Texas authorized JCPenney to access its debtor-in-possession financing, which includes $450 million of new money from its existing first lien lenders.
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.
JCPenney entered into a restructuring support agreement with lenders holding approximately 70% of its first lien debt to reduce the company’s outstanding indebtedness and strengthen its financial position.