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.
Alvarez & Marsal is serving as restructuring advisor to Chesapeake Energy, which voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas.
Extraction Oil & Gas voluntarily filed for petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. In connection with the filing, Wells Fargo Bank underwrote a $125 million debtor-in-possession financing facility.
AlixPartners is acting as restructuring advisor to Jason Industries, which entered into a restructuring support agreement with certain of its senior secured lenders. Jason Industries also will pursue protection under Chapter 11 of the U.S. Bankruptcy Code.
Citibank is serving as administrative agent and Wells Fargo is serving as syndication agent for an amendment to Hersha Hospitality Trust’s existing bank credit facility, which provides for an additional $100 million on the company’s $250 million senior revolving line of credit.
Koch Real Estate Investments will provide $206.4 million in senior secured financing to Ladder Capital as part of a strategic financing arrangement. Ladder Capital also completed a private CLO with Goldman Sachs Bank, which generated $310.2 million of gross proceeds to Ladder.
Alvarez & Marsal is acting as restructuring advisor and Jeffrey S. Stein of Stein Advisors is acting as chief restructuring officer for Whiting Petroleum, which entered into a restructuring support agreement and filed for a consensual Chapter 11 plan of reorganization.
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.
Spartan Stores and Nash Finch announced completion of their merger. J.P. Morgan Securities served as financial advisor for Nash Finch, and Moelis & Company acted as financial advisor for Spartan Stores.