David’s Bridal Declares Bankruptcy, Receives $60MM DIP Financing

David’s Bridal has implemented its previously announced restructuring support agreement by voluntarily filing for reorganization under Chapter 11 of the United States Bankruptcy Code in the District of Delaware.

Oaktree Capital to Provide DIP Financing to David’s Bridal

Reuters reported David’s Bridal is close finalizing a deal for a debtor-in-possession financing package with Oaktree Capital and other first-lien debt holders.

Levin to Succeed Kirchheimer as Oaktree CFO

David Kirchheimer will retire as Oaktree’ Capital Group’s CFO and member of its board, effective March 31, 2017. Daniel Levin, managing director, will assume the role of CFO effective April 1, 2017.

Karsh to Assume Head of Credit Strategies Role at Oaktree

Bruce Karsh will assume the position of head of Credit Strategies at Oaktree Capital. Current head Scott Graves is leaving the firm after 15 years.

CIT Provides $35MM Financing for Bascom Group and Oaktree

CIT Real Estate provided a $35 million senior secured mortgage loan to a special purpose entity controlled by The Bascom Group and funds managed by Oaktree Capital Management.

Molycorp Gets Court Approval for ‘Improved’ DIP Facility

Molycorp said it received bankruptcy court approval for an improved DIP DIP financing package of a net $130 million provided by Oaktree Capital Management.

BofA, Others Support Eagle Bulk Restructuring Plan

The WSJ said Eagle Bulk shipping received court approval for its bankruptcy exit plan. The Journal said the lender group, consisting of Bank of America and Oaktree Capital, gave unanimous support.

WSJ: KPS Capital Rivals Bid for Furniture Brands Assets

The WSJ reported that Furniture Brands may be in the middle of a “bidding war” due to the emergence of private equity firm KPS Capital Partners as an interested party.

FinalCut: Hedge Funds Have $74B as Europe Fire Sale Delayed

ABF Journal illustrator Jerry Gonzalez shows that hedge funds and private equity firms have amassed $74 billion to invest in distressed debt in anticipation that Europe’s sovereign-debt crisis will push banks into the biggest fire sale in history. The problem is, few are selling.