Glass Mountain Pipeline Holdings, with the support of its equity sponsor, GEPIF Glass Mountain Pipeline, and lenders holding 66.97% of the company’s revolving and term loans, entered into a restructuring support agreement that provides for the elimination of more than $230 million in debt.
Avantor entered into a definitive agreement to acquire the Masterflex bioprocessing business and related assets of Antylia Scientific, a privately held, portfolio company of investment firms GTCR and Golden Gate Capital.
Cloudera entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice and KKR in an all-cash transaction valued at approximately $5.3 billion. J.P. Morgan, Bank of America and KKR Capital Markets committed to provide debt financing for the transaction.
The U.S. Bankruptcy Court for the Southern District of New York confirmed Garrett Motion’s plan of reorganization, positioning the company to complete the implementation of the plan, which will be led by funds managed by Centerbridge Partners and Oaktree Capital Management.
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.
Owl Rock Capital Group and the Dyal Capital Partners division of Neuberger Berman Group entered into a definitive business combination agreement with Altimar Acquisition Corporation to form Blue Owl Capital, an alternative asset management firm with more than $45 billion in assets under management.
AlixPartners is acting as restructuring advisor to Oasis Petroleum, which recently completed its financial restructuring and emerged from Chapter 11, successfully restructuring its balance sheet and reducing its prepetition debt by $1.8 billion.
Gulfport Energy entered into a restructuring support agreement with more than 95% of its revolving credit facility lenders and certain noteholders. Alvarez & Marsal is serving as restructuring advisor to the company.
Garrett Motion obtained approval of stalking horse bidding protections for affiliates of KPS Capital Partners, including a $63 million termination fee and expense reimbursement that is subject to a limit of $21 million.
AlixPartners is acting as restructuring advisor to Oasis Petroleum, which filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code.