PJT Partners Archives

Jefferies, Macquarie and Antares Arrange $435MM in Debt Financing for Crisis Prevention Institute

Crisis Prevention Institute (CPI), a provider of de-escalation and crisis prevention training programs for workplaces, completed a $435 million debt financing. Jefferies Finance, Macquarie Capital and Antares Capital acted as joint lead arrangers for the financing.

Carnival Reprices Term Loans as Part of Capital Structure Simplification

Cruise company Carnival received commitments from lenders to reprice its first-priority senior secured term loan facility maturing in 2028 and its first-priority senior secured term loan facility maturing in 2027.

April 22, 2024 Carnival | PJT Partners Phil Neuffer

Goldman Sachs Arranges $1.5B Term Loan as Part of Exit Financing for Endo

Endo Finance Holdings, a wholly-owned subsidiary of Endo, Inc., priced its seven-year, $1.5 billion senior secured term loan. Goldman Sachs Bank USA served as left lead arranger on the term loan.

Audacy Files for Chapter 11 Bankruptcy, Secures $57MM in DIP Financing

Radio content company Audacy entered into a restructuring support agreement to reduce funded debt by $1.6 billion. In connection with the restructuring, Audacy filed for Chapter 11 bankruptcy and secured commitments from its existing lenders for $57 million in debtor-in-possession financing.

WeWork Enters into Restructuring Support Agreement, Files for Chapter 11 Bankruptcy

Flexible workspace provider WeWork commenced a comprehensive reorganization to strengthen its capital structure and financial performance. As part of the reorganization plan, WeWork and certain of its entities filed for protection under Chapter 11 of the U.S. Bankruptcy Code.

Rithm Capital Acquires Sculptor Capital Management for Approximately $639MM

Rithm Capital and Sculptor Capital Management entered into a definitive agreement under which Rithm will acquire Sculptor in a transaction valued at approximately $639 million, which includes $11.15 per Class A share of Sculptor.

Incora Files for Chapter 11 Bankruptcy

Incora, a global provider of supply chain management solutions, filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas.

June 2, 2023 Alvarez & Marsal | David Coleal | Incora | Milbank | PJT Partners Ian Koplin

Envision Healthcare Reaches Comprehensive Restructuring Agreement with Lenders

Envision Healthcare filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Envision also entered into a restructuring support agreement with its key stakeholders supported by more than 60% of the company’s approximately $7.7 billion in debt obligations.

Revlon Announces Confirmation of Plan of Reorganization

The U.S. Bankruptcy Court for the Southern District of New York has confirmed Revlon’s plan of reorganization. The plan positions Revlon to emerge from bankruptcy in late April, consistent with the timeline announced at the beginning of the restructuring.

April 5, 2023 Alvarez & Marsal | Debra Perelman | Paul Weiss Rifkind Wharton & Garrison | PJT Partners | Revlon Ian Koplin

Starry Files Voluntary Chapter 11, Backed by RSA with Lenders

Starry Group Holdings and subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware and have entered into a restructuring support agreement with lenders holding the company’s debt.

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