PJT Partners served as investment banker for Envision Healthcare on $2.6 billion in first and second lien financing facilities, while Alvarez & Marsal served as financial advisor and Kirkland and Ellis served as legal advisor.
Hilton Grand Vacations refinanced and increased the capacity under its existing revolving facility from $800 million to $1 billion. Bank of America will remain the administrative agent for the new revolving credit facility.
Washington Prime Group emerged from the Chapter 11 process, signifying the completion of the company’s financial restructuring and the implementation of its plan of reorganization. The company emerged from bankruptcy with its debt reduced by nearly $1 billion.
Carnival completed the syndication of a $2.3 billion first-priority senior secured term loan facility. JPMorgan Chase Bank acted as sole global coordinator for the marketing of the term loan facility.
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.
Intelsat achieved the support of key creditor groups on the terms of a financial restructuring. The company also filed an amended plan of reorganization in its Chapter 11 proceedings. The amended plan has the support of holders of approximately $11 billion, or nearly 75%, of the company’s funded debt.
Hyatt Hotels entered into a definitive agreement to acquire Apple Leisure Group from affiliates of KKR and KSL Capital Partners for $2.7 billion in cash. Hyatt secured a financing commitment from J.P. Morgan to help support the acquisition.
Washington Prime Group filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. Washington Prime Group also secured $100 million in new money debtor-in-possession financing.
AlixPartners is serving as restructuring advisor to menswear retailer Tailored Brands in the company’s plan of reorganization under its Chapter 11 filing. Tailored Brands expects to emerge from Chapter 11 protection by the end of November.
Centric Brands emerged from voluntary Chapter 11 proceedings. Sound Point Capital Management provided exit financing to the company, while Ropes & Gray, PJT Partners and Alvarez & Marsal served as legal, financial and restructuring advisors, respectively.