Core Scientific, a blockchain computing data center provider, will enter into a restructuring support agreement with an ad hoc noteholder group, which agreed to provide commitments for a debtor-in-possession facility of up to $56 million.
Park Hotels & Resorts amended and restated its existing $901 million revolving credit facility to increase total capacity to $950 million, extend the maturity from December 2023 to December 2026, and release all collateral securing the credit.
Phoenix Services, a provider of mission critical services to global steel producing companies, has taken the next step in its comprehensive restructuring strategy by filing voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
Lumileds Holding, a global provider of innovative lighting solutions, entered into a restructuring support agreement with its lenders.
Envision Healthcare closed the first phase of a refinancing transaction with a majority of its first lien term loan lenders and, separately, consummated a refinancing transaction with its revolving lenders. The organization’s investment banker is PJT Partners.
Revlon and certain of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York.
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.