Plains All American Pipeline and Plains GP Holdings renewed and extended its two credit facilities, which have a combined valued of $2.7 billion. Bank of America led the funding for the facilities as administrative agent.
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.
Nuverra Environmental Solutions emerged from bankruptcy protection with more than $70 million in new financing provided by ACF Finco I, an entity managed by Ares Management, Ascribe Capital, and Gates Capital Management.
Shearman & Sterling strengthened its financial restructuring & insolvency practice with the addition of Joel Moss, who joins the firm as a partner in the New York office.
Shearman & Sterling strengthened its M&A and corporate practices—including public and private M&A, private equity, capital markets and corporate governance with the addition of Rob Masella.
Shearman & Sterling represented Citigroup Global Markets and J.P. Morgan Securities as joint lead arrangers and joint book managers in connection with a $10 billion credit facility for Johnson & Johnson.
Paul Hastings announced Andrew Tenzer joined the firm’s Restructuring practice as a partner in the New York office. Tenzer joins from Shearman & Sterling, where he was a partner.
Shearman & Sterling announced it won an M&A Advisor Turnaround Award in the Distressed M&A Deal of the Year (over $100 million to $1 billion) category.