Tag Archives: Simpson Thacher & Bartlett

Harvest Capital Credit and Portman Ridge Finance to Merge

Harvest Capital Credit (HCAP) and Portman Ridge Finance (PTMN) entered into a definitive agreement under which HCAP will merge with and into PTMN, a business development company managed by Sierra Crest Investment Management.

Huntington Bancshares and TCF Financial to Merge

Huntington Bancshares, the parent company of Huntington National Bank, and TCF Financial, the parent company of TCF National Bank, signed an agreement under which the companies will combine in an all-stock merger with a total market value of approximately $22 billion.

A&M Serves as Restructuring Advisor to Superior Energy Services in Chapter 11

Alvarez & Marsal served as restructuring advisor to Superior Energy Services in the company’s financial restructuring and commencement of its Chapter 11 case. Superior serves drilling, completion and production-related needs of oil and gas companies.

TNT Emerges from Chapter 11 as a Private Company with New $225MM Term Loan

TNT Crane & Rigging and certain of its affiliates emerged from Chapter 11 bankruptcy protection. The company emerged from its restructuring as a private company with a new ownership group, recapitalized with a new $225 million term loan.

Pyxus Completes Restructuring, Glendon and Monarch Lead Investment in Exit Term Loan

Pyxus completed its financial restructuring, which includes a $213 million exit term loan and a $75 million exit asset based revolving facility. Glendon Capital Management and Monarch Alternative Capital are leading the investment in Pyxus’ exit term loan facility.

JPMorgan Chase Agents $675MM Revolver as Part of Noble Corporation’s Restructuring

Noble Corporation entered into a restructuring support agreement with two ad hoc groups of the largest holders of the company’s outstanding bond debt. In addition, JPMorgan Chase will serve as administrative agent on a $675 million secured revolving credit facility for Noble Corporation.

Garrison Capital Merges with Portman Ridge Finance

Garrison Capital and Portman Ridge Finance entered into a definitive agreement under which Garrison Capital will merge with and into Portman Ridge Finance, which is a business development company managed by Sierra Crest Investment Management.