Vinson & Elkins Archives

Strategic Materials Files Chapter 11, Secures $23MM in DIP Financing

North American glass recycling company Strategic Materials filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. The company also secured new money commitments of $23 million for a debtor-in-possession financing facility.

MUFG Bank and Natixis CIB Provide $247MM Credit Facility to Altius Renewable Royalties

Altius Renewable Royalties entered into senior secured credit financing agreements in the aggregate amount of $247 million. MUFG Bank and Natixis Corporate & Investment Banking are coordinating lead arrangers, bookrunners, syndication agents and hedge providers with respect to the facilities.

JPMorgan Chase Delivers $75MM Credit Facility to Daktronics

Daktronics closed on a three-year, $75 million senior secured credit facility with JPMorgan Chase. In addition, Daktronics closed a $25 million convertible debt financing agreement with shareholder Alta Fox Capital Management.

Monarch Alternative Capital Provides $500MM Secured Financing to Dhanani Group

Dhanani Group closed financing totaling $500 million. Monarch Alternative Capital and its partners led the five-year secured bank loan facility.

Mizuho Americas Acquires Capstone Partners

Mizuho Americas signed an agreement to acquire Capstone Partners, an independent middle-market placement agent focused on fundraising and advisory services to private equity, credit, real asset and infrastructure investment firms.

Apollo and MidCap Support Bird Rides’ Combination with Switchback II

Bird Rides completed its business combination with Switchback II Corporation. The combined company received $414 million in incremental liquidity, including availability under Bird’s credit facility with Apollo Investment and MidCap Financial Trust.

Sunlight Financial Combines with Apollo-Sponsored Special Purpose Acquisition Company

Sunlight Financial, a technology-enabled point-of-sale financing company, closed its business combination with Spartan Acquisition Corp. II, a publicly-traded special purpose acquisition company sponsored by funds managed by an affiliate of Apollo Global Management.

JPMorgan and Blackstone Provide Financing for Atlas Recapitalization

JPMorgan Chase and Blackstone Credit provided recapitalization through a combination of financing facilities for Atlas Technical Consultants, a provider of professional testing, inspection, engineering, environmental and consulting services.

Ameredev Texas Wins Bid for Lilis’ Assets for $46.6MM in Chapter 11 Auction

Following an auction as part of Lilis Energy’s Chapter 11 process, oil and natural gas company Ameredev Texas will acquire substantially all of Lilis Energy’s assets for a $46.6 million cash payment at closing. Opportune is serving as restructuring advisor to Lilis.

November 9, 2020 Ameredev Texas | Barclays Capital | Lilis Energy | Opportune LLP | Vinson & Elkins Ellie Delany

Veteran Vinson & Elkins Restructuring Partner Relocates to Houston

Vinson & Elkins announced that Paul E. Heath, an accomplished partner in the firm’s Restructuring and Reorganization practice group, has relocated from Dallas to Houston.

September 25, 2020 bankruptcy | Paul E. Heath | Vinson & Elkins Rita Garwood

Tag Archives: Vinson & Elkins