Weil Gotshal & Manges Archives

Oaktree Delivers $200MM Term Loan to Ashford Hospitality Trust

Oaktree Capital Management provided a $200 million senior secured term loan to Ashford Hospitality Trust. The term loan can be upsized by $150 million to an aggregate amount of $350 million.

Apollo and Hudson Acquire Cardtronics in $2.3B Transaction

ATM owner and operator Cardtronics entered into a definitive agreement with funds managed by affiliates of Apollo Global Management and Hudson Executive Capital to be acquired for $35 per share in cash.

AlixPartners Serves as Restructuring Advisor in UTEX’s Chapter 11 Emergence

AlixPartners served as restructuring advisor to UTEX Industries in its emergence from Chapter 11. The financial restructuring reduced UTEX’s funded debt by approximately $700 million and provided $42.5 million in new financing.

24 Hour Fitness Enters Restructuring Agreement with Lenders, Will Reduce Debt by $1.2B

24 Hour Fitness entered into a restructuring support agreement with lenders holding approximately 73% of the company’s secured debt and approximately 65% of the company’s senior unsecured notes. The restructuring will reduce $1.2 billion dollars of funded debt.

October 8, 2020 24 Hour Fitness | FTI Consulting | Lazard | Tony Ueber | Weil Gotshal & Manges Ellie Delany

Houlihan Lokey, AlixPartners Advise UTEX on Restructuring

Houlihan Lokey is serving as financial advisor and investment banker and AlixPartners is serving as restructuring advisor to UTEX Industries, which entered into a restructuring support agreement with the majority of its lenders and will commence reorganization under Chapter 11.

October 7, 2020 AlixPartners | Houlihan Lokey | Mike Balas | UTEX | Weil Gotshal & Manges Phil Neuffer

Chuck E. Cheese, Peter Piper Pizza to Receive $200MM in DIP Financing

CEC Entertainment, the owner/operator of Chuck E. Cheese and Peter Piper Pizza, entered into a plan support agreement with consenting creditors and received a commitment for $200 million in debtor-in-possession financing from certain of its first lien lenders.

BOKF Agents $180MM in Exit Financing for Unit Corporation

Unit Corporation emerged from Chapter 11 bankruptcy. As part of the company’s plan of reorganization, Unit converted its existing credit facility agented by BOKF into a $140 million reserve-based lending revolving loan and $40 million term loan.

Bankruptcy Court Approves EP Energy’s Amended Restructuring Plan

The United States Bankruptcy Court for the Southern District of Texas confirmed EP Energy’s amended plan of reorganization. FTI Consulting is serving as restructuring advisor and Evercore is serving as financial advisor to EP Energy.

August 31, 2020 EP Energy | Evercore | FTI Consulting | Russell Parker | Weil Gotshal & Manges Phil Neuffer

Wells Fargo to Provide $30MM in Exit Financing for Jason Industries

The U.S. Bankruptcy Court for the Southern District of New York confirmed Jason Industries’ plan of reorganization, clearing the way for the company to complete its restructuring. Upon its exit from Chapter 11, Jason will enter into a $30 million ABL credit facility with Wells Fargo.

Brooks Brothers Enters $305MM Stalking Horse Agreement with SPARC Group

Brooks Brothers filed a motion in the United States Bankruptcy Court for the District of Delaware to obtain court approval of an asset purchase agreement with stalking horse bidder SPARC Group.

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