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.
Dave & Buster’s Entertainment entered into an agreement to acquire Main Event from Ardent Leisure Group and RedBird Capital Partners. Deutsche Bank Securities, JPMorgan Chase Bank and BMO Capital Markets are the joint lead arrangers and joint bookrunners for the financing supporting the acquisition.
Northleaf Capital Partners and AVALT acquired AMAROK, a provider of contracted perimeter security infrastructure solutions in the United States. Golub Capital provided debt financing for the transaction.
Talen Energy and its wholly-owned subsidiary, Talen Energy Supply, obtained a financing commitment led by GoldenTree Asset Management and Silver Point Finance for a first lien facility in the aggregate amount of $788 million maturing in September 2024.
JPMorgan’s strategic situations division led a $30 million revolving credit facility and a new $370 million first lien term loan for Healogics, a provider of wound care. Healogics also secured $240 million in equity investments.
Truist Securities served as left lead arranger, Fifth Third Bank acted as joint lead arranger, Union Bank acted as syndication agent and Regions Bank acted as documentation agent on a $400 million revolving credit facility with a $150 million accordion for Anthem Entertainment.
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.
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 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 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.