Glass Mountain Pipeline Holdings, with the support of its equity sponsor, GEPIF Glass Mountain Pipeline, and lenders holding 66.97% of the company’s revolving and term loans, entered into a restructuring support agreement that provides for the elimination of more than $230 million in debt.
JCPenney entered into an asset purchase agreement with Brookfield Asset Management, Simon Property Group and a majority of the company’s DIP and first lien lenders.
Foresight Energy and all of its subsidiaries entered into a restructuring support agreement with ad hoc lender groups holding more than 73% of the approximately $1.4 billion in claims under each of Foresight Energy’s first lien credit agreement and second lien notes.
Alvaro Gomez de Membrillera Galiana has joined Paul, Weiss, Rifkind, Wharton & Garrison as a partner in its M&A group, resident in the London office.
The Wall Street Journal reported that sources said Preferred Sands Holding hired restructuring advisers at Paul, Weiss, Rifkind, Wharton & Garrison as it handles a high debt load and weak operating results.