Hertz filed its proposed plan of reorganization and related disclosure statement with the U.S. Bankruptcy Court for the District of Delaware. Knighthead Capital Management and Certares Opportunities will serve as the plan sponsors.
Athene, an affiliate of Apollo Capital Management, committed to provide Hertz Global Holdings a $4 billion asset-backed securitization short-term facility.
Hertz secured commitments for debtor-in-possession financing totaling $1.65 billion. Moelis & Co. is serving as investment banker, while FTI Consulting is serving as Hertz’s financial advisor and White & Case is serving as legal advisor.
AgroFresh closed its comprehensive refinancing, including an amendment and extension of its senior secured credit facilities. BMO Capital Markets acted as sole financial advisor and left-lead bookrunner, while Deutsche Bank and ING acted as joint lead arrangers and joint bookrunners.
SCM Topco, parent of Salt Creek Midstream, closed on a recapitalization with additional investments from both its existing lender groups and funds managed by Ares Management.
GNC Holding and certain of its secured lenders and key stakeholders reached an agreement to pursue a dual-path process that will allow the company to restructure its balance sheet and accelerate its business strategy through Chapter 11 of the U.S. Bankruptcy Code.
APC Automotive Technologies filed voluntary petitions for reorganization pursuant to Chapter 11 of the United States Bankruptcy Code. The company also negotiated agreements with certain of its existing term loan lenders for $50 million in debtor-in-possession financing.
Bank of America will provide debtor-in-possession financing to fund the restructuring process of Techniplas, which filed for voluntary Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware.
White & Case promoted 40 lawyers around the world to its partnership, including 24 involved in corporate financial matters, mergers & acquisitions and restructuring. The promotions are effective January 1, 2017 and represent 11 of the firm’s global practices in 17 locations.
Revel AC announced that the company completed an amendment and restatement of its existing first lien credit. JPMorgan Chase acted as administrative agent.