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Corporate Restructuring & Bankruptcy

Experience Highlights

  • Jonah Energy in an out-of-court restructuring involving a deleveraging of the company’s balance sheet by approximately $580 million through a rights offering, tender offer, and redemption of non-tendered notes, together with an amended and restated credit agreement of Jonah’s $750 million credit facility

  • Taco Bueno Restaurants in a prepetition debt sale transaction followed by an in-court restructuring in the U.S. Bankruptcy Court for the Northern District of Texas that involved equitizing $140 million in senior secured debt, transitioning ownership to an affiliate of Sun Holdings, Inc., renegotiating a substantial portion of the company’s lease portfolio, and reaching a global settlement with unsecured creditors in fewer than 45 days

  • Unit Corporation in its prearranged chapter 11 cases involving the deleveraging of more than $650 million via a debt-for-equity transaction with the company’s subordinated noteholders

  • Wells Fargo Bank as Administrative Agent, DIP Agent, and Exit Facility Agent in Oasis Petroleum’s restructuring and prepackaged chapter 11 bankruptcy cases, including a $450 million DIP financing and $575 million exit financing

  • JP Morgan Chase as Administrative Agent, DIP Agent, and Exit Facility Agent of a $615 million credit facility in Denbury Resources’ restructuring and prepackaged chapter 11 bankruptcy

  • Riverstone Holdings as sponsor in the prepackaged chapter 11 cases of its portfolio company UTEX Industries, a leading sealant manufacturer

  • TPG and Providence Equity Partners in connection with the restructuring of portfolio company Rentpath, Inc.

  • Bonanza Creek Energy in a merger to acquire HighPoint Resources Corporation that was valued at approximately $376 million, and included a registered exchange offer, consent solicitation, and simultaneous registered solicitation of a prepackaged plan of reorganization under chapter 11, which was followed by two subsequent out-of-court mergers and acquisitions by the combined company, resulting in a company with total expected enterprise value of $4.5 billion

  • Sanjel Corporation, an oilfield services company headquartered in Canada, in connection with a chapter 15 case and the sale of substantially all of the debtor’s U.S. assets