Recent Distressed Financings: Trends and Lessons Learned
Author: Van C. Durrer, II.
Source: Volume 34, Number 02, February 2018 , pp.9-13(5)
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Abstract:
In this article, the author discusses recent distressed financings in the retail sector that illustrate the rising popularity of “unrestricted subsidiaries” in restructuring transactions, issuers emboldened to restructure out-of-court using exchange offers, and the availability of excess capital that has eased DIP financing terms. He closes by noting sectors facing potential restructurings that may be affected by the Trump Administration.Keywords: “Unrestricted Subsidiary”; Post-Bankruptcy Financing (DIP Financing); Claire’s Stores Inc.; J. Crew Group, Inc.; Neiman Marcus Grp. Ltd
Affiliations:
1: Skadden, Arps, Slate, Meagher & Flom LLP.