GenesisCare Deal Graphic

GLAS plays several roles in reorganisation of GenesisCare

Genesiscare TombstoneGLAS is proud to share the news of our participation on the restructuring and reorganisation of Sydney-based GenesisCare.

GenesisCare

GenesisCare are an integrated cancer care provider aiming to change the face of cancer care with modern treatments and techniques designed to achieve the best possible life outcomes for patients. Founded in 2005, GenesisCare have operations in Australia, the UK, the US and Spain, making them one of the world’s largest private providers of cancer care.

Successful restructuring

The restructuring of GenesisCare led to the business separating into independent businesses under common ownership, and the success of this deal led to access to US$56 million in new financing from their new owners to ensure these new businesses are well capitalised to achieve their strategic priorities.

GLAS is proud to have played several roles in this transaction including Note Trustee, Security Trustee, Principal Paying Agent, Registrar, Calculation Agent, Settlement Agent and Transfer Agent, and we are pleased to see a successful outcome for GenesisCare.

GLAS team

The GLAS deal team was made up of  Tom Vanson – Senior Transaction Manager, Sam Dunn – Client Services Administrator and Luke Harvey – Business Development Associate.

Links

GenesisCare’s website: GenesisCare Completes Reorganisation and Emerges from Chapter 11
GenesisCare’s announcement on successful restructuring: GenesisCare Completes Reorganisation and Emerges from Chapter 11

About GLAS

GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.

GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of USD360bn of assets under administration on a daily basis. For more information, please contact media@glas.agency.

Summary
GLAS acted as agent and security agent on the first-of-its-kind restructuring of international shipping company Vroon
Article Name
GLAS acted as agent and security agent on the first-of-its-kind restructuring of international shipping company Vroon
Description
This was the first restructuring to be carried out using a parallel English scheme of arrangement and Dutch WHOA plan. This restructuring involved certain lenders receiving participations in a new syndicated secured facility, while other lenders had their facilities amended as well as a debt-for-equity swap.
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GLAS
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