Restructuring

June 15, 2021

GLAS Appointed Facility Agent and Security Agent on Smile Telecom Restructuring

June 2021, London GLAS has recently been appointed Facility Agent and Security Agent on the US$50 million super senior new money injection to Smile Telecom Group in relation to the financial restructuring of the company and its subsequent implementation through a restructuring plan under part 26A of the English Companies Act 2006. Smile Telecom is […]

Restructuring
January 26, 2021

GLAS Appointed Facility, Security, and Information Agent for Gategroup

January 2021, London GLAS has recently been appointed as Facility Agent and Security Agent on Gategroup’s interim term loan facility. GLAS has also been appointed as Information Agent in connection with the group’s implementation of its proposed restructuring plan. Gategroup is a Swiss-headquartered group providing services to the international travel industry, including retail on-board services […]

Restructuring
January 20, 2021

GLAS Appointed Facility Agent and Security Agent for Nynas AB Restructuring

January 2021, London GLAS has recently been appointed as the Syndicate Facility Agent (Global Loan Agency Services Limited) and Security Agent (GLAS Trust Corporation Limited) on the restructuring of the financial indebtedness of Nynas AB, a Swedish manufacturer of specialty naphthenic oils and bitumen products. The restructuring was implemented through a Swedish composition process and […]

Restructuring
January 14, 2021

GLAS Appointed as Note Trustee for EA Partners II B.V.

January 2021, London GLAS Trustees Limited has replaced BNY Mellon Corporate Trustee Services as Note Trustee for EA Partners II B.V.’s US$500 million 6.750% notes maturing in June 2021, as approved by extraordinary resolutions of Bondholders. GLAS is the leading independent provider of debt administration services, providing services to clients globally with operations in the […]

Restructuring
November 19, 2020

Solocal Debt Restructuring Successfully Completed

November 2020, Paris The partial equitization of debt for Solocal, a company specialising in advertising and digital marketing, has successfully completed. As a result, the Group will receive cash proceeds for an amount of €85 million (net of the Support Fee) and will reduce its gross indebtedness by approximately €260 million, down to around €256 […]

Paris, Restructuring
November 12, 2020

Codere Restructuring Successfully Completed

November 2020, London The restructuring of international gaming operator, Codere Group, successfully completed last week. On completion of the restructuring, Codere Group’s new financing totals EUR 250 million through Super-Senior Notes issued in two tranches in Reg S and 144A form, via the ICSDs. GLAS was mandated on a significant number of roles for the […]

GLAS Team, Restructuring
November 10, 2020

PizzaExpress Restructuring Successfully Completed

November 2020, London PizzaExpress, the international casual dining group, successfully completed its comprehensive debt restructuring on 5 November 2020. As a result of the transaction, the group’s external debt has more than halved, from £735 million to £319 million, with debt maturities extended to 2025. The transaction involved a partial debt-for-equity swap of the existing […]

GLAS Team, Restructuring