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 …
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 …
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 …
PizzaExpress Granted Chapter 15 Recognition
November 2020, New York UK chain restaurant PizzaExpress has received Chapter 15 recognition for its UK restructuring plan, under the new Part 26A of the UK Companies Act yesterday. This will allow the company to procced with a reorganisation that will reduce …
HEMA Debt Restructuring Successfully Completed
October 2020, London One of the largest and oldest Dutch generic housewares retailers, HEMA Group, engaged GLAS to work on its complex debt restructuring which successfully completed last week. On completion of the restructuring, HEMA’s existing bond debt, which originally amounted to …
GLAS appointed Collateral Agent for Frigorifico Concepción Restructuring
October 2020, New York GLAS was recently appointed Collateral Agent for Frigorífico Concepción under the Bolivian Law Documents and the Paraguayan Share Pledge Agreement in connection with the Indenture entered into on January 29, 2020. Frigorífico Concepción is a meat wholesaler based …
GLAS appointed Agent and Trustee for Fairhold Restructuring
October 2020, London GLAS has recently been appointed Trustee, Security Agent, Calculation Agent, Paying Agent, Cash Manager, Bond Registrar, Share Registrar, Escrow Agent, Holding Period Trustee and Junior Debt Agent in connection with Fairhold Securitisation Limited’s £1 billion restructuring of its distressed …
GLAS appointed Agent for FatFace Restructuring
October 2020, London GLAS has recently been appointed Facility Agent, Security Agent and Escrow Agent for FatFace Limited’s debt-for-equity swap that has seen bank lenders and debt funds take control. As a result, the company will receive £15 million in new financing. …
GLAS acts as Notes Trustee, Security Agent and Information and Tabulation Agent on HEMA’s Restructuring
London, October 2020 GLAS is acting on Dutch variety store-chain HEMA’s restructuring, which is being implemented via an English scheme of arrangement and related Dutch and US approvals, in its various capacities as Facility Agent, Security Agent, Super Senior and Senior Trustee …
GLAS Appointed Agent for HEMA Consent Solicitation
London, July 2020 GLAS Specialist Services Limited has been appointed Information and Tabulation Agent for the HEMA Bondco II B.V. Consent Solicitation, relating to the €150,000,000 8.50% Senior Notes due 2023 as outlined below: Regulation S Notes Common Code: 164764508 ISIN Number: …
GLAS appointed Tabulation Agent by HEMA
June 2020, London GLAS has recently been appointed by HEMA to act as Tabulation Agent for the Lock-Up Agreement. HEMA is a Dutch variety store-chain. Noteholders that have not yet signed the Lock-Up Agreement and wish to support the Transaction will need …
GLAS appointed Agent for bankruptcy of J. C. Penney
May 2020, New York GLAS USA LLC has been appointed Administrative Agent and GLAS Americas LLC has been appointed Collateral Agent for a $900 million DIP Loan Facility for the restructuring of J. C. Penney’s outstanding debt. J. C. Penney announced it …
