GLAS Updates

May 26, 2020

Christy Searl joins GLAS America’s Business Development Team

May 2020, New York GLAS is delighted to announce Christy Searl has joined the GLAS America’s Business Development team, headed by Senior Vice President Martin Reed. Christy brings a unique perspective to GLAS, having worked as both a lawyer and an investor in the financial services and insolvency industries for over two decades. Christy practiced as […]

GLAS Team, New York
May 19, 2020

IWIRC International & INSOL: Global Deal-Making: Cultural Considerations

May 2020 IWIRC is pleased to announce a unique panel event in collaboration with INSOL. The panel was originally scheduled to be hosted as part of the INSOL Cape Town Conference. Insolvency and restructuring clients are often global organizations with operations throughout the world. In addition, debt restructuring transactions are increasingly globalized and a successful […]

Events
May 19, 2020

Extension of PizzaExpress Consent Solicitation

May 2020, London PizzaExpress Financing 1 plc and PizzaExpress Financing 2 plc (the Issuers) have announced an extension of the expiration time under the Issuer’s consent solicitation statement dated May 1, 2020 relating to: £200,000,000 aggregate principal amount of 8.625% Senior Notes due 2022 Regulation S Notes: Common Code 102894804, ISIN XS1028948047 Rule 144A Notes: […]

Bondholder Notice
May 12, 2020

GLAS appointed Agent for OneWeb’s DIP Facility

May 2020, New York OneWeb Communications Limited (as Borrower) and OneWeb Global Limited (as Parent) has appointed GLAS USA LLC as Administrative Agent and GLAS Trust Corporation Limited as Collateral Agent in respect of their DIP Superpriority Senior Secured Debtor in Possession Credit Facility consisting of an aggregate principal amount of up to $300 million, […]

New Business, New York
May 5, 2020

GLAS Appointed Agent on the PizzaExpress Consent Solicitation

May 2020, London GLAS Specialist Services Limited has been appointed Information and Tabulation Agent for PizzaExpress Financing 2 plc’s (the Issuer) 6.625% Senior Secured Notes due 2021 and PizzaExpress Financing 1 plc’s (the Issuer) 8.625% Senior Notes due 2022. GLAS has also been mandated Facility Agent on PizzaExpress Financing 2 plc’s (the Borrower) £70 million […]

Bondholder Notice, New Business
May 1, 2020

GLAS Appointed Agent for Moby S.p.A.

April 2020, London GLAS has recently been appointed Successor Facility Agent and Successor Security Agent for Moby S.p.A. by the Majority Lenders pursuant to a deed of resignation and appointment. Moby S.p.A. is an Italian shipping company that operates ferries and cruiseferries between the Italian or French mainland and the islands of Elba, Sardinia and […]

New Business, Restructuring
April 30, 2020

Adam Geller joins GLAS America’s Business Development Team

April 2020, New York GLAS is delighted to announce Adam Geller has joined the GLAS America’s Business Development team, headed by Senior Vice President Martin Reed. Adam comes with a wealth of experience in the Leverage Finance space having previously held positions at Mizuho Americas, Lampert Debt Advisors and Citigroup.  His clients have included both corporate […]

GLAS Team, New York
April 27, 2020

Aymeric Mahé joins as new head of GLAS SAS

April 2020, Paris GLAS is pleased to announce that Aymeric Mahé has recently joined the team as Head of GLAS SAS, our Paris operation. Aymeric is a French and New York qualified lawyer with more than 15 years of experience. Aymeric has worked for several years at major international law firms in Paris and London […]

GLAS Team, Paris
April 24, 2020

GLAS appointed Agent for Quorum Health Corporation

April 2020, New York GLAS has recently been appointed DIP Administrative Agent and Collateral Agent for Quorum Health Corporation’s US$100 million DIP Term Loan Facility. Quorum Health is an operator of general acute care hospitals across the United States. Quorum also operates Quorum Health Resources, LLC, a hospital management advisory and consulting services business. For more […]

New Business, New York
April 9, 2020

Current Financial Environment: Liquidity Solutions and Direct Lending

April 2020, London GLAS and Morrison & Foerster LLP recently co-hosted a webinar (available on-demand here) focused on liquidity solutions and direct lending. We discussed strategies and considerations that direct lenders should be aware of in the current environment, with a focus on the following themes: What we’re hearing in the current environment Why and […]

Direct Lending, Events
March 17, 2020

COVID-19 Update from GLAS

1 April 2020 Dear Clients and Friends of GLAS First and foremost, on behalf of our global team, we hope you and your families are in good health at this challenging time. As we move into another week of lock down, we simply cannot believe the global escalation that has happened since our last bulletin […]

Australia, Client Services, GLAS Team, New York, Other News, Paris
March 3, 2020

GLAS to attend the European Direct Lending Forum

London, March Client Relationship Manager Deion Fox and Business Development’s Keith Miller are attending this year’s Creditflux European Direct Lending Forum in London on 10 March. For networking opportunities, please contact deion.fox@glas.agency or keith.miller@glas.agency. For more information on the conference, please visit here.

Direct Lending, Events
May 26, 2020

Christy Searl joins GLAS America’s Business Development Team

May 2020, New York

GLAS is delighted to announce Christy Searl has joined the GLAS America’s Business Development team, headed by Senior Vice President Martin Reed.

Christy brings a unique perspective to GLAS, having worked as both a lawyer and an investor in the financial services and insolvency industries for over two decades. Christy practiced as an in-house lawyer at Lehman Brothers, where she handled litigation, bankruptcy and workout matters across all divisions of the bank. Following Lehman’s historic filing for bankruptcy protection, Christy spent nearly a decade at the Lehman Debtor Estate winding down the corporate, derivatives and real estate portfolios. At Burford Capital, Christy helped manage the US underwriting business. She began her career as an Associate at Chadbourne & Parke LLP.

“Christy’s addition to GLAS Americas and her lead on our Business Development team will be a significant step for us in achieving new success in the US market. We look forward to her contributions and how they will reshape our direction” says Martin Reed, SVP.

For more information, please contact media@glas.agency.

GLAS Team, New York
May 19, 2020

IWIRC International & INSOL: Global Deal-Making: Cultural Considerations

May 2020

IWIRC is pleased to announce a unique panel event in collaboration with INSOL. The panel was originally scheduled to be hosted as part of the INSOL Cape Town Conference.

Insolvency and restructuring clients are often global organizations with operations throughout the world. In addition, debt restructuring transactions are increasingly globalized and a successful outcome often involves engaging with a multi-jurisdictional mix of stakeholders from diverse backgrounds and cultures. Many market participants therefore believe that in this environment, a restructuring practitioner needs to be sensitive to diversity in many different forms including cultural diversity in order to be effective.

Join us for a unique high-powered panel event which is jointly organised by INSOL and IWIRC where we will explore the following issues:

  • What do we mean by cultural considerations?
  • Can cultural dynamics influence the success of a restructuring or is its importance overstated?
  • At a practical level, how can cultural dynamics influence a successful negotiation?
  • How can you equip yourself to be a better communicator in today’s increasingly diverse world?

The panel will be moderated by GLAS Co-Founder and President Mia Drennan, who is based in London and is IWIRC’s Europe Networks Director, and Pooja Sinha, Partner at GLS Law Firm, who is based in Singapore and is IWIRC’s Asia Networks Director.

The panelists are:

  • Kathleen Wong, Partner, Allen & Overy, Johannesburg
  • Rebecca Hume, Partner, Kobre & Kim, Cayman Islands
  • Smitha Menon, Partner, WongPartnership LLP, Singapore
  • Sonya Van De Graaf, Partner, Morrison and Foerster (UK) LLP, London
  • Yuri Sugano, Partner, Nishimura & Asahi, Tokyo

Date:     Thursday, May 21, 2020
Time:    7:00pm – 8:00pm Singapore/Hong Kong
8:00pm – 9:00pm Tokyo
12noon – 1:00pm BST
7:00am – 8:00am US (EST)

For more information or to register, please click here.

For more information on GLAS, please contact: media@glas.agency.

Events
May 19, 2020

Extension of PizzaExpress Consent Solicitation

May 2020, London

PizzaExpress Financing 1 plc and PizzaExpress Financing 2 plc (the Issuers) have announced an extension of the expiration time under the Issuer’s consent solicitation statement dated May 1, 2020 relating to:

£200,000,000 aggregate principal amount of 8.625% Senior Notes due 2022 Regulation S Notes:
Common Code 102894804, ISIN XS1028948047 Rule 144A Notes: Common Code 102894677, ISIN XS1028946777

And

£465,000,000 aggregate principal amount of 6.625% Senior Secured Notes due 2021 Regulation S Notes:
Common Code 102894812, ISIN XS1028948120 Rule 144A Notes: Common Code 102894855, ISIN XS1028948559

The consent solicitation with respect to the Notes will now expire at 5:00 p.m. (London) on May 29, 2020 (the “New Expiration Time”).

To see the original press release, please visit here.

For more information contact the Liability Management Services Team at GLAS at lm@glas.agency.

Bondholder Notice
May 12, 2020

GLAS appointed Agent for OneWeb’s DIP Facility

May 2020, New York

OneWeb Communications Limited (as Borrower) and OneWeb Global Limited (as Parent) has appointed GLAS USA LLC as Administrative Agent and GLAS Trust Corporation Limited as Collateral Agent in respect of their DIP Superpriority Senior Secured Debtor in Possession Credit Facility consisting of an aggregate principal amount of up to $300 million, with up to $75 million in new money term loans.

OneWeb is a global communications company with headquarters in London, United Kingdom and McLean, Virginia, United States.

For more information, please contact media@glas.agency.

New Business, New York
May 5, 2020

GLAS Appointed Agent on the PizzaExpress Consent Solicitation

May 2020, London

GLAS Specialist Services Limited has been appointed Information and Tabulation Agent for PizzaExpress Financing 2 plc’s (the Issuer) 6.625% Senior Secured Notes due 2021 and PizzaExpress Financing 1 plc’s (the Issuer) 8.625% Senior Notes due 2022.

GLAS has also been mandated Facility Agent on PizzaExpress Financing 2 plc’s (the Borrower) £70 million Super Senior Term Loan and Revolving Credit Facility. The Term Loan and RCF are intended to refinance the existing indebtedness of the Borrower and for general corporate and working capital purposes.

PizzaExpress is a UK based Italian restaurant group.

For more information, please contact media@glas.agency.

Bondholder Notice, New Business
May 1, 2020

GLAS Appointed Agent for Moby S.p.A.

April 2020, London

GLAS has recently been appointed Successor Facility Agent and Successor Security Agent for Moby S.p.A. by the Majority Lenders pursuant to a deed of resignation and appointment.

Moby S.p.A. is an Italian shipping company that operates ferries and cruiseferries between the Italian or French mainland and the islands of Elba, Sardinia and Corsica.

For more information, please contact media@glas.agency.

New Business, Restructuring
May 26, 2020

Christy Searl joins GLAS America’s Business Development Team

May 2020, New York

GLAS is delighted to announce Christy Searl has joined the GLAS America’s Business Development team, headed by Senior Vice President Martin Reed.

Christy brings a unique perspective to GLAS, having worked as both a lawyer and an investor in the financial services and insolvency industries for over two decades. Christy practiced as an in-house lawyer at Lehman Brothers, where she handled litigation, bankruptcy and workout matters across all divisions of the bank. Following Lehman’s historic filing for bankruptcy protection, Christy spent nearly a decade at the Lehman Debtor Estate winding down the corporate, derivatives and real estate portfolios. At Burford Capital, Christy helped manage the US underwriting business. She began her career as an Associate at Chadbourne & Parke LLP.

“Christy’s addition to GLAS Americas and her lead on our Business Development team will be a significant step for us in achieving new success in the US market. We look forward to her contributions and how they will reshape our direction” says Martin Reed, SVP.

For more information, please contact media@glas.agency.

GLAS Team, New York
May 19, 2020

IWIRC International & INSOL: Global Deal-Making: Cultural Considerations

May 2020

IWIRC is pleased to announce a unique panel event in collaboration with INSOL. The panel was originally scheduled to be hosted as part of the INSOL Cape Town Conference.

Insolvency and restructuring clients are often global organizations with operations throughout the world. In addition, debt restructuring transactions are increasingly globalized and a successful outcome often involves engaging with a multi-jurisdictional mix of stakeholders from diverse backgrounds and cultures. Many market participants therefore believe that in this environment, a restructuring practitioner needs to be sensitive to diversity in many different forms including cultural diversity in order to be effective.

Join us for a unique high-powered panel event which is jointly organised by INSOL and IWIRC where we will explore the following issues:

  • What do we mean by cultural considerations?
  • Can cultural dynamics influence the success of a restructuring or is its importance overstated?
  • At a practical level, how can cultural dynamics influence a successful negotiation?
  • How can you equip yourself to be a better communicator in today’s increasingly diverse world?

The panel will be moderated by GLAS Co-Founder and President Mia Drennan, who is based in London and is IWIRC’s Europe Networks Director, and Pooja Sinha, Partner at GLS Law Firm, who is based in Singapore and is IWIRC’s Asia Networks Director.

The panelists are:

  • Kathleen Wong, Partner, Allen & Overy, Johannesburg
  • Rebecca Hume, Partner, Kobre & Kim, Cayman Islands
  • Smitha Menon, Partner, WongPartnership LLP, Singapore
  • Sonya Van De Graaf, Partner, Morrison and Foerster (UK) LLP, London
  • Yuri Sugano, Partner, Nishimura & Asahi, Tokyo

Date:     Thursday, May 21, 2020
Time:    7:00pm – 8:00pm Singapore/Hong Kong
8:00pm – 9:00pm Tokyo
12noon – 1:00pm BST
7:00am – 8:00am US (EST)

For more information or to register, please click here.

For more information on GLAS, please contact: media@glas.agency.

Events
May 19, 2020

Extension of PizzaExpress Consent Solicitation

May 2020, London

PizzaExpress Financing 1 plc and PizzaExpress Financing 2 plc (the Issuers) have announced an extension of the expiration time under the Issuer’s consent solicitation statement dated May 1, 2020 relating to:

£200,000,000 aggregate principal amount of 8.625% Senior Notes due 2022 Regulation S Notes:
Common Code 102894804, ISIN XS1028948047 Rule 144A Notes: Common Code 102894677, ISIN XS1028946777

And

£465,000,000 aggregate principal amount of 6.625% Senior Secured Notes due 2021 Regulation S Notes:
Common Code 102894812, ISIN XS1028948120 Rule 144A Notes: Common Code 102894855, ISIN XS1028948559

The consent solicitation with respect to the Notes will now expire at 5:00 p.m. (London) on May 29, 2020 (the “New Expiration Time”).

To see the original press release, please visit here.

For more information contact the Liability Management Services Team at GLAS at lm@glas.agency.

Bondholder Notice
May 12, 2020

GLAS appointed Agent for OneWeb’s DIP Facility

May 2020, New York

OneWeb Communications Limited (as Borrower) and OneWeb Global Limited (as Parent) has appointed GLAS USA LLC as Administrative Agent and GLAS Trust Corporation Limited as Collateral Agent in respect of their DIP Superpriority Senior Secured Debtor in Possession Credit Facility consisting of an aggregate principal amount of up to $300 million, with up to $75 million in new money term loans.

OneWeb is a global communications company with headquarters in London, United Kingdom and McLean, Virginia, United States.

For more information, please contact media@glas.agency.

New Business, New York
May 5, 2020

GLAS Appointed Agent on the PizzaExpress Consent Solicitation

May 2020, London

GLAS Specialist Services Limited has been appointed Information and Tabulation Agent for PizzaExpress Financing 2 plc’s (the Issuer) 6.625% Senior Secured Notes due 2021 and PizzaExpress Financing 1 plc’s (the Issuer) 8.625% Senior Notes due 2022.

GLAS has also been mandated Facility Agent on PizzaExpress Financing 2 plc’s (the Borrower) £70 million Super Senior Term Loan and Revolving Credit Facility. The Term Loan and RCF are intended to refinance the existing indebtedness of the Borrower and for general corporate and working capital purposes.

PizzaExpress is a UK based Italian restaurant group.

For more information, please contact media@glas.agency.

Bondholder Notice, New Business

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