The Firm recently represented Unigel Participacoes S.A. and its affiliates in connection with the financial restructuring of $334.1 million debt due to financial institutions including Banco do Brasil, Citibank, Deutsche Bank, HSBC, Itau and Santander. The restructuring involved converting foreign exchange contracts and pre-export financings into new pre-export financings due 2021. The pre-export financings are secured by first-priority liens on industrial facilities and equipment as well as on export receivables.

Ashurst has advised Boart Longyear Limited (BLY) in a A$387million recapitalisation transaction with Centrebridge Partners, L.P.

The recapitalisation is the result of a completed strategic review, begun in February 2014, which considered a range of restructuring options, including the potential sale of all or parts of BLY, debt and equity options and debt to equity conversions.

The recapitalisation comprises of:

Freshfields Bruckhaus Deringer has advised Monarch Holdings Limited on the completion of its strategic review and restructuring programme and its acquisition by Greybull Capital LLP.

Latham & Watkins has advised Punch A and Punch B Senior Noteholders’ Committee (the “Committee”) in relation to the conclusion of successful negotiations with the Punch group and its stakeholders to implement the long-awaited restructuring of its securitisation vehicles’ (Punch A and Punch B) £2.2 billion of debt (excluding the swap and liquidity liabilities). The transaction is one of the most legally and commercially complex restructurings in recent times.

Swets Information Services in Germany and Schweitzer Fachinformationen have today agreed a partnership arrangement, based on a service agreement. The international Swets Group became insolvent in September of this year.

Milbank assisted Eagle Bulk Shipping Inc. (“Eagle”) by consummating a fully consensual prepackaged chapter 11 plan of reorganization (the “Plan”) a mere 70 days after the company commenced its bankruptcy case. The transaction is particularly noteworthy, as Eagle became the first company to maintain its listing on the Nasdaq Global Select Market during the duration of its chapter 11 case and remain listed thereon following its emergence from bankruptcy.

Shearman & Sterling is counsel to Lupatech S.A. and certain of its affiliates (collectively, the “Lupatech Group”) and to their Foreign Representative in proceedings commenced pursuant to Chapter 15 of the United States Bankruptcy Code. The Lupatech Group manufactures highly technical components and delivers specialized services principally within the oil, gas, and foundry industries in Latin America and, increasingly, throughout the world.

Ashurst has advised Issuer and Borrower subsidiaries of Punch Taverns Plc's A and B securitisations on the restructuring of the £2.2 billion securitisations.

The agreed restructuring involves a £50 million firm placing of new equity into Punch, the exchange of existing junior notes for a combination of cash, new notes and equity, the redesignation or repayment of existing senior notes, a £7 million subscription for new notes in Punch B, crystallisation and reprofiling of existing swap liabilities and amendments to the existing liquidity facilities.

Linklaters advised a number of bondholders as Punch Taverns, Britain’s second largest pub group, completed all remaining conditions to restructuring proposals. The deal saw the restructuring of Punch’s £2.3 billion structured debt and £83 million of listed equity.

The restructuring will give certain bondholders more rights, including purchase rights for bondholders and exclusive right to credit bid for certain bondholder classes, should Punch be in financial distress in the future.

Mayer Brown has advised Nordic Mines on the restructuring of the project finance facilities provided by its lenders.
The restructuring, which included the write-down of lender debt from EUR 45.1 million to EUR 12.5 million, is of strategic importance as it will enable Nordic Mines to reopen its Lavia operations in Finland — a mine that has historically produced over two tons of gold. In 2011, Mayer Brown advised Nordic Mines on the original project financing in respect of the gold mine in Finland.