Financing & Restructuring Advisory

Greenhill advises corporations, institutions and governments on a wide range of capital structure, restructuring and financing situations. We offer expert advice, extensive transactional experience and comprehensive services unconflicted by capital markets, trading or research activities.

Comprehensive Capabilities

Greenhill's Financing Advisory & Restructuring practice benefits from the experience of some of the longest serving professionals in the industry. Our track record includes pre-emptive recapitalizations, structuring and advice on public offerings, inter-creditor and shareholder negotiations, acquisitions and sales of distressed companies and assets, debt and equity exchange offers and restructuring and a range of other advisory services for a diverse client base. We strive to reach consensual deals that are in the best interests of our clients and we have an established history of brokering transactions in situations with divisive inter-creditor and shareholder issues.

Financing Advisory

Greenhill advises corporations, institutions and governments on their most critical financing decisions, including large public offerings of equity and debt securities, often for purposes of acquisition financing, rights offerings, strategic alternatives for minority equity positions and multiclass equity structures, private placements and funding alternatives, as well as a wide range of other financing based strategic decisions. Greenhill brings extensive experience negotiating and structuring tailored solutions for our clients with no conflicts from other business activities or product offerings to influence our advice.

Debtor Advisory

Greenhill provides a full range of advisory services to debtors both inside and outside formal bankruptcy. Our goal is to assist debtors by working with all of their stakeholders to implement restructuring plans that balance a pragmatic sharing of value between stakeholders while minimizing corporate uncertainty. We recognize that every situation is unique and that traditional solutions are not always best suited for our clients. Based on our years of experience and wide-variety of previous transactions, we assist debtors with thinking creatively about their options and selecting attributes of different strategic alternatives that can be packaged together into a compelling solution.

Creditor Advisory

Greenhill advises creditors and committees of financially distressed companies both inside and outside formal bankruptcy. Our goal is to help creditors maximize returns from distressed corporate situations and to work with other constituents to achieve that return in a timely manner. We understand that creditors may value the form of consideration and other terms of a restructuring proposal differently, and we work with committees to optimize the returns our clients receive based on their desired outcome.

Distressed M&A

Greenhill frequently combines the experience of its M&A and restructuring professionals in advising either buyers or sellers of distressed assets and/or companies. Greenhill is able to advise a client throughout the entire process, including identification of targets/buyers, participation in a sales process and court proceedings, if necessary. We look to identify creative tactical or strategic solutions to unlock value in every situation. We recognize that executing M&A in distressed situations requires incremental skills that are not always required within traditional M&A transactions. Some of these skills are working with a highly levered acquiror or target, managing the bankruptcy process, performing a valuation that can withstand court scrutiny and managing inherent conflicts of interest among different constituencies.

International Experience

Greenhill has dedicated professionals based in London and Sydney focused on financing and restructuring advisory and a strong track record of successful international restructuring transactions. Combining our international footprint with our independence, experience and analytical advice, we provide a high quality advisory service in major restructuring cases around the world.

Recent Transactions

08-Dec-21
$240 million
United States flag
Target: 

Alert 360

United States flag
Acquiror: 
My Alarm Center

Advising My Alarm Center, a nationwide provider of security and smart home monitoring services, on the acquisition of Alert 360, a leading competitor in the alarm monitoring industry

01-Dec-21
$353 million
Australia flag
Target: 

Liontown Resources

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Acquiror: 
N/A

Advised Liontown Resources, an ASX-listed lithium company focused on the development of the world class Kathleen Valley Lithium Project, on its A$490m equity raising, comprised of a fully underwritten placement of A$450m and a non-underwritten share purchase plan of A$40m

15-Nov-21
$166 million
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Target: 

Netomnia

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Acquiror: 
Avenue Capital, Advencap

Advised Netomnia, a UK-based fibre operator, on its first large-scale fundraise of £123m 

29-Sep-21
Pending
$250 million
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Target: 

Universal Fiber Systems

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Acquiror: 
N/A

Advised Universal Fiber Systems, a leading supplier of solution-dyed fibers, on its $250mm Unitranche Term Loan financing

17-Sep-21
$750 million
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Target: 

MDC Texas Energy

United States flag
Acquiror: 
Maple Energy Holdings

Advised MDC Texas Energy in connection with its Chapter 11 bankruptcy and sale of substantially all of its oil and gas assets to Maple Energy Holdings pursuant to a plan of reorganization

09-Sep-21
$2.1 billion
United Kingdom flag
Target: 

easyJet plc

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Acquiror: 
N/A

Advising and acting as joint sponsor to UK-based easyJet plc, a leading low-cost European airline carrier, on its £1.2bn fully underwritten rights issue & $400m secured RCF

11-Jun-21
$248 million
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Target: 

My Alarm Center

United States flag
Acquiror: 
Ad Hoc Group of First Lien Lenders

Advised the Ad Hoc Group of First Lien Lenders on the pre-packaged Chapter 11 restructuring of My Alarm Center, a provider of security and smart home monitoring services

09-Jun-21
$310 million
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Target: 

Australian Unity Funds Management

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Acquiror: 
N/A

Advised Australian Unity Funds Management on a A$320m equity raising and A$80m cash liquidity offer for Australian Unity Healthcare Property Trust

31-Mar-21
$801 million
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Target: 

Assets of NPC International, a former national Wendy’s and Pizza Hut franchisee

United States flag
Acquiror: 
Flynn Restaurant Group and a consortium of existing Wendy’s franchisees

Advised the Company on its chapter 11 proceedings and $801mm sale through a § 363 process

18-Mar-21
$750 million
Canada flag
Target: 

Canopy Growth Corporation

United States flag
Acquiror: 
King Street Capital Management, L.P.

Advised Canopy Growth, a leading diversified cannabis company, on its US$750 million term loan financing with King Street Capital Management, L.P.

11-Mar-21
$2.1 billion
Australia flag
Target: 

Education Australia’s 40% Stake in IDP Education

Australia flag
Acquiror: 
Education Australia’s 38 University Shareholders

Advising ASX-listed IDP Education on the restructure of Education Australia’s 40% ownership stake in the business

11-Mar-21
$725 million
U.S.A., Australia flags
Target: 

Speedcast International Limited

United States flag
Acquiror: 
Centerbridge Partners L.P.

Advised the Ad Hoc Group of First Lien Lenders on the Chapter 11 restructuring of Speedcast International Limited (ASX:SDA)

25-Feb-21
$1.5 billion
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Target: 

Ascena Retail Group, Inc.

United States flag
Acquiror: 
Sycamore Partners

Advised the Ad Hoc Group of First-Lien Term Loan lenders of Ascena Retail Group, Inc. with respect to (i) negotiation of a restructuring support agreement, including a fully backstopped DIP and exit financing and (ii) a sale of Ann Taylor, LOFT and Lane Bryant as well as the intellectual property assets of the Justice and Catherine’s brands.

19-Feb-21
$33 million
U.S.A., U.K. flags
Target: 

Acacia Pharma Group plc

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Acquiror: 
N/A

Advised Acacia Pharma Group plc, a US headquartered commercial stage biopharmaceutical company incorporated in England and listed in Belgium, on its placing of 10m new ordinary shares at a price of €2.70 per share

09-Feb-21
Undisclosed
United States flag
Target: 

US Acute Care Solutions

United States flag
Acquiror: 
Apollo Hybrid Value Fund

Advising US Acute Care Solutions, the largest majority physician-owned emergency medicine practice in the United States, on its recapitalization and buyout of minority partner, Welsh Carson

01-Feb-21
$292 million
Canada flag
Target: 

Sunwing Airlines and Sunwing Vacations

Canada flag
Acquiror: 
Canada Enterprise Emergency Funding Corp.

Advised Sunwing, a leading Canadian travel company and leisure airline, on its C$375mm financing under the Large Employer Emergency Financing Facility (LEEFF) program administered by the Canada Enterprise Emergency Funding Corp. and overseen by the Government of Canada

20-Jan-21
$1.9 billion
United States flag
Target: 

Extraction Oil and Gas

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Acquiror: 
N/A

Advised the Official Committee of Unsecured Creditors on the in-court restructuring of Extraction Oil and Gas, Inc., an Exploration and Production company focused on the Wattenberg Field of the Denver-Julesburg Basin

31-Dec-20
$1.2 billion
United States flag
Target: 

Pacific Drilling

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Acquiror: 
N/A

Advised Pacific Drilling, an international provider of offshore drilling services, on its pre-arranged Chapter 11 restructuring

24-Nov-20
$1.5 billion
Canada flag
Target: 

Cirque du Soleil

U.S.A., Canada flags
Acquiror: 
Ad Hoc Group of Lenders

Advised the Company on its CCAA and Ch.15 proceedings and $1.5bn sale through a Sale and Investment Solicitation Process (SISP) 

23-Nov-20
$120 million
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Target: 

Greencore Group plc

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Acquiror: 
N/A

Advised Greencore Group plc, a leading UK manufacturer of convenience foods based in Ireland, on its £90mm non pre-emptive equity placing

19-Nov-20
$797 million
United States flag
Target: 

iQor Holdings Inc.

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Acquiror: 
N/A

Advised the ad-hoc Cross-Holder Group of lenders on the fully consensual Prepackaged Plan of Reorganization of iQor Holdings Inc., a business process outsourcing company

17-Nov-20
$497 million
United States flag
Target: 

Gannett Co., Inc.

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Acquiror: 
N/A

Advised Gannett Co., Inc., a news media and marketing solutions company, on the refinancing of ~$500mm of its term loan with convertible notes

13-Nov-20
$495 million
United States flag
Target: 

Libbey, Inc.

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Acquiror: 
N/A

Advised the Committee of Unsecured Creditors on the in-court restructuring of Libbey, Inc., a leading tableware manufacturer

13-Nov-20
$343 million
United States flag
Target: 

Revlon Consumer Products Corporation

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Acquiror: 
N/A

Advised Ad Hoc Group of Note Holders with respect to Revlon’s Exchange Offer

16-Oct-20
$430 million
United States flag
Target: 

Alert 360 (Central Security Group, Inc.)

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Acquiror: 
N/A

Advised the Ad Hoc Group of First Lien Lenders on the out-of-court restructuring of Alert 360 (Central Security Group, Inc.), a leading home-security provider

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