Recent Transactions

09-Sep-03
$3.6 billion
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Target: 

AboveNet, Inc. (Metromedia Fiber Network, Inc.)

Advised Metromedia Fiber Network (now renamed AboveNet), a leading telecommunications company, in connection with its chapter 11 proceedings, including its ultimate standalone financial restructuring

19-Sep-03
$2.8 billion
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Target: 

Loral Space and Communications Ltd.

Advised Loral with its Chapter 11 proceedings. Advised on the sale of its North American Fixed Satellite Services assets to Intelsat for $1.1 billion

23-Jan-04
$155 million
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Target: 

Cable & Wireless

Advised Cable & Wireless plc in connection with the Chapter 11 proceedings of its US subsidiary, Cable & Wireless America, including its sale to Savvis Communications for $155 million

13-Feb-04
$631 million
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Target: 

Allegiance Telecom, Inc.

Advised Allegiance Telecom, a telecommunications products and services provider, in connection with its Chapter 11 proceedings, including its sale to XO Communications, Inc

17-May-04
$400 million
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Target: 

Maxxim Medical

Advised specialty medical products company, Maxxim Medical, in connection with its Chapter 11 proceedings and sale to Medline and others

02-Aug-04
$771 million
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Target: 

Pegasus Satellite

Advised the Unsecured Creditors of Pegasus Satellite on the sale of the debtor to DirecTV

20-Dec-04
$596 million
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Target: 

CornerStone Propane, L.P.

Advised CornerStone Propane L.P., one of the nation's largest propane marketers, in connection with its Chapter 11 proceedings, which resulted in a successful stand-alone restructuring

22-Apr-05
$NA
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Target: 

Pension Benefit Guaranty Corporation

Advised the Pension Benefit Guaranty Corporation (PBGC) in United Airlines' bankruptcy proceedings. The PBGC insures the defined benefit pension plans of United Airlines and has asserted a $9.8 billion unfunded pension liability claim against the company

16-May-05
$315 million
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Target: 

Evergreen International Aviation

Advised Evergreen on refinancing alternatives for its maturing bank facility, resulting in the successful issuance of $215 million of high yield notes and execution of a new $100 million credit facility

17-May-05
$NA
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Target: 

General Motors

Advised General Motors in connection with the Chapter 11 of Collins & Aikman, a significant supplier to GM

19-May-05
$7.2 billion
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Target: 

America West Holdings

Advised America West Holdings in connection with its merger with US Airways Group, which emerged from Chapter 11 as part of the transaction

07-Jun-05
$250 million
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Target: 

Monsanto

Advised Monsanto in connection with Solutia’s bankruptcy proceedings

15-Sep-05
$NA
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Target: 

Delta Air Lines

Advised Delta Air Lines in connection with strategic issues relating to its Chapter 11 proceedings

08-Oct-05
$NA
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Target: 

General Motors

Advised General Motors in connection with the Chapter 11 of Delphi, its largest supplier and former subsidiary

17-Oct-05
$16.8 billion
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Target: 

Refco

Acted as the exclusive financial advisor to Refco Inc. in connection with its Chapter 11 proceedings which included the sale of substantially all of the assets of Refco's regulated commodities futures business to Man Financial for $1.2 billion

15-Dec-05
$4.5 billion
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Target: 

Drax Group Limited

Advised bondholders of Drax Group Limited on the refinancing & listing of, and possible offers for, the company. On 15-Dec-05, Drax Group plc was successfully listed on the London Stock Exchange

29-Jan-07
$900 million
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Target: 

Eggborough CTA Bonds

United Kingdom flag
Acquiror: 
Ampere plc (a newly formed company)

Advised an ad hoc committee of bondholders representing over 70% of the debt in Eggborough Power Limited, a UK power station, on (a) the formation of a new company for the purpose of acquiring and holding a controlling interest in the Eggborough CTA Bonds and (b) an associated US$600m financing. The Eggborough CTA Bonds include an option to purchase Eggborough power station in March 2010

07-Mar-08
$1.5 billion
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Target: 

Ambac Financial Group, Inc.

Advised a consortium of leading global financial institutions and investors, including but not limited to Banc of America Securities LLC; Citigroup Global Markets Inc.; Dresdner Kleinwort Securities LLC; Keefe, Bruyette & Woods, Inc.; and UBS Securities LLC, on its participation in a recapitalization of Ambac Financial Group, Inc.

19-Mar-09
$349 million
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Target: 

Inchcape plc

Provided financial advice to Inchcape, the leading independent international automotive retailer, on its assessment of funding and strategic options, resulting in a significant rights issue to strengthen the balance sheet

23-Mar-09
$NA
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Target: 

BearingPoint, Inc.

flag not available
Acquiror: 
Various

Advised BearingPoint, Inc. on the sale of substantially all of its assets, pursuant to a Section 363 process

29-Apr-09
$NA
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Target: 

US Shipping Partners L.P.

Advised US Shipping Partners L.P. in connection with its pre-arranged Chapter 11 proceedings

30-Apr-09
$NA
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Target: 

Chrysler LLC

Advised Chrysler in connection with the chapter 11 proceedings to effectuate the sale of substantially all of its operating assets and certain liabilities to a newly created entity that will be jointly owned by Fiat S.p.A., the VEBA Trust (responsible for the healthcare benefits of current and former employees of Chrysler), the US Treasury and the Canadian government

01-May-09
$65 million
Singapore flag
Target: 

euNetworks Group Limited

Advised euNetworks Group Ltd, a Singapore listed operator of a fibre telecommunications network in Europe, on a repurchase at a discount of the majority of its outstanding convertible bonds, financed by a placement and rights issue

04-May-09
$NA
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Target: 

Constar International Inc.

Advised Constar International Inc. in connection with its pre-arranged Chapter 11 proceedings

16-Jul-09
$NA
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Target: 

Pension Trustees of Galiform PLC

Advised the Pension Trustees of the Galiform PLC Defined Benefit Pension Scheme to negotiate a revised schedule of payments to fund its deficit

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