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"Particularly renowned for…representing second-lien lenders and second-place debt-holders" – Chambers USA

Bracewell attorneys representing clients in restructuring-related second lien and mezzanine financing matters combine the experience of our financial restructuring, energy, acquisition finance, syndicated lending, second lien and subordinated lending, debt and capital markets, cross-border finance, and complex leasing and asset-based lending teams.

Financial sponsors, money center lenders and investment banks regularly retain us to handle their most complex private and public debt financings and to advise them on complex inter-lender negotiations in connection with multi-tiered financings. We regularly advise second lien and mezzanine secured lender groups in restructurings and consent solicitations (such as DURA Automotive, Remy International, INTERMET, and J.L. French Automotive), leveraged buyouts, recapitalizations, and change-of-control financings.

Recent matters in Bracewell attorneys have represented major constituents include:

  • Counsel to the second lien debt lenders of Ahern Rentals, including its chapter 11 proceeding
  • Counsel to the second lien lenders of CCS Medical
  • Represented a significant equity holder of reorganized Crescent Resources LLC in connection with the negotiation and documentation of first and second lien exit financing contemplated under Crescent's plan of reorganization
  • Counsel to the second lien lenders in international insolvency proceedings for DURA Automotive, the world's largest independent designer and manufacturer of driver control systems
  • Counsel to holders of second lien debt in the chapter 11 restructuring of J.L. French Automotive Castings, Inc., a manufacturer of automotive parts
  • Counsel to the 8.5% secured notes of the Mashantucket Pequot Tribe (Foxwoods Casino)
  • Counsel to the second lien lender of the Mohegan Tribal Gaming Authority (Mohegan Sun Casino)
  • Counsel to the second lien lenders of Pliant, a leading packaging company
  • Counsel to ad hoc committee of second lienholders in Remy International
  • Counsel to the second lien lenders in insolvency proceedings for Technical Olympic (TOUSA), a leading home builder and financial services company
  • Counsel to the second lien lenders in Trico Marine
  • Counsel to the second lien lenders of U.S. Shipping Partners
  • Counsel to the second lien lender of Vertis in its prepackaged chapter 11 restructuring

Be sure to visit Basis Points Bracewell’s blog providing context and offering fresh (if irreverent) commentary on developments in today's restructuring, distressed debt, and new investment markets.