Practice Areas - Restructuring and Insolvency Law Firms and Lawyers
| Deal Date: | 11-05-2015 | Practice Area: | Restructuring and Insolvency |
| Deal Title: | Connacher Oil and Gas Plan of Arrangement Restructuring Facility | Industry: | Oil & Gas Producers |
| Description: |
Davis Polk advised the administrative agent under Connacher Oil and Gas Limited's first-lien credit agreement, in connection with Connacher's restructuring, including implementation of a Plan of Arrangement under the Canada Business Corporations Act, which involved, among other things, (i) amendments to the first-lien credit agreement to provide, among other things, incremental borrowings of the US dollar equivalent of CAD30 million, (ii) the exchange of approximately USD900 million of Connacher's second-lien notes for equity in the restructured company, (iii) the issuance by Connacher of USD35 million of new convertible second-lien notes and (iv) payoff of Connacher's asset-based revolving credit facility.
The Davis Polk restructuring team included partner Damian S. Schaible and associate Adam B. VanWagner.
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| Financial Center: | New York | Value: | 100.01-500.00 |
| Advised Party: | Insolvency Practitioner | Law Firm | Davis Polk |
| United States | United States | ||
| Classification: |
Debt Restructuring |
Lawyer | Damian S Schaible |
