Anastasia Donde
Silver Point, Cerberus and Anschutz Investment Company will see their $1 billion junior debt stake in the bankrupt oil company convert to equity, while unsecured bondholders are still in negotiations over repayment with the KKR-backed company.
The US investment banking advisory firm has hired Daniel Aronson from Lazard for its restructuring and debt advisory business, opening a Chicago office in tandem.
.jpg?id=19327353638 "Madison Realty closes $124m East Village loan")
The money will be used to acquire a 15-building portfolio of family-owned properties in Manhattan.
.jpg "Monroe Capital tosses senior credit into salad company")
The Chicago-based lender provided $12 million in financing to back private equity sponsored Saladworks.
.jpg "Goldman Sachs BDC tacks $15m onto solar company line")
Conergy’s original credit facility was arranged last year by Deutsche Bank with $60m in funding from Tennenbaum Capital Partners.
The board of TICC Capital Corp has rejected a rival bid for control of the firm from TPG Specialty Lending. The BDC’s board is still recommending the switch from its own underperforming investment advisor to Benefit Street Partners, which was announced last month.
The FSIC IV vehicle plans to offer 250 million shares at $10.60 per share to raise up to $2.65 billion.
The Connecticut investment firm’s target for its Gramercy Distressed Opportunities Fund III is over three times larger than the $305 million raised by the predecessor vehicle.
.jpg?id=12885371226 "NXT Capital moves waste transport acquisition")
The Chicago lender provided $195 million in senior secured lines toward the refinancing of PE-backed Custom Ecology and its acquisition of another waste management company.
The two alternative investment firms have reportedly submitted bids for the $11 billion GE Capital Commercial Distribution Finance business as GE sells off the rest of its lending interests.