Rachel Butt

After seeing some familiar names resurfacing (Anthology, City Brewing), we pored through LMEs done in the past decade to see how they fared. ~70% of the first LMEs end up in a restructuring/bankruptcy through 2021. That ratio thins out to 30% through 2024: https://t.co/UUDtZ5gQT4

Just how expensive are corporate bankruptcies? In an analysis by Segun Olakoyenikan, the top five companies that have filed or have ongoing Chapter 11 in 2024 have collectively racked up nearly $2bn in fees. Read more on @9finHQ: https://t.co/Ws2aDuZQE1

Speaking of repeat offenders... Anthology is again exploring restructuring paths, which will likely involve handing the keys to creditors who provided new money in last year's LME. Read more on @9finHQ: https://t.co/7LS7LC4hhS

Mitel Networks is weighing a bankruptcy filing that would hand control of the company to its lenders as soon as this month. More deets on @9finHQ: https://t.co/kfKASWlo70

Better Health's advisors found a workaround that allows the company to launch a LME on effectively the exact same terms as they had structured before the Fifth Circuit's decision on Serta. Read more on @9finHQ: https://t.co/R7pHlTDmUA by @maxfrumes

2025 was shaping up to be business as usual for the LME machine. But then the Fifth Circuit's decision on Serta Simmons and the Mitel state court case added more uncertainty to this year's outlook. Read more on @9finHQ: https://t.co/CK3zdCXkke with @maxfrumes & @MaxJReyes

Allen Media ended confidential talks with its creditors, according to @9finHQ sources. The TV network company, controlled by Byron Allen, has been considering new money and exchange offer, but it met pushback on the non- pro rata discount capture: https://t.co/9VtT5hYTSP

E.W. Scripps @SSP is considering a range of refinancing options, including potential accounts receivable securitization or amend & extend deals: https://t.co/UckwsUMcJZ with @ShubhamSahara18 @maxfrumes

Only a handful of the 36 liability management exercises (LMEs) tracked by @9finHQ this year have resulted in litigation. @MaxJReyes delves into why LMEs have become a game of calculated and often times unequal inclusivity: https://t.co/ryCAzcjlpe

Carlyle-backed Veritas is nearing a deal with its key creditors over a nearly par debt paydown. @9finHQ got the deets: https://t.co/3kRcEOVSlz with @buhlreports

Sycamore-backed Pure Fishing lined up a $750m first lien credit facility with lenders including Monarch Alternative Capital and Silver Point Finance, with proceeds to tackle its term loan and asset-backed loans. @9finHQ got the scoop @davidand_brooke: https://t.co/H3mgo8njWB