Sean Czarnecki

2 months ago | pitchbook.com | Sean Czarnecki

The preferred shares of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) have reached highs not seen in years on rising optimism that the incoming Trump administration may release the government sponsored entities (GSEs) from conservatorship, but market sources caution that move is fraught with complications.

Nov 18, 2024 | pitchbook.com | Sean Czarnecki

Bain Capital LP has finished fundraising for Global Special Situations Fund II, bringing total commitments for the fund to $5.7 billion, according to a statement from the private investment firm. The firm added that its total capital base for its special situations strategy also includes an additional $3.3 billion raised by its Special Situations Asia and Europe regional funds.

Sep 6, 2024 | pitchbook.com | Sean Czarnecki

Creditors to OnTrac, fka LaserShip, have organized into two groups bracing for a liability management exercise, or LME, with a potential third group reaching out to law firms to explore their options, according to market sources. These sources said that the majority creditor group, represented by Gibson Dunn & Crutcher LLP, is currently in negotiations with OnTrac under a non-disclosure agreement.

Jul 30, 2024 | pitchbook.com | Sean Czarnecki

While liability management exercises (LMEs) have allowed companies to stave off bankruptcy, a majority of restructuring and turnaround professionals believe these maneuvers over the past 12 months did not provide the necessary runway to enact an operational overhaul, according to a survey by global consulting firm AlixPartners.

May 16, 2024 | pitchbook.com | Sean Czarnecki

As AMC Entertainment Holdings Inc prioritizes deleveraging its balance sheet, creditors are bracing for aggressive maneuvers from the company, including a possible liability management transaction (LMT), after it chose to not renew its revolver in April, according to market sources. These sources said they believe it is not a matter of if AMC will undertake an LMT — it is a matter of when. AMC’s revolver had a unique provision that could have blocked an LMT, according to market sources.