Centerbridge Partners and Oaktree Capital Management Lead $1.25 Billion OTG Management Financing

Paul, Weiss advised Centerbridge Partners and Oaktree Capital Management in leading a first lien senior secured credit facility for OTG Management, an owner and operator of restaurants and retail in airports. The facility, which consists of $1.05 billion in closing-date term loans and $200 million in delayed-draw term loans, will provide OTG with liquidity and flexibility, as well as additional committed capital to continue technological innovation, development of new markets, dining concepts and locations in airports.

The Paul, Weiss team included, among others, corporate partner Robert Zochowski and counsel Mikhel Schecter, Jason Tyler, Gabriella Toossi and Philip Heimowitz; restructuring partners Brian Bolin and Paul Basta, and counsel Joseph Graham; tax partner David Mayo; and litigation partner Michele Hirshman.