Lawyers
Restructuring partner Brian Bolin spoke with Petition for its retrospective on the 2024 restructuring market. In “RX Pros Weigh In. Part 1.,” published on December 18, Brian discusses the emergence of the “offered to all” version of the non-pro rata uptier transaction, in which issuers follow a majority lender group debt exchange with a second-step exchange to minority lenders, as a major theme this year. “In some cases issuers have been able to obtain nearly 100% participation in the second-step exchange, allowing them to maximize debt discount, extend maturities, minimize litigation risk and ultimately avoid (or at least delay) the need for a full-blown restructuring,” Brian says.
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