Akin Gump Advises Constellis Through Completion of Debt Deleveraging and Recapitalization
Contact:
(New York) – Constellis, a leading provider of essential risk management and mission support services to government and commercial customers worldwide, announced today the successful completion of a comprehensive debt deleveraging and recapitalization transaction with consent from 100 percent of its term loan and revolving lenders. A team from Akin Gump advised Constellis through the process.
As a result of the debt-for-debt and debt-for-equity exchanges, Constellis has significantly strengthened its balance sheet, reducing its debt by approximately $1.1 billion and annual cash interest payments by up to $90 million, while adding up to $50 million in new capital to support operations.
The Akin Gump corporate team advising Constellis was led by partner Gerald Brant and included partners Jaisohn Im and Jesse Brush, counsel Yehuda Raskin and Clare Joyce, and associates Brittany Harrison, Edward Cohen, Sanzana Faroque and Andrew McDonough.
The firm’s financial restructuring team was led by partners Ira Dizengoff, Phil Dublin and Brad Kahn. They were joined by senior counsel Kevin Eide, counsel Kevin Zuzolo, and associates Caitlin Griffin, Brooks Barker and Matthew Breen.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 1,000 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East. Founded in 1945, the firm is proudly celebrating its 75th anniversary in 2020. #AkinGump75
# # #
People Mentioned in This News
