Akin Gump Advises First Lien Lenders to Frontera Holdings as Company Enters into Restructuring Support Agreement
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(Washington, D.C.) – Frontera Holdings LLC announced today that it has entered into a Restructuring Support Agreement with approximately 92 percent of its first lien lenders, 100 percent of its noteholders and its 100 percent equity holder, through which most of the company’s debt will be converted into equity. The current term loan and revolving credit facility lenders will become Frontera’s new owners.
A team from Akin Gump advised a group of the first lien lenders.
To advance this process, Frontera has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code before the U.S. Bankruptcy Court for the Southern District of Texas.
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The Akin Gump team advising the lenders was led by financial restructuring partner Scott Alberino. He was joined by Dan Fisher, leader of the firm’s integrated special situations group, corporate partner Alan J. Feld, debt finance partner Chad Nichols, financial restructuring counsel Kate Doorley and tax partner Alison Chen.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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