Akin Gump Advises Frontera Generation’s First Lien Lenders as Company’s Chapter 11 Plan Goes into Effect
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(Washington, D.C.) – Frontera Generation’s first amended Chapter 11 plan, confirmed by a judge in April, has now gone into effect. A team from Akin Gump advised the company’s first lien lenders through the restructuring process.
Frontera announced in February it had 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 would be converted into equity. The agreement called for the current term loan and revolving credit facility lenders to become Frontera’s new owners.
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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