New Chapter 15 Filing - Tervita Corporation
October 23, 2016
PETITION
Tervita Corporation
10/19/16 Recap: Canadian midstream waste management services provider to the E&P sector files Chapter 15 to help effectuate a debt-for-equity conversion pursuant to a September CBCA filing.
Jurisdiction: S.D. of New York
Capital Structure: CAD $325mm RCF (Toronto-Dominion Bank), $750mm TL (Cortlandt Capital Markets), CAD $200mm 9% '18 secured notes & $650mm 8% '18 secured notes (Wells Fargo), $299mm 9.75% '19 unsecured notes, $355mm 10.875% '18 unsecured notes (Delaware Trust), $308mm 11.875% '18 subordinated notes (Wilmington Savings Fund Society).
Company Professionals:
Legal: Latham & Watkins LLP (Mark Broude , Annemarie Reilly ) & Osler (Mark Wasserman ) & Fasken Martineau
Financial Advisor: Barclays Capital Inc. (George Mack, Gary Sultan, Caty Truei, Darshan Patel, Shamika Dighe)
Other Parties in Interest:
RCF Agent (The Toronto-Dominion Bank)
TL Agent (Cortlandt Capital Markets)
Secured Creditor Ad Hoc Committee
Unsecured Noteholder Ad Hoc Committee
Subordinated Noteholder Ad Hoc Committee
Wells Fargo as Secured Notes Agent
Delaware Trust
Wilmington Trust
Investors: Paulson & Co., Ares Capital, Angelo Gordon, Avenue Capital, Bain Capital Credit