Key Energy Services Inc.

• 10/24/16 Recap: Oilfield services operator filed prepackaged plan to delever its balance sheet by 75% unsecured debt-for-equity swap subject to dilutive rights offering.
• Jurisdiction: D. of Delaware
• Capital Structure: $100mm '20 4.5% RCF (Wells Fargo), $315mm '20 9.25% TL (Cortland Capital Markets), $675mm '21 6.75% senior unsecured notes.     
• Company Professionals:
  • Legal: Sidley Austin LLP (James Conlan, Larry Nyhan, Jeffrey Bjork, Andrew O'Neill, Christina Craige, John Hutchinson) & (local) Young Conaway (Robert Brady, Edwin Harron, Ryan Bartley)
  • Financial Advisor: Alvarez & Marsal LLC (Ed Mosley)
  • Investment Banker: PJT Partners (Mike Genereux)
  • Claims Agent: Epiq Bankruptcy Solutions LLC
• Other Parties in Interest:
  • ABL Admin Agent (BofA):
    • Legal: Latham & Watkins (Richard Levy, James Ktsanes) & (local) Reed Smith (Kurt Gwynne, Emily Devan)
  • Term Lenders: (BlueMountain Capital Management LLC, TPG Specialty Lending Inc., Tennenbaum Capital Partners)
    • Legal: Davis Polk (Damian Schaible, Eli Vonnegut, Angela Libby) & (local) Richards Layton (Mark Collins, Andrew Dean)
    • Investment Banker: Evercore
  • Supporting Unsecured Noteholders:
    • Legal: Sullivan & Cromwell (Michael Torkin, David Jakus, Lee Parnes)
    • Investment Bank: Houlihan Lokey
  • Supporting Noteholders & Supporting Term Lenders
    • Legal: Cleary Gottlieb (Sean O'Neal, Humayan Khalid, Matthew Rappoport) & (local) Morris Nichols (Robert Dehney, Eric Schwartz, Andrew Remming, Andrew Roth-Moore)
  • Wells Fargo, as TL Agent
    • Legal: Greenberg Traurig
  • Unsecured Noteholders: Silver Point Capital LP, Contrarian Capital Management, Scoggin Capital Management, Platinum Equity Advisors, Quantum Partners, Goldman Sachs Global Special Situations Group

Updated 12/30/16