New Filing - Xtera Communications Inc.

Xtera Communications Inc.

• 11/15/16 Recap: Texas-based publicly-traded provider of high-capacity optical transport systems for telecom service providers filed for bankruptcy with intent to sell the company to Neptune Bidco, as DIP Lender and stalking horse bidder (DIP = $7.4mm, Bid = $10mm inclusive of DIP amount).
• Jurisdiction: D. of Delaware
• Capital Structure: $8.2mm debt (Square 1 Bank), $10mm TL-A & $2mm TL-B (Horizon Technology Finance Corporation)     
• Company Professionals:
  • Legal: DLA Piper LLP (Thomas Califano, Jamila Willis, Stuart Brown, Maris Kandestin)
  • Investment Banker: Cowen & Company (Lorie Beers)
  • Claims Agent: Epiq Bankruptcy Solutions LLC (*click on company name for docket)
• Other Parties in Interest:
  • DIP Lender: HIG European Capital Partners
    • Legal: Allen & Overy LLP (Joseph Badtke-Berkow, Daniel Guyder)
  • Horizon Technology Finance Corporation
    • Legal: K&L Gates LLP (A. Lee Hogewood, Steven Caponi, Charles A. Dale III, Margaret Westbrook)
  • Wilmington Trust
    • Legal: Kaye Scholer LLP (Seth Kleinman, Michael Messersmith, Sarah Gryll) & (local) Morris Nichols (Andrew Roth-Moore, Curtis Miller)
  • Unsecured Creditors Committee
    • Legal: Lowenstein Sandler LLP (David Banker) & (local) Bayard PA (Justin Alberto)
    • Financial Advisor: BDO USA LLP (David Berliner)

Updated 12/1/16.

New Chapter 15 Filing - Tervita Corporation

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)
    • Legal: Norton Rose Fulbright (Howard Gorman)
  • TL Agent (Cortlandt Capital Markets)
    • Legal: Kaye Scholer LLP (Seth Kleinman)
    • Financial Advisor: FTI Consulting (Deryck Helkaa, Dustin Oliver, Craig Munro)
  • Secured Creditor Ad Hoc Committee
    • Legal: Goodmans (Robert Chadwick, Chris Armstrong) & Paul Weiss (Andrew Rosenberg, Alice Belisle Eaton, Kevin O'Neill)
    • Financial Advisor: Houlihan Lokey (Devin Shanahan, Michael Lin, Alexander Felsberg)
  • Unsecured Noteholder Ad Hoc Committee
    • Legal: Bennett Jones (Kevin Zych, Sean Sweig, Kristopher Hanc, Chris Simard) & David Polk (Damian Schaible, Steven Szanzer)
    • Financial Advisor: Moelis (Barak Klein, Brian Bacal, James Schiro, Conor McGrath, Larry Liao)
  • Subordinated Noteholder Ad Hoc Committee
    • Legal: Davies Ward (Jay Swartz, Robin Schwill) & Fried Frank (Gary Kaplan, Cedrick Mendoza-Tolentino)
    • Financial Advisor: PJT Partners (Joshua Abramson, Brian Benvenisty, Mobi Ahmed)
  • Wells Fargo as Secured Notes Agent
    • Legal: McCarthy Tetrault LLP (Sean Collins) & Reed Smith LLP (Eric Schaffer, Luke Sizemore)
  • Delaware Trust
    • Legal: Cassels Brock (Ryan Jacobs) & Ropes & Gray LLP (Mark Somerstein, Patricia Chen)
  • Wilmington Trust
    • Legal: Willkie Farr (John Longmire, Gabriel Brunswick)
  • Investors: Paulson & Co., Ares Capital, Angelo Gordon, Avenue Capital, Bain Capital Credit