New Filing: Key Energy Services Inc.
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
- ABL Admin Agent (BofA):
Updated 12/30/16