New Filing - Xtera Communications Inc.

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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 Filing - Erickson Inc.

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  • Erickson Inc.

  • 11/08/16 Recap: Portland-based aviation services company with ties to the oil and gas and defense industries files for bankruptcy to delever balance sheet pursuant to a prenegotiated bankruptcy agreement with its lenders. The Company seeks a $180mm DIP credit facility (with $60mm of new money) to fund operations over the course of the restructuring.
  • Jurisdiction: N.D. of Texas
  • Capital Structure: $140mm RCF (Wells Fargo), $355mm '20 senior secured notes (Wilmington Trust)    
  • Company Professionals:
    • Legal: Haynes & Boone LLP (Ian Peck, Kenric Kattner, Kourtney Lyda, Eli Columbus, Arsalan Muhammed)
    • Financial Advisor: Alvarez & Marsal LLC (Darrick Martin, Holden Bixler)
    • Investment Banker: Imperial Capital (Chris Shepard)
    • Claims Agent: KCC (*click on company name for docket)
  • Other Parties in Interest:
    • Ad Hoc Group of Senior Secured Noteholders
      • Legal: Akin Gump (Scott Alberino, Brad Kahn, Marty Brimmage)
      • Investment Banker: Houlihan (Matthew Neiman, Andrew Morrow, Geoffrey Coutts)
    • DIP Revolving Agent and ABL Agent (Wells Fargo)
      • Legal: Goldberg Kohn Ltd. (Randall Klein) & (local) K&L Gates LLP (David Weitman)
    • DIP Lenders: (Wayzata Investment Partners and MHR)
    • Wilmington Trust
      • Legal: Seyfarth Shaw LLP (Christopher Harney, Bret Harper)

Updated 12/30/16