Medical Solutions, one of the nation’s leading healthcare workforce solutions partners, in a drop-down financing and exchange transaction designed to strengthen the company’s financial foundation and support its long-term growth strategy. The comprehensive transactions included a $125 million new money component, extended maturities across Medical Solution’s capital structure, exchanged nearly $1.4 billion of existing debt, and resulted in approximately $200 million of discount capture.
Quest Software, a global leader in data management, identity security, and platform modernization, in a drop-down and double-dip financing that included a $350 million new term loan, $380 million revolving credit facility, exchanges of approximately $3.5 billion of existing debt, and resulted in over $200 million of discount capture.
RSA, a cybersecurity and fraud prevention technology company on an uptier and new money transaction that substantially de-levered RSA’s balance sheet and strengthened its liquidity position, capturing a record-breaking $456 million in aggregate debt discount — equal to approximately 33% of RSA’s total pre-transaction debt — in addition to raising $135 million in new money financing.
National Resilience, a leading a North American contract development and manufacturing organization (CDMO), in a comprehensive out-of-court restructuring of certain lease obligations and a corresponding capital raise of $825 million of new money from Oak Hill Advisors and its co-investors. The comprehensive transactions provide National Resilience with capital to pay down existing debt and fund capital expenditures to build out manufacturing capabilities to support its diverse customer base.
Team, Inc. (NYSE: TISI) in the private placement of preferred stock and warrants to affiliates of Stellex Capital Management LLC for up to $105 million of proceeds.
Team, Inc. (NYSE: TISI), a global provider of integrated, digitally enabled asset performance assurance and optimization solutions, in a refinancing of certain debt under its existing first lien asset based revolving credit facility and first lien term loan facility with new $225 million first lien and refinanced $107 million second lien term loan facilities.
