Sunnova Energy International Inc. — Representation of Sunnova Energy International Inc. (NYSE: NOVA) and over 275 affiliates in their comprehensive restructuring of approximately $9 billion of corporate debt and securitized obligations. Sunnova is among the nation’s largest installers and servicers of residential solar systems, with approximately 440,000 residential solar customers across the country and in Puerto Rico. Sunnova also manages and services 26 securitization trusts holding $7 billion of homeowner contracts and leases. Certain of Sunnova’s corporate entities are utilizing Chapter 11 to facilitate value-maximizing transactions as part of their enterprise-wide restructuring.
MultiPlan Corporation — Representation of MultiPlan Corporation (MultiPlan) (NYSE: MPLN), a leading provider of healthcare technology and data solutions, in a comprehensive refinancing of its debt capital structure through a series of exchange transactions. The transactions launched following the execution of a transaction support agreement with certain ad hoc groups of lenders collectively owning approximately 78% of MultiPlan’s outstanding debt. Over 99% of MultiPlan’s debt holders across four tranches of debt, including a revolving credit facility, term loan, and secured, unsecured, and convertible PIK notes, participated in the transactions, which extended maturities on approximately $4.5 billion of funded debt and positioned MultiPlan for more sustainable long-term growth. The exchange transactions were announced on December 24, 2024, and closed on January 30, 2025.
