Kirkland Advised Lenders to Archer Limited on Successful Refinancing and Recapitalisation of $600m Term Loan

Kirkland & Ellis advised the ad hoc group of lenders to Archer Limited, a Norwegian oilfield services company, on its successful refinancing and recapitalisation of its $600 million term loan. The transaction resulted in a new $260 million first lien facility, $200 million of new second lien Nordic bonds, conversion of its outstanding convertible bond to equity and a $100 million privately placed equity raise. 

The Kirkland team was led by restructuring partners Hannah Crawford and Sean Lacey and associate Wesley Zhang; capital markets partners Matthew Merkle and Deirdre Jones; and debt finance partners Kirsteen Nicol and Sarah Goodwin.