Kirkland Advises Ad Hoc Group of Creditors on Successful Consensual Recapitalisation of Petra Diamonds

Kirkland & Ellis advised the ad hoc group of creditors to Petra Diamonds, the London-listed diamond mining company, on its comprehensive recapitalisation transaction.

The fully consensual transaction involved a $25 million new money equity capital investment in Petra and extensions of the maturities of the company’s ZAR 1.75 billion revolving credit facilities and $229 million senior secured second lien notes to December 2029 and March 2030, respectively. The transaction closed on November 28, 2025.

The Kirkland team included restructuring lawyers Hannah Crawford, Dan Stathis and Magdalena Wistuba; and capital markets lawyers Cedric Van den Borren and Connor Anear.