Gordian Group advised second-lien lenders in connection with the Company’s restructuring.
Case Study
The Newark Group
CLIENT: Newark Group Secured Credit-linked Term Loan Lenders (“CLTL”)
Services
Restructuring & Debt AdvisoryProfessionals
Business Profiles
Situation
Recycled Paperboard Products is an integrated global producer of 100% recycled paperboard and paperboard products. The company had to restructure its $315 million in debt obligations.
Engagement
Gordian Group was engaged by the Company’s CLTL Lenders to assist in negotiating with respect to the Company’s restructuring and prepackaged bankruptcy filing.
Outcome
The Company’s Prepackaged Plan of Reorganization contemplates a complete paydown in cash at par of the CLTL Lenders.