Trinseo, a Double Dip "Pari-Plus" Case Study
Today, we are going to look at another variation of the double-dip: the pari-plus transaction by analyzing the fascinating restructuring of Trinseo.
Double-Dip Explained Simple
Today’s restructuring world is highly complex. Uptier and Dropdown were the first versions of liability management transactions we saw. In the past few years, we have seen a new breakthrough in liability management transactions: double-dips.
What is Synthetic PIK?
The evolution of the private credit industry, the creation of the synthetic PIK, and the implications of this “creative” financing structure
Pluralsight, the Restructuring Deal of 2024 (Special 100th Edition)
A cocktail of restructuring, private equity, and private credit. Let's enjoy the 100th Pari Passu Edition
WeWork Deep Dive
At its height in 2019, the company commanded a $47bn valuation and was dubbed the world’s most valuable unicorn (i.e., a private company worth more than $1bn). Four years later, WeWork filed for Ch. 11 bankruptcy with its founder-CEO ousted and a business model proven primarily to incinerate cash.
Archive
Cooperation Agreements, Overview and Effectiveness in Restructuring Situations
Today, we will shift focus to how creditors have responded to LMEs. Until now, creditors had no choice but to watch sophisticated sponsors handpick a select few who would receive preferential treatment. Distrust ran through messy, unorganized capital structures. But what if creditors could defend themselves as a unified group?
