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CFO Corner With Thryv Holdings’ Paul Rouse

Global Finance

This involved restructuring the former company, setting up the right platform, and securing the proper capital structure. Thryv was formed in a 2017 merger between Dex Media, a Yellow Pages publisher that restructured its debt in 2016, and YP Holdings, another Yellow Pages publisher. That was really challenging.

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How to Avoid Chapter 22 in Restructuring Work for Energy Companies

Value Scope

Commodities, including oil and gas, are far more volatile than other asset classes like fixed-income and equities. It came out of Chapter 11 in 2017 with nearly $3 billion in new debt. The cash flows we isolate are tested for their ability to support debt, the new capital structure of the restructured firm. Conclusion.

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Infrastructure Investment Banking: Definitions, Deals, and a Dizzying Diversity of Verticals

Brian DeChesare

Infrastructure Investment Banking Definition: In infrastructure investment banking, bankers advise companies in the data center, renewables, transportation, utilities, and energy storage/transportation markets on equity and debt issuances, asset deals, and mergers and acquisitions. based REITs record Depreciation).

Banking 59
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Del. Supreme Ct. Arguments Go Over Operative Reality, Expert Credibility, and Standard of Review

Appraisal Rights

For example, in 2017 case SWS , changes to SWS’s capital structure as the result of cancelling debt in exchange for equity were part of the “operative reality” because the exercise of the warrants and debt cancellation was a known element of value as of the Merger Date and was not conditioned or contingent on the merger.

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Leveraged Buyouts

Andrew Stolz

The buyer (the “sponsor”) raises debt and equity to acquire the target. It borrows the majority of the purchase price and contributes proportionately small equity investment. The LBO ratios can go to 90% of debt and 10% of equity. A private equity firm aims a target return of around 20 – 25% (WallStreetMojo, 2018).

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What are Debt Warrants and How Do They Work for Startups?

Lighter Capital

A debt warrant is an agreement in which a lender has a right to buy equity in the future at a price established when the warrant was issued or in the next round. This high upside potential — along with high risk — is why venture debt deals often feature stock warrants as part of their “risk capitalstructure. Let's dive in.

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Do Hostile Restructurings Mean a New Identity for the “Official Committee” in Bankruptcies?

Reynolds Holding

6] Similarly, J.Crew’s private equity owners transferred $250 million of intellectual property into an unrestricted subsidiary, freeing up assets that they turned around and pledged as collateral to borrow even more. [7] 18] Certain features of modern-day distressed capital structures exacerbate this problem.