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Hybrid Capital & Special Situations

Our multidisciplinary team counsels sponsors, investors, issuers and creditors in connection with a broad range of sophisticated and bespoke debt, equity and hybrid solutions across the capital structure. Our group provides comprehensive and tailored advice to clients informed by decades of experience creating cutting-edge alternative capital solutions.

Firm News

Paul, Weiss Appoints Tracey Zaccone and Austin Witt as Heads, Hybrid Capital & Special Situations

Paul, Weiss has appointed partner Tracey Zaccone as Head of Hybrid Capital and partner Austin Witt as Head of Special Situations.

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Client News

Apollo and KKR Commit to Invest in Citrix Preferred Stock

Paul, Weiss advised funds managed by Apollo Global Management and KKR as part of a consortium providing a $2.5 billion preferred equity commitment to support the $16.5 billion acquisition of Citrix by affiliates of Vista Equity Partners and Evergreen Coast Capital (an affiliate of Elliott Investment Management).

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Client News

Centerbridge Partners and Oaktree Capital Management Lead $1.25 Billion OTG Management Financing

Paul, Weiss advised Centerbridge Partners and Oaktree Capital Management in leading a first lien senior secured credit facility for OTG Management, an owner and operator of restaurants and retail in airports.

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Client News

Apollo Invests in W.R. Grace

Paul, Weiss advised funds managed by Apollo Global Management affiliates in their preferred stock issuance in connection with Standard Industries Holdings Inc.’s $7 billion buyout of W.R. Grace & Co., a Maryland-based specialty chemicals company.

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Client News

David’s Bridal Closes $70 Million Capital Investment

Paul, Weiss advised David’s Bridal, LLC, the nation’s leading bridal and special occasion authority, in securing a $70 million term loan provided by CPPIB Credit Investments Inc., a subsidiary of Canada Pension Plan Investment Board.

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Client News

Apollo, Knighthead and Certares Sponsor Plan to Fund Hertz’s Exit From Bankruptcy

Paul, Weiss is advising funds and accounts managed by affiliates of Apollo Capital Management, L.P. in a joint proposal, alongside Knighthead Capital Management LLC and Certares Opportunities LLC, to sponsor Hertz Global Holdings, Inc.’s chapter 11 plan of reorganization and to fund Hertz’s and its affiliates’ exit from bankruptcy.

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Client News

Canopy Growth Raises $750 Million Term Loan Financing

Paul, Weiss advised Canopy Growth Corporation in its credit agreement with funds advised by King Street Capital Management, L.P. Under the terms of the agreement, Canopy Growth has raised a $750 million senior secured term loan, and has the ability to obtain up to an additional $500 million of incremental senior secured debt.

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Client News

Apollo Funds to Acquire Verizon Media in $5 Billion Deal

Paul, Weiss is advising funds managed by affiliates of Apollo Global Management in their $5 billion acquisition of Verizon Media, which includes iconic brands such as Yahoo and AOL.

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Client News

Oaktree Capital Closes Ashford Hospitality Financing

Paul, Weiss advised funds managed by Oaktree Capital Management, L.P. in its $200 million senior secured term loan to Ashford Hospitality Trust, Inc., a real estate investment trust investing predominantly in upper upscale, full-service hotels.

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Client News

Weatherford Completes $500 Million Refinancing

Paul, Weiss is representing Weatherford International plc and certain subsidiaries in the refinancing of its asset-based lending facility through the issuance of $500 million of 8.75% senior secured first lien notes maturing on September 1, 2024.

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Client News

Apollo Invests in Expedia Group

Paul, Weiss represented funds managed by affiliates of Apollo Global Management, Inc. in their investment, alongside Silver Lake Partners, in Expedia Group, an online travel shopping company for consumer and small business travel.

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Client News

Paul, Weiss Advises Tricon in PIPE Investment by Blackstone-led Syndicate

Paul, Weiss advised Tricon Residential Inc., a North American rental housing company, in a $300 million (C$395 million) preferred equity investment in the company by a syndicate of investors led by Blackstone Real Estate Income Trust, Inc. (BREIT).

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Client News

Agilysys Announces Convertible Preferred Investment by MAK Capital

Paul, Weiss advised a special transaction committee of independent directors of Agilysys, Inc. in connection with an investment in the company by MAK Capital One, LLC, an affiliate of the company’s board chairman.

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Client News

Ares Management and Oaktree Capital Complete Preferred Equity Investment in Infrastructure and Energy Alternatives

Deploying two separate teams, Paul, Weiss advised funds managed by Ares Management Corporation and Oaktree Capital Management LP in their respective purchases of an aggregate of $180 million of a new series of preferred stock of Infrastructure and Energy Alternatives, Inc.

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