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ProfessionalsPaul L. Sandler

Paul L. Sandler
Partner

Tel: +1-212-373-3438
Fax: +1-212-492-0438
psandler@paulweiss.com

+1-212-373-3438
New York

1285 Avenue of the Americas
New York, NY 10019-6064
Fax: +1-212-492-0438

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A partner in the Finance Group and a member of the Hybrid Capital & Special Situations Group, Paul advises creditors, borrowers, issuers, investment funds and sponsors in a range of restructurings and financing transactions. Paul particularly focuses on advising clients on distressed transactions and structured mezzanine financings, including preferred stock issuances.

EXPERIENCE

Paul’s experience includes:

  • Affiliates of Apollo Global Management in connection with financing the acquisitions of CardenasSmart StartThe New Home Company and Tony’s Fresh Market, among others
  • An ad hoc group of unsecured noteholders of Service King, a national operator of auto body collision repair facilities, in connection with the company’s recapitalization
  • Funds managed by Apollo Global Management, Inc., alongside other investors, in connection with a $2.5 billion preferred equity issuance commitment to support the acquisition of Citrix
  • Funds and accounts managed by Apollo Capital Management, as a plan sponsor (alongside Knighthead Capital Management and Certares Opportunities) in Hertz Global Holdings, Inc.’s chapter 11 plan of reorganization, which funded the company’s exit from bankruptcy
  • Brookfield Asset Management and Simon Property Group in their acquisition of certain assets of J.C. Penney Company, Inc., including the $520 million takeback first lien credit agreement, in connection with J.C. Penney’s chapter 11 case
  • Canopy Growth Corporation, a publicly traded leading cannabis products company, in its $750 million senior secured term loan, provided by funds advised by King Street Capital Management, L.P., which also provides for up to an additional $500 million of incremental senior secured debt
  • Weatherford International plc, a leading multinational oil and gas company, in its upsize of its senior secured letter of credit agreement and the issuance of $2.6 billion in secured and unsecured notes in various issuances
  • An ad hoc group of noteholders in the ongoing chapter 11 cases of Intelsat S.A. and its co-debtor affiliates, operator of the world’s largest and most advanced satellite fleet and connectivity infrastructure
  • TPG Partners, as sponsor to Cirque du Soleil, in connection with an unrestricted subsidiary financing and bid for assets of Cirque du Soleil in bankruptcy
  • Affiliates of Prudential Capital Partners and Onex Falcon as petitioning creditors in the involuntary chapter 11 cases and subsequent consensual out-of-court restructuring of American Achievement Corporation, a leading publisher of yearbooks, manufacturer and direct marketer of scholastic and graduation products, and provider of graduation commencement services
  • An ad hoc group of senior noteholders in the prepackaged chapter 11 cases of Oasis Petroleum, a Houston, Texas-based independent exploration and production company with a focus on unconventional crude oil and natural gas development. The plan provides for the restructuring of about $2.23 billion of debt, including the extension and modification of its RBL facility, the conversion of the senior notes into all of the equity of the reorganized company, and the settlement of significant ongoing litigation claims
  • An ad hoc group of noteholders in the out-of-court restructuring and sale of OmniMax International, a leading manufacturer of building and transportation products
  • An ad hoc group of term loan lenders in the out-of-court restructuring of Chief Power, the largest owner of undivided interests in two power generating stations in Western Pennsylvania. The restructuring, which was supported by 100% of the company’s term loan lenders, provided for the conversion of over $330 million in debt into 97% of the equity of the company, and the raising of a backstopped new money priming debt facility

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