We advised the prepetition administrative agent  

Davis Polk advised the administrative and collateral agent under the $965 million prepetition credit facility in connection with the chapter 11 restructuring of Cyxtera Technologies, Inc. and certain of its subsidiaries (collectively, “Cyxtera”).

In June 2023, Cyxtera initiated voluntary chapter 11 proceedings in the United States Bankruptcy Court for the District of New Jersey. On November 17, 2023, the Bankruptcy Court confirmed a chapter 11 plan of reorganization for Cyxtera, including a sale of substantially all of the company’s assets to Phoenix Data Center Holdings, an affiliate of Brookfield Infrastructure Partners LP, for aggregate consideration totaling $775 million, subject to certain adjustments. The sale closed and the company emerged from bankruptcy on January 12, 2024.

Cyxtera is a global data center leader in retail colocation and interconnection services, providing a suite of intelligently automated infrastructure and interconnection solutions to more than 2,300 leading enterprises, service providers and government agencies around the world.  

The Davis Polk restructuring team included partner Angela M. Libby and associates David Kratzer and Audrey Youn. The finance team included partner Kenneth J. Steinberg, counsel Mayer J. Steinman and associate Matthew Vallade. All members of the Davis Polk team are located in the New York office.