We advised the administrative agent and a revolving lender on the recapitalization

Davis Polk advised the administrative agent and a revolving lender under SI Group’s existing revolving credit agreement, in connection with a comprehensive recapitalization transaction. The transaction reduces SI Group’s outstanding net indebtedness by approximately $1.7 billion by equitizing the company’s existing term loan indebtedness and includes, among other things, amendments to the existing revolving credit facility to support the company’s financial and operational flexibility going forward. In addition, a new institutional ownership group has injected $150 million of junior capital to further support the company’s ongoing capital and operational needs and initiatives.

SI Group is a leading global developer and manufacturer of performance additives, process solutions and chemical intermediates.

The Davis Polk restructuring team included partner Darren S. Klein and associate Matthew Bruno Masaro. The finance team included partner Scott M. Herrig, counsel Mayer J. Steinman and associates Renee G. Levin, Nicole Shapero and Kristiana J. Olson. Partners Aaron Ferner and Nick Benham provided U.K. law advice. Partner Patrick E. Sigmon provided tax advice. Members of the Davis Polk team are based in the New York and London offices.

Copy link to share post