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Hilary Dengel
Ms. Dengel is a partner in Davis Polk’s Corporate Department in New York, practicing in the Finance Group. She represents financial sponsors, corporate borrowers and various lenders on a wide range of transaction types, including leveraged and investment-grade acquisition financings, high-yield bond issuances, asset-based financings, complex restructurings, and debtor-in-possession and exit financings. Her corporate clients include Bausch Health, Comcast and Pattern Energy Group. Her sponsor clients include Atairos, Brookfield, KPS, Metalmark Capital and Reverence Capital. |
Work Highlights
CORPORATE AND Sponsor Representations
- £22 billion financing for Comcast's acquisition of the entire share capital of Sky
- $11.5 billion in ABL, cash flow, first-lien term and bridge facilities in connection with Brookfield’s pending acquisition of the Power Solutions business of Johnson Controls
- $5.79 billion financing for Bausch Health (formerly Valeant Pharmaceuticals)
- $1.089 billion in first- and second-lien facilities in connection with Atairos’ acquisition of Learfield Communications and Learfield’s subsequent combination with IMG College. Learfield/IMG College is a joint venture among Atairos, Comcast, Endeavor and Silver Lake.
- $745 million in first- and second-lien facilities in connection with Atairos’ acquisition of Bowlero, and $113 million in incremental facilities for Bowlmor
- $195 million in secured credit facilities in connection with Atairos’ acquisition of a majority interest in Spectra, a joint venture with Comcast
- $400 million unitranche financing for Metalmark Capital’s majority investment in WorldStrides
- $250 million incremental first and second lien facilities for Mirion Technologies’ acquisition of Canberra Industries
- $60 million ABL and $400 million secured notes financing for Kisser Milling Company
- Lightyear Capital in connection with financing for its acquisition of Therapy Brands
- States Title in connection with its acquisition of North American Title
ACQUISITION FINANCING - SELECT ARRANGER Representations
- $300 million term loan financing for Centerbridge Partners’ acquisition of Bluestem Group
- $280 million incremental term loan financing for Bluestem Group’s acquisition of Orchard Brands
- $450 million senior secured term loan facility for Bauer Performance Sports Ltd. and $200 million asset-based revolving credit facility for several of Bauer's U.S. and Canadian subsidiaries in connection with the acquisition of the baseball and softball related businesses of Easton-Bell Sports, Inc.
RESTRUCTURING - SELECT AGENT REPRESENTATIONS
- $725 million debtor-in-possession financing for Avaya, Inc.
- $800 million debtor-in-possession financing for Peabody Energy Corporation
- $592 million in debtor-in-possession financing for Alpha Natural Resources
Professional History
- Partner since 2019
- Davis Polk since 2007
News
Articles and Books
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Regulatory Collateral: TerreStar, Tracy Broadcasting, AMR
DBR Small Cap | Dow Jones -
The Logic and Limits of Credit Bidding by Secured Creditors Under the Bankruptcy Code
Lawrence P. King and Charles Seligson Workshop on Bankruptcy and Business Reorganizaiton | American Bankruptcy Institute / New York University School of Law