A middle market-focused, specialty finance firm sought assistance in structuring and closing a $15 million debtor-in-possession revolving credit facility to three acute care hospitals located in Mississippi and their parent company.
Waller represented the specialty finance firm in the transaction. The transaction involved a complex collateral package and capital structure, including the negotiation of priming liens in real property of the borrowers ahead of two other pre-petition lenders and the negotiation and ultimate court approval of a roll-up of the firm's pre-petition loan to the borrowers. The transaction further required the negotiation and documentation of various complex intercreditor agreements.
Represented administrative agent in documenting $145 million revolving credit facility to a hospital system exiting bankruptcy.
Negotiated the sale of a number of hospitals for Promise Healthcare and confirmed a plan of liquidation with significant recoveries for unsecured creditors.
Serving as lead debtor's counsel to Promise Healthcare in its restructuring and pending bankruptcy.
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