Transactions

YRC Worldwide, Inc.’s exchange offer

Date Announced:
12/30/2009

client:
YRC Worldwide, Inc.

Status:
Closed – 12/2009

Value:
$470 million Read the case study

Trusted advisor to YRC Worldwide Inc.

On December 31, 2009, YRC Worldwide Inc. (“YRC,” Nasdaq: YRCW) completed a $470 million debt-for-equity exchange offer, which resulted in a significantly improved liquidity profile. On February 23, 2010, Moelis & Company executed a private placement of $70 million of 6% Convertible Senior Notes. Proceeds from the issuance were used to satisfy the remaining amounts outstanding on the company’s 8 1/2% Guaranteed Notes due April 15, 2010, with excess proceeds available to be used for general working capital purposes. The two transactions were part of a broad restructuring effort which also included ABS facility, credit facility and union agreement amendments and provided YRC with runway to execute its business plan. Moelis & Company acted as financial advisor, joint lead dealer manager and joint lead placement agent on the transactions and continues to serve as financial advisor on YRC’s broader restructuring efforts.

Pilgrim’s Pride Corporation’s Chapter 11 Reorganization

Date Announced:
12/27/2009

client:
Official Committee of Unsecured Creditors of Pilgrim’s Pride Corporation

Status:
Closed – 12/2009

Value:
$2.2 billion

Ion Media Networks, Inc.’s Chapter 11 Reorganization

Date Announced:
12/20/2009

client:
Ion Media Networks, Inc.

Status:
Closed – 12/2009

Value:
$2.7 billion

Clear Channel Outdoor, Inc.’s notes offering

Date Announced:
12/17/2009

client:
Clear Channel Outdoor, Inc.

Status:
Closed – 12/2009

Value:
$2.5 billion

TYBRIN Corporation’s sale to Jacobs Engineering Group Inc.

Date Announced:
12/17/2009

client:
TYBRIN Corporation

Status:
Closed – 12/2009

Value:
Undisclosed

Fairmont Raffles Hotels International’s credit facility amendment

Date Announced:
12/14/2009

client:
Fairmont Raffles Hotels International

Status:
Closed – 12/2009

Value:
$1.3 billion

Nortek, Inc. & Chapter 11 Reorganization

Date Announced:
12/10/2009

client:
Ad Hoc Committee of Bondholders of Nortek, Inc.

Status:
Closed – 12/2009

Value:
$1.8 billion

Wind Hellas Telecommunications S.A.’s €3.3 billion restructuring

Date Announced:
11/26/2009

client:
Ad Hoc Committee of Senior Secured Noteholders of Wind Hellas Telecommunications S.A.

Status:
Closed – 11/2009

Value:
€3.3 billion

Olson Urban Housing LLC’s restructuring

Date Announced:
11/23/2009

client:
Olson Urban Housing LLC

Status:
Closed – 11/2009

Value:
Undisclosed

Naverus' sale to GE - Aviation

Date Announced:
11/22/2009

client:
Naverus

Status:
Closed – 11/2009

Value:
Undisclosed

Chriscott USA Inc.’s acquisition of Barzel Industries Inc.

Date Announced:
11/12/2009

client:
Chriscott USA Inc.

Status:
Closed – 11/2009

Value:
Undisclosed

youbet.com, Inc.’s sale to Churchill Downs Incorporated

Date Announced:
11/10/2009

client:
youbet.com, Inc.

Status:
Closed – 11/2009

Value:
$127 million

Lear Corporation’s Chapter 11 Reorganization

Date Announced:
11/04/2009

client:
Ad Hoc Committee of Senior Unsecured Noteholders of Lear Corporation

Status:
Closed – 11/2009

Value:
$3.6 billion

Landry’s Restaurants, Inc.’s sale to Tilman J. Fertitta

Date Announced:
11/02/2009

client:
Special Committee of the Board of Directors of Landry’s Restaurants, Inc.

Status:
Closed – 10/2010

Value:
$1.4 billion

ING Industrial Fund’s equity capital raising and capital management initiatives

Date Announced:
10/26/2009

client:
ING Industrial Fund

Status:
Closed – 11/2009

Value:
A$700 million Read the case study

Financial advisor to ING Industrial Fund on its A$700 million equity capital raise and capital management initiatives

On November 27, 2009 ING Industrial Fund (ASX:IIF), an externally managed ASX listed real estate investment trust that develops, owns and manages a diversified portfolio of over 60 industrial properties and business parks, completed an A$700 million equity capital raise to pay down debt and restructure its balance sheet as the second stage of its capital management initiatives. The equity raise was comprised of a one for one A$544 million accelerated non-renounceable entitlement offer and an A$156 million institutional placement. The transaction reduced pro forma balance sheet gearing to 33.5% from 53.9% and provided a calendar year 2010 earnings yield of 8.7% on the offer price. Moelis & Company acted as financial advisor to ING Industrial Fund.

Transactions

Clear all

Download CSV