You turn to Accordion.
Your senior secured lender comes to us, so we develop various scenario analyses to evaluate the financial and operational impact of both forbearance and bankruptcy options, ultimately deciding that Chapter 11 restructuring would be the most beneficial path. We jump in as a partner to assist in the Chapter 11 process, strengthen financial performance, and manage liquidity. We do this by:
- Preparing and presenting periodic updates and recommendations on key findings and observations to the lender group.
- Collaborating with advisors to determine and negotiate the sizing of DIP Funding.
- Working with counsel to advise lenders on the structure of the Stalking Horse Credit Bid, including preparation of an Adequate Assurance package for submittal to court.
- Monitoring post-petition performance of business and compliance with DIP covenants and advising the lenders on the progress of §363 sale and related issues, serving as liaison with the company’s investment banker.
- Leading post-auction transition activities and stand-up of Newco entities for the lender/new owners.
- Identifying and executing on transaction-related tasks, and collaborating with the new CEO, Chairman, and counsel to successfully close for the lender group on purchase of assets.
Your value is enhanced.
With Accordion’s help, the secured lenders and your company implement a restructuring strategy that results in the closing of some underperforming units, strengthening your financial performance. This leads to a successful sale of the company to the secured lenders in a debt-for-equity transaction.