Finance

Leveraged Finance Academy: Advanced Topics - 8 March 2023

Shearman & Sterling LLP

Issue link: https://digital.shearman.com/i/1494420

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TriMark – Uptiering Structure 31 Before First Lien Loans ($569 million) The Defendant Lenders, Plaintiffs & Other Lenders After 55% Estimated Recovery if an Event of Default occurs First Out Super Senior Loans ($120 million) The Defendant Lenders Second Out Super Senior Loans ($307.5 million) The Defendant Lenders First Lien Loans ($261.5 million) Plaintiffs & Other Lenders 95% Estimated Recovery if an Event of Default occurs 60% Estimated Recovery if an Event of Default occurs 0% Estimated Recovery if an Event of Default occurs *Illustration adapted from Complaint filed on November 7, 2020. Liability Management and Refinancing Solutions in Europe

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