Shearman & Sterling LLP
Issue link: https://digital.shearman.com/i/1494420
Boardriders – Uptiering Structure 33 Before First Lien Loans ($440 million) Roll-Up Lenders & Everyone Else Pro Rata and Pari Passu After *Illustration adapted from Complaint filed on October 7, 2020. Super Priority Loans ($431 million) Roll-Up Lenders Only "Second-Lien" Loans ($119 million) Everyone Else Liability Management and Refinancing Solutions in Europe