![]() ![]() Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”), (ii) a scheme of arrangement by Diebold Nixdorf Dutch Holding B.V. Diebold Nixdorf obtains $1.25 billion senior secured superpriority DIP credit facility Jones Day is representing Diebold Nixdorf, Incorporated (the “Company”), a multinational financial and retail technology company that specializes in the sale, manufacture, installation, and service of self-service transaction systems (such as ATMs and currency processing systems), point-of-sale terminals, physical security products, and software and related services for global financial, retail, and commercial markets, and certain of its domestic and foreign subsidiaries (collectively, the “Debtors”) in (i) a pre-packaged chapter 11 proceeding in front of the U.S.Jones Day represented PNC Bank, National Association, as administrative agent, in connection with a $1.5 billion term loan facility provided to The Cooper Companies, Inc., a global medical device company. PNC Bank provides $1.5 billion term loan facility to The Cooper Companies, Inc.(the "Dutch Issuer") in the District Court of Amsterdam (the "Dutch Court"), and (iii) the chapter 15 proceedings before the Bankruptcy Court commenced by the foreign representative of the Dutch Issuer, wherein the Bankruptcy Court recognized the Dutch Scheme proceeding as a foreign main proceeding and recognized and extended comity to the WHOA Plan that was sanctioned by the Dutch Court. 23-90602-DRJ) commenced on June 1, 2023, in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") (ii) the Dutch Scheme, commenced on Jby Diebold Nixdorf Dutch Holding B.V. and Canadian subsidiaries (the "Debtors") in connection with (i) the prepackaged chapter 11 cases of In re Diebold Holding Company, LLC, et al., (Case No. Bankruptcy Code and a scheme of arrangement (the "Dutch Scheme") under the Dutch Act on Confirmation of Extrajudicial Plans ( Wet Homologatie Onderhands Akkoord ("WHOA")), and the first-ever chapter 15 recognition of Dutch Scheme proceedings and a sanctioned WHOA reorganization plan (the "WHOA Plan"), Jones Day represented Diebold Nixdorf, Incorporated ("Diebold") and certain of its U.S. bankruptcy code and Dutch restructuring law in 71 days In the first-ever cross border restructuring involving dual main proceedings under chapter 11 of the U.S. Diebold Nixdorf successfully restructures over $2.7 billion in funded debt and completes the first-ever dual proceeding under the U.S.Diebold Nixdorf obtains $1.25 billion senior secured exit credit facility Jones Day represented Diebold Nixdorf, Incorporated, a multinational financial and retail technology company that specializes in the sale, manufacture, installation, and service of self-service transaction systems (such as ATMs and currency processing systems), point-of-sale terminals, physical security products, and software and related services for global financial, retail, and commercial markets, in connection with a new $1.25 billion senior secured term loan facility as part of it’s emergence from chapter 11 bankruptcy and other domestic and foreign court-supervised restructuring proceedings.Book: Investment Banking: A Guide to Underwriting and Advisory Services.The Bookrunner title is then assigned to the banks comprising the new lender group.Ī bank may also be referred to as a " lead arranger", implying that they are more senior in the hierarchy of Arrangers involved in the deal.įor a coordinated series of bilaterals the Mandated Arranger title is allocated to the coordinators. If amendments are made to the loan, the banks that committed to the original loan may retain their involvement in the deal as "Mandated Arrangers". Upon final signing of the full syndicate, the Bookrunner title may be forfeited to another lender. ![]() They will not necessarily be the same entity, although they often are. The "Arranger" is the entity (or entities) that subsequently agrees and negotiates the project financing structure. This may be shared amongst several investors depending on the size of the deal. Prior to the syndication of a loan and at the point where the loan documentation is signed, the title of " Bookrunner" is allocated to the bank that commits to provide the loan. They do not necessarily acquire all the debt - this may be split into various parts and sold to a variety of Arrangers. This is because this entity bears the risk of being able to sell the underlying securities/debt or the cost of holding it on its books until such time in the future that they may be sold. They are entitled to syndicate the loan or bond issue, and may be referred to as the " lead underwriter". In investment banking, an arranger is a provider of funds in the syndication of a debt. ![]()
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