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Hybrid Capital & Special Situations

Our multidisciplinary team counsels sponsors, investors, issuers and creditors in connection with a broad range of sophisticated and bespoke debt, equity and hybrid solutions across the capital structure. Our group provides comprehensive and tailored advice to clients informed by decades of experience creating cutting-edge alternative capital solutions.

Client News

Paul, Weiss Advises Noteholders in EchoStar Restructuring

Paul, Weiss advised an ad hoc group of DISH Network Corporation convertible noteholders in certain strategic transactions completed by DISH parent company EchoStar Corporation.

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Client News

Centerbridge Partners Leads $700 Million Private Financing of Sabre Corporation

Paul, Weiss advised Centerbridge Partners, L.P. as lead investor in a $700 million private financing, alongside other institutional investors, of Sabre Corporation, a leading software and technology provider that powers the global travel industry.

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Client News

Apollo Invests in Cengage Group

Paul, Weiss is advising funds managed by affiliates of Apollo Global Management, Inc. in its agreement to purchase $500 million of a new series of convertible preferred stock in Cengage Group, subject to certain adjustments.

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Awards & Recognition

Paul, Weiss Shortlisted for Four 2023 Euromoney Women in Business Law Americas Awards

Paul, Weiss is shortlisted in four categories in Euromoney’s 2023 Women in Business Law Americas Awards, which annually recognizes the “best of the best” among women lawyers, as well as the law firms that are advancing and supporting women in the practice of law.

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Firm News

Special Situations Partner Joins Paul, Weiss in London

Kai Zeng is joining the firm in London as a partner in the Restructuring Department and Finance and Hybrid Capital & Special Situations groups.

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Client News

Apollo Invests in Circulus

Paul, Weiss is advising funds managed by affiliates of Apollo in their $300 million structured solution in the form of a senior secured loan and structured warrants to Circulus Holdings, PBLLC, a portfolio company of Ara Partners and an emerging leader in plastics recycling.

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Client News

Apollo and KKR Commit to Invest in Citrix Preferred Stock

Paul, Weiss advised funds managed by Apollo Global Management and KKR as part of a consortium providing a $2.5 billion preferred equity commitment to support the $16.5 billion acquisition of Citrix by affiliates of Vista Equity Partners and Evergreen Coast Capital (an affiliate of Elliott Investment Management).

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Client News

Centerbridge Partners and Oaktree Capital Management Lead $1.25 Billion OTG Management Financing

Paul, Weiss advised Centerbridge Partners and Oaktree Capital Management in leading a first lien senior secured credit facility for OTG Management, an owner and operator of restaurants and retail in airports.

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Client News

Apollo Invests in W.R. Grace

Paul, Weiss advised funds managed by Apollo Global Management affiliates in their preferred stock issuance in connection with Standard Industries Holdings Inc.’s $7 billion buyout of W.R. Grace & Co., a Maryland-based specialty chemicals company.

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Client News

David’s Bridal Closes $70 Million Capital Investment

Paul, Weiss advised David’s Bridal, LLC, the nation’s leading bridal and special occasion authority, in securing a $70 million term loan provided by CPPIB Credit Investments Inc., a subsidiary of Canada Pension Plan Investment Board.

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Client News

Apollo, Knighthead and Certares Sponsor Plan to Fund Hertz’s Exit From Bankruptcy

Paul, Weiss is advising funds and accounts managed by affiliates of Apollo Capital Management, L.P. in a joint proposal, alongside Knighthead Capital Management LLC and Certares Opportunities LLC, to sponsor Hertz Global Holdings, Inc.’s chapter 11 plan of reorganization and to fund Hertz’s and its affiliates’ exit from bankruptcy.

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Client News

Apollo Funds to Acquire Verizon Media in $5 Billion Deal

Paul, Weiss is advising funds managed by affiliates of Apollo Global Management in their $5 billion acquisition of Verizon Media, which includes iconic brands such as Yahoo and AOL.

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Client News

Oaktree Capital Closes Ashford Hospitality Financing

Paul, Weiss advised funds managed by Oaktree Capital Management, L.P. in its $200 million senior secured term loan to Ashford Hospitality Trust, Inc., a real estate investment trust investing predominantly in upper upscale, full-service hotels.

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Client News

Weatherford Completes $500 Million Refinancing

Paul, Weiss is representing Weatherford International plc and certain subsidiaries in the refinancing of its asset-based lending facility through the issuance of $500 million of 8.75% senior secured first lien notes maturing on September 1, 2024.

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