Out-of-Court Restructuring - Iracore International

Iracore International

  • 4/17/17 Recap: Private equity-owned Iracore was able to consummate an out-of-court deal whereby its noteholders obtained substantially all of the equity in the company. The company, a Minnesota-based supplier of pipe and wear materials utilized in oil sands and mining applications, had $125mm of debt stemming from an LBO. 
  • Capital Structure: $20mm RCF, $125mm '18 9.5% notes   
  • Company Professionals:
    • Legal: Willkie Farr & Gallagher LLP
    • Investment Banker: Jefferies LLC