Arsenal’s Financial Restructuring


Simpson Thacher represented Arsenal Resources in a comprehensive financial restructuring that included an out-of-court transaction and a pre-packaged chapter 11 reorganization.

As part of the restructuring, Arsenal’s operating companies entered into a new RBL facility and term loan facility, and the holding company implemented a debt-for-equity exchange through the chapter 11 process which delevered the balance sheet by almost $900 million. The out-of-court transaction closed in December and the plan of reorganization became effective on February 14.

The chapter 11 case was nine days long, the shortest case on record in Delaware.

The Simpson Thacher team included: Matt Einbinder (Picture), Erland Modesto, Nathan Bascom, Kal Venkatraj and Minzala Mvula (Credit); Michael Torkin, Kathy McLendon, Nicholas Baker and Chase Bentley (Restructuring); Bill Russell (Litigation); Chris May, Jim Cross and Nathan Lawson (M&A); Jon Creed and Jasmine Hay (Tax); Rise Norman and Sung Bum Cho (Capital Markets); Mike Isby (Environmental); and Townshine Wu (Funds).

Involved fees earner: Nicholas Baker – Simpson Thacher & Bartlett; Nathaniel Bascom – Simpson Thacher & Bartlett; Chase Bentley – Simpson Thacher & Bartlett; Sung Bum Cho – Simpson Thacher & Bartlett; John Creed – Simpson Thacher & Bartlett; Jim Cross – Simpson Thacher & Bartlett; Matthew Einbinder – Simpson Thacher & Bartlett; Jasmine Hay – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Nathaniel Lawson – Simpson Thacher & Bartlett; Christopher May – Simpson Thacher & Bartlett; Kathrine McLendon – Simpson Thacher & Bartlett; Erland Modesto – Simpson Thacher & Bartlett; Minzala Mvula – Simpson Thacher & Bartlett; Risë Norman – Simpson Thacher & Bartlett; William Russell – Simpson Thacher & Bartlett; Michael Torkin – Simpson Thacher & Bartlett; Kalyan Venkatraj – Simpson Thacher & Bartlett; Townshine Wu – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Arsenal Resources;

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Author: Ambrogio Visconti