TGLT’s Recapitalization

Simpson Thacher is representing an ad-hoc committee of holders of TGLT S.A.’s convertible subordinated notes due 2027 (the “notes”) in connection with the negotiation and execution of agreements among TGLT and certain holders of the notes relating to the recapitalization of TGLT.

The agreements include an interest deferral agreement, pursuant to which certain holders of notes agreed to defer the interest payable to them on February 15, 2019 until May 30, 2019, and a recapitalization support agreement, pursuant to which certain holders of notes agreed to support the recapitalization of the company by means of a voluntary exchange of the notes for convertible preferred stock of the company. The agreements are subject to a variety of conditions and set forth certain milestones for completing the proposed exchange offer and the principal terms of the preferred stock to be offered thereby.

TGLT is an integrated real estate company with substantial focus in Argentina.

The Simpson Thacher team includes S. Todd Crider (Picture), Michael Torkin, Kirsten L. Davis, Pablo Richards, Joshua Bernard and Eduardo Camara (Capital Markets and Restructuring); and Andrew Purcell and Sarah Katz (Tax).

Involved fees earner: Joshua Bernard – Simpson Thacher & Bartlett; Eduardo Camara – Simpson Thacher & Bartlett; Todd Crider – Simpson Thacher & Bartlett; Kirsten Davis – Simpson Thacher & Bartlett; Sarah Katz – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Pablo Richards – Simpson Thacher & Bartlett; Michael Torkin – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Ad Hoc Committee Convertible Subordinated Notes TGLT;

Author: Ambrogio Visconti