Robert Y. Bennett, Jr.
Robert Bennett is an associate in Ropes & Gray’s finance group, based in New York. He focuses his practice on event-driven and opportunistic financing transactions, as well as special situations, workouts, restructurings and insolvency matters. He represents participants in all aspects of the capital solutions' arena, including distressed investing, strategic lending, loan-to-own, and restructuring matters. Robert has also represented private equity sponsors, portfolio companies and corporate borrowers in a broad range of leveraged finance transactions, including acquisition financings, leveraged buyouts and recapitalizations.
Prior to joining Ropes & Gray, Robert was a finance associate in the New York office of a New York-based international law firm.
- Representing Rubio’s Grill, the operator and franchisor of approximately 170 limited service restaurants across California, Arizona and Nevada, in its chapter 11 cases to reduce its secured indebtedness on a consensual basis, address its operational footprint, and obtain a significant liquidity infusion upon emergence from chapter 11.
- An ad hoc committee of noteholders in the chapter 11 restructuring of Whiting Petroleum Corporation, one of the largest independent exploration and production companies in the U.S. with over $3.4 billion in funded debt obligations.*
- An ad hoc group of unsecured noteholders in the prearranged chapter 11 restructuring of Extraction Oil & Gas, one of the largest oil and gas exploration and production companies in the Rocky Mountain region, with approximately $1.7 billion of funded debt obligations. *
- The term loan lenders to TOMS Shoes, a maker of casual footwear with a unique gifting mission, in the company’s out-of-court restructuring which resulted in the term loan lenders owning 100 percent of the equity of TOMS on account of (a) the conversion of $300 million of secured term debt into equity and takeback debt in TOMS and (b) a new money investment.*
- The first lien creditors of LBI Media in connection with all aspects of the chapter 11 cases of LBI Media and its affiliates, including in connection with providing debtor-in-possession financing and exit financing.*
- The first lien creditors of Affinion Group (n/k/a cxLoyalty), a leading global provider of loyalty and customer engagement solutions, in connection with the company’s successful out-of-court recapitalization that included restating the existing first lien debt facilities.*
- Foresight Energy, a leading coal producer, in connection with debtor-in-possession financing for its bankruptcy and $150 million in secured exit financing.*
- Templar Energy, an exploration and production company, in connection with debtor-in-possession financing for its bankruptcy case.*
- Bumble Bee Foods and its U.S. affiliates in a combined chapter 11 and CCAA process, including in connection with two debtor-in-possession financings, totaling more than $275 million in commitments.*
- An ad hoc group of term loan lenders in connection with the prearranged chapter 11 case of Covia Holdings Corporation, a leading provider of diversified mineral-based and material solutions for the global energy and industrial markets, in the U.S. Bankruptcy Court for the Southern District of Texas.*
- An ad hoc committee of Gibson Brands, Inc. noteholders, in connection with Gibson Brand’s DIP financing, exit financings and successful reorganization under chapter 11. The Nashville, Tennessee-based company is an iconic American manufacturer of guitars, other musical instruments and professional audio equipment. Under the reorganization plan the noteholders received the overwhelming majority of Gibson’s post-restructuring equity.*
- A lender in connection with a $500 million unsecured loan to a leading mortgage originator and servicer.*
- Kohlberg & Company, L.L.C. in connection with the financing aspects of its acquisition of Nelipak Corporation, Inc. from Mason Wells and subsequent acquisition of Bemis Healthcare Packaging Europe from Amcor’s Flexible Packaging business unit.*
- Hostess Brands, LLC in (x) the repricing of its approximately $1 billion of term loans and $100 million of revolving credit facility commitments and (y) the incurrence an additional $140 million of incremental term loans used to acquire all of the shares of Voortman Cookies Limited.*
- The Stars Group in its $6.8 billion financing in connection with Stars’ acquisition of U.K.-based Sky Betting & Gaming, creating the world’s largest publicly listed online gaming company.*
- A New York City-based publisher of magazines, supermarket tabloids and books in connection with (a) a bridge loan to purchase celebrity and teen titles and (b) the refinancing of all of its outstanding debt capital structure.*
- Co-author, “Exit Financing: Overview,” Practical Law Practice Note (February 10, 2020)
- JD, Wake Forest University School of Law, 2013; Wake Forest Law Review
- BBA, William & Mary, 2010
Admissions / Qualifications
- New York, 2014