AGY Holding Reaches Deal with Lenders to Restructure
A team of Ropes & Gray attorneys advised AGY Holding Corp.
and private equity firm Kohlberg & Company
in a restructuring agreement with holders of approximately 92% in aggregate principal amount of AGY’s 11% senior second lien notes due 2014 to recapitalize the company. AGY also announced that it has entered into a short-term amendment to its Amended and Restated Master Lease with DB Energy Trading LLC, providing for an extension of the term of the Metals Facility through July 15, 2013. The transaction was announced on May 15 and the team was led by private equity partner Craig Marcus
, finance partner Steve Rutkovsky
and tax partner Eric Elfman
. AGY is a leading global producer of fiberglass yarns and high-strength fiberglass reinforcements used in a variety of composites applications.