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Ropes & Gray Advises Second Lien Ad Hoc Group on Out-of-Court Restructuring of Yak Access, LLC

Practices: Business Restructuring, Finance, Private Equity, Tax Industries: Private Equity

Ropes & Gray represented an ad hoc group of second lien lenders of Yak Access, LLC, a provider of temporary roadways to remote construction sites, in connection with its out-of-court recapitalization and exchange transaction, resulting in a combination of equity and approximately $419,000,000 of new loans and eliminating over $500,000,000 of net debt. The transaction closed on March 10, 2023 and was announced in a press release.

The Ropes & Gray team was led by bankruptcy partners Ryan Preston Dahl and Matthew Roose and included financing partner Milap Patel, private equity counsel Ellen Wheeler, and tax partner Benjamin Rogers.

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