Nell Ethridge is an associate based in New York in Ropes & Gray’s capital solutions and private credit group and actively participates in the firm’s finance group. Nell focuses her practice on direct lending and special situations representations in senior secured, unitranche, mezzanine, second lien, and distressed transactions, as well as workouts, restructurings and insolvency matters. She has represented lenders and borrowers in direct lending, high yield, and mezzanine transactions, from the lower middle market to large cap transactions.

Prior to joining Ropes & Gray, Nell was a finance associate in the New York office of another international law firm.

Experience

  • 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, which eliminated over $500 million of debt. As part of the recapitalization, holders of second lien term loans received a significant primary equity stake as well as various series of preferred stock in the recapitalized Yak.
  • Represented iMedia Brands, Inc. and its affiliated debtors in connection with its DIP financing facility for its pending chapter 11 cases. iMedia and its affiliates are a leading interactive media company that capitalizes on the convergence of entertainment, ecommerce, and advertising.
  • Represented direct lenders Aquiline Credit Opportunities and Energy Impact Partners in connection with their $40 million senior secured term loan to a leading provider of end-to-end solutions and services for technology transformations.
  • Represented an ad hoc group of bondholders of Exela Technologies, Inc. with respect to, among other things, an out of court exchange involving approximately $1.0 billion of first lien bond debt, and a subsequent exchange of $1.3 billion of first lien bond debt.
  • Represented an ad hoc group of first lien lenders to Instant Brands Holdings Inc. in connection with their $390 million prepetition term loans, and the provision of a $132.5 million debtor-in-possession financing.
  • 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
  • Represented Blackstone in a strategic financing collaboration for up to $1 billion in funding with PTC Therapeutics, a global biopharmaceutical company focused on medicine development and commercialization for patients with rare disorders.
  • Represented an ad hoc group of first and second lien lenders of CHC Group LLC, the global rotary wing aviation services provider, with respect to, among other things, approximately $100 million of new money financing and an out of court exchange involving up to approximately $500 million of existing first and second lien debt.
  • Represented Blackstone in a strategic $330 million financing collaboration with Harmony Biosciences Holdings, a pharmaceutical company developing and commercializing therapies for neurological diseases.

Areas of Practice