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Jennifer Harris is a partner in the firm’s finance group, where she focuses on the credit opportunities practice. Jennifer advises clients on a range of lending and other financial matters. Her practice focuses on special situations and lender-side finance transactions, including distressed financings, structured financings, secured lending and debt restructuring both in and outside of bankruptcy. She represents financial institutions, corporations, issuers, special servicers, and official and ad hoc creditors’ committees. Recent areas of particular focus include workouts of troubled structured finance transactions, special situation lending and secured lending (2nd lien structures, DIPs and exit facilities).
Jennifer’s experience spans a wide-array of industries that include aviation, telecom, apparel, gaming, hospitality, telecommunications, broadcasting, shipping, health care, and sports.
Experience
- Represented Cutera, Inc., a provider of aesthetic and dermatology solutions for practitioners worldwide, in prepackaged chapter 11 cases to reduce the company’s debt by nearly $400 million, or over 90%, and raise $65 million in new money through a rights offering and DIP and exit financings from existing creditors.
- Represented an ad hoc group of bondholders of Exela Technologies, a business process automation company, in connection with the restructuring of the company’s $1.3 billion of funded debt and the provision of $185 million in debtor-in-possession (DIP) financing ($80 million new money and $105 million roll-up loans).
- Represented an ad hoc group of prepetition bondholders as lenders in connection with the provision of a DIP financing to Biora Therapeutics, a biotechnology company.
- Represented Aimbridge Hospitality and its affiliates in connection with an agreement to implement a comprehensive deleveraging of its approximately $1.3 billion in funded debt, involving an equitization of approximately $1.1 billion in senior and junior debt obligations and the infusion of $100 million in new capital. Aimbridge is the leading third-party hotel management company, managing over 1,000 hotels globally and employing approximately 44,000 individuals.
- Represented Hearthside Foods and its affiliated debtors in their prearranged chapter 11 cases, restructuring over $3.0 billion of funded debt. The restructuring plan eliminated approximately $2 billion of funded debt and provided $200 million of new money through an equity rights offering and approximately $190 million of additional capital from a new asset-backed loan facility. Hearthside emerged from chapter 11 with approximately $600 million of liquidity and rebranded as Maker’s Pride.
- Represented Exactech, Inc., and its affiliated debtors in their pending chapter 11 cases involving the restructuring of more than $350 million of prepetition debt, as well as additional prepetition liabilities; Exactech’s chapter 11 cases are supported by an $85 million debtor in possession credit facility and a stalking horse bid, which remains subject to higher and better offers, for substantially all of the debtors’ assets.
- Represented the second lien lenders in connection with the provision of second lien credit facilities and the related issuance of warrants for K2 Pure Solutions, a Canada-based manufacturer of water purification and disinfection products focused on environmental sustainability.
- 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 FORMA Brands in connection with obtaining $33 million in DIP financing from the prepetition secured lenders and its subsequent sale through the voluntary Chapter 11 proceedings.
- Represented Morgan Stanley Tactical Value in its investment in OneTeam Partners, a global sports licensing, marketing, media and investment company.
- Represented a direct lender in connection with its first lien loans and convertible debt package for a technology solutions company.
- Represented an ad hoc group of debt holders in the chapter 11 cases of ION Geophysical in connection with its DIP Financing.
- Represented a leading airline in connection with providing DIP financing, a “rollup” of prepetition loans and notes and Exit financing.*
- Represented an ad hoc bondholder group in connection with the multijurisdictional bankruptcy of a telecommunications giant.*
- Represented an ad hoc group of lenders in connection with the refinancing and buy-sell agreements with respect to the mortgage loan and mezzanine loan agreements.*
- Represented the unsecured creditor committee in connection with receipt of DIP and Exit Islamic compliant financing.*
- Represented a key lender in connection with the work-out of its holdings of defaulted first lien debt of the owner of a Major League Baseball team and a National Hockey League team.*
*Prior to joining Ropes & Gray