Natalie Raine

Select experience includes advising:

• Oriflame in connection with a comprehensive recapitalisation to deliver a substantially de-levered and sustainable balance sheet with a debt reduction of approximately €520 million and a meaningful maturity runway.  
• Altice France S.A. and Altice France Holding S.A. on the launch of their historic balance sheet restructuring involving more than €24 billion of debt, whereby Altice France and Altice France Holding entered into restructuring framework agreements with holders of their term loans, senior secured notes and senior notes.
• Arrival on navigating their distressed situation, including putting in place unique and innovative secured bridge financing and concurrent convertible bond exchange, a first in the European market, and subsequent strategic sale transaction, ultimately culminating in administration
• Lebara, a European telecom business, on the refinancing of the group’s capital structure
• Bain Capital Credit in connection with a $275 million holdco financing and related investment to support Mohegan Gaming & Entertainment’s $1.55 billion Phase 1 development of the INSPIRE Entertainment Resort in South Korea
• an ad hoc group of bondholders to Convene Group in relation to its restructuring by means of a debt-to-equity transaction and subsequent recapitalisation
• Output Services Group, Inc. in connection with its prepackaged Chapter 11 cases. Output Services Group is a leading provider of integrated customer communications and engagement services. The company’s plan of reorganization successfully restructured approximately $825 million of funded indebtedness through a consensual deleveraging of approximately $134 million and new money capital infusion of approximately $70 million. M&A Advisor Turnaround Awards: Information Technology Deal of the Year 2023 – Restructuring of Output Services Group, Inc. through prepackaged Chapter 11 cases (2023)
• Vewd Software in connection with its Chapter 11 proceedings in connection with its plan of reorganization, where pre-petition secured lenders exchanged their existing debt for equity in the reorganized business and provided new capital. M&A Advisor Turnaround Awards: Cross-border Restructuring Deal of the Year 2023 ($100m to $1b) (Restructuring of Vewd Software AS through prepackaged Chapter 11 cases)
• Triton in relation to the €28.7 million refinancing of Cata Electrodomesticos
• a leading Asian investment fund on a receivership appointment over an upstream oil and gas company
• the debtors in connection with a prepackaged plan of reorganisation under Chapter 11, including advising in relation to the application of an English court judgement regarding a shareholder dispute
• a US pharmaceuticals company in connection with an amendment to its credit agreement
• Flint Group in the extension of its credit facilities, which was implemented using a series of parallel schemes of arrangement in England*
• the lender syndicate in relation to the refinancing of a €750 million revolving credit facility to Hemisphere International Properties B.V., the property-owning arm of the Steinhoff Group*
• a global satellite network company on the restructuring of its debt through an exchange offer and English law scheme of arrangement*
• the senior lenders on the financial restructuring of Ambatovy, Africa's largest nickel extraction facility*

*Experience prior to joining Ropes & Gray