Max Silverstein

• Representing ReStore Capital, LLC as administrative and collateral agent to Express, LLC, a multi-brand fashion retailer with more than 550 retail stores, in connection with (i) a prepetition second lien asset-based term loan facility and (ii) a debtor in possession financing facility provided by funds and accounts managed by ReStore Capital, Gordon Brothers and First Eagle in the chapter 11 cases of Express, LLC and certain of its affiliates. 
• Represented three leading credit funds in connection with the purchase of $100M of senior secured notes issued by an industry-leading provider of insurtech solutions.
• Representing Trinseo Materials Operating S.CA., and certain of its affiliates, in connection with a $1.1 billion innovative financing transaction addressing the Company’s 2024 senior secured term loans and $385 million of its 2025 unsecured bonds. Funds managed and advised by Oaktree, Angelo Gordon and Apollo provided the financing. Trinseo (NYSE: TSE) is a specialty material solutions provider that partners with companies to bring ideas to life in an imaginative, smart and sustainability-focused manner.
• Represented Tecomet, Inc., together with certain of its affiliates, in the refinancing of its approximately $1 billion capital structure, including through the provision of a new revolving credit facility and privately placed first-lien term loan. Tecomet is a global leader in the design, development, and manufacture of orthopedic, robotic assisted, and minimally invasive surgical products, as well as precision components for the aerospace and defense industry.
• Represented Juice Plus+ in the negotiation and consummation of an out-of-court restructuring transaction with the unanimous participation of the company’s lenders that reduced the company’s debt and preferred equity obligations by over $300 million, extended the maturities of its revolving credit facility and term loans by four and two years, respectively, and raised $30 million of new money from the company’s existing equity holders who retained control of the company.
• Represented term loan lenders in connection with a $375 million senior secured term loan to the managed care business of Prospect Medical Holdings, Inc.  
• Represented Output Services Group, Inc. and certain of its affiliates 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. In 2023, The M&A Advisor recognized the successful restructuring of Output Services Group as “Information Technology Deal of the Year” as part of its 17th Annual Turnaround Awards.
• Represented funds managed by Cyrus Capital Partners and Keyframe Capital Partners in connection with a $50,000,000 senior subordinated convertible note financing issued by Arcadia Power, a technology company empowering energy innovators to fight the climate crisis.
• Represented a leading global investment management firm in connection with an $80M senior secured term loan facility and warrant package to a technology company focused on the key duplication and locksmith markets.
• Representing Output Services Group, Inc. and its subsidiaries (“OSG”), a provider of customer engagement and payment solutions, in connection with negotiations with lenders under its first and second lien credit facilities and its Sponsor in connection with a $25M debt and minority equity investment by its Sponsor in OSG’s RevoPay business. 
• Represented funds managed by Cyrus Capital Partners and Keyframe Capital Partners as the lead investors in a $150,000,000 second lien convertible note financing issued by Redaptive, Inc., a leading energy-as-a-service provider that funds and installs energy-saving and energy-generating equipment.
• Represented funds managed by Keyframe Capital Partners in connection with a $30,000,000 multi draw term loan facility to finance the growth of a leading operator of a premium fleet of luxury vehicles.
• Represented a portfolio company of a hedge fund in connection with a $117 million term loan facility provided by affiliates of Oaktree Capital Management, L.P., the proceeds of which were used to fund a tack on acquisition and make a distribution to the owners of the business.
• Represented an ad hoc group of first lien debt holders in the chapter 11 cases of  My Alarm Company in connection with DIP Financing and Exit Financing.
• Representing Altamont Capital Partners in connection with its joint purchase of prepetition debt of Alamo Drafthouse Cinemas, an owner and operator of dine-in movie theaters, joint provision of $60 million of debtor in possession financing, and credit bid for a substantial part of the business and assets of Alamo Drafthouse Cinemas through its chapter 11 cases.
• Represented Tronox Holdings plc in its refinancing of certain of its outstanding indebtedness with a global $1.3 billion term loan and revolving credit facility and $1 billion of senior unsecured notes.
• Represented a hedge fund on a DIP loan to Avianca consisting of a loan up to US$1,288,500,000 under a Tranche A Facility and US$702,300,000 under a convertible Tranche B Facility.
• Represented a hedge fund on a DIP loan to LATAM Airlines consisting of a loan up to US$1,300,000,000 under a Tranche A Facility, up to US$750,000,000 under a Tranche B Facility and up to US$1,150,000,000 under a Tranche C Facility. 
• Represented a leading global investment management firm in a US$300M loan and warrant package to a leading real estate mortgage trust.  
• Represented Tronox Holdings plc in a US$500M bond offering of senior secured notes due 2025.
• Represented Cyrus Capital Partners, Keyframe Capital and another leading global investment management firm to provide financing of up to US$100,000,000 in commercial solar loans. 
• Centric Brands: Representing Centric Brands Inc., a leading lifestyle brands collective, and certain of its subsidiaries in their chapter 11 cases to recapitalize approximately $1.8 billion in funded indebtedness. Centric filed with a restructuring support agreement backed by its key funded debtholders, $435 million in debtor-in-possession financing, and a path to a quick and consensual emergence with a capital structure reduced by approximately $700 million.
• A direct lender in connection with its loan and warrant package for a digital mobile advertising company.
• A direct lender in connection with its loan and warrant package for a digital insurance brokerage business. 
• Represented VIP Cinema Holdings, Inc. and certain of its affiliates (“VIP”), a multinational enterprise that is one of the largest manufacturers, and a pioneer, of luxury seating products for movie theaters, in its prepackaged Chapter 11 case in Delaware. In connection with its restructuring, VIP reached agreements with its first lien and second lien lenders, and its private equity sponsor, prior to filing the Chapter 11 case to deleverage its balance sheet by approximately $178 million.
• Tronox Limited: Represented Tronox Limited in connection with a $2.15 billion term loan; $550 million asset-based revolving credit facility; $450 million 5.75% Senior Notes due 2025; $1.5 billion global term loan; $300 million global ABL; $900 million bond offering; $100 million Rand-denominated working capital facility, $615 million 6.5% Senior Notes due 2026.*
• Claire’s Stores: Represented ad hoc group of creditors in chapter 11 cases filed in the United States Bankruptcy Court for the District of Delaware. The ad hoc group sponsored a chapter 11 plan of reorganization that eliminated approximately $1.9 billion of debt from the company’s balance sheet and provided the company with $575 million in new capital.*
• Investcorp: Represented Investcorp in the financing for its acquisition of Revature.*
• FFL Capital Partners: Represented FFL Capital Partners in its financing for its acquisition of Summit Behavioral Health.*
• Rolls-Royce: Represented institutional investors in connection with senior secured notes issued by an affiliate of Rolls-Royce plc.*

*Experience prior to joining Ropes & Gray