Weil advised Foundever Group on its holistic recapitalization in coordination with 95.4% of the lenders under its term loan facility, 100% of its revolving credit facility lenders and Foundever’s existing majority shareholders.

The transaction included a $225 million common equity investment by Foundever’s existing majority shareholders and a term loan facility exchange that reduced the company’s total debt by nearly $900 million. The transaction also extended the maturity of Foundever’s revolving credit facility by more than four years to December 2030 and the maturity of its term loan by more than two and a half years to March 2031. In addition, certain revolving credit facility lenders provided a new three-year, $225 million global accounts receivable financing facility, replacing Foundever’s prior factoring arrangement and further strengthening liquidity. The recapitalization strengthens Foundever’s financial position and provides additional flexibility to invest in its long-term growth strategy.

The Weil team was led by Liability Management and Strategic Capital Solutions Global Head Justin D. Lee and Paris Restructuring Co-Head Céline Domenget-Morin and included New York Banking & Finance partner Thomas Mastoras, counsel Evan Nichols and associates Enrique Lopez Scherer, Tess Savage, Thomas Heilborn and Sammy Silberberg and law clerk Greg Berces (Not Yet Admitted in U.K.); Global Chair of the Restructuring Department Matt Barr, New York Restructuring partner David Griffiths, London Restructuring partners Jenny Davidson and Gemma Sage, counsel Alejandro Bascoy, associates Michael Creme, Ismail Buffins, Laura Saliy (Not Yet Admitted in New York), Gabriella Nordlund and François Roumec; Structured Finance partner Jeffrey Dawidowicz, counsel Joel Hutman and associate Sarah Bruley; Mergers & Acquisitions partners Mariel Cruz and Gavin Westerman, counsel Barrett Schitka and associates Alex Schnapp and Vincent Calderon; International and Cross-border Tax Head Devon Bodoh and Tax associates Jonathan Vita and Ricardo Fernandez; London Banking & Finance partner Alex Eagle, counsel Oliver Trotman and associates Martin Bontea, Anthony Nwokenna and Dumani Headley and trainee associate Manasi Kamthe; London Private Equity M&A Jack Gray, senior consultant Ian Hamilton and associate Ada Lam; and London Tax partner Oliver Walker, counsel Stuart Pibworth and Akash Mehta, and associate Anna Ritchie.