(London) Katten Muchin Rosenman UK LLP announced that it advised Global Loan Agency Services (GLAS) in relation to a sale of the shares in the offshore energy services provider Telford Offshore to entities affiliated with Merced Capital.
Appointed as successor security agent in respect of a super senior and senior debt issued by Telford, GLAS conducted the process and sale by way of a competitive sales process. A premier independent, conflict-free provider of loan agency and bond trustee services, GLAS has in excess of €200 billion of assets under administration.
The Katten team, led by Insolvency and Restructuring partner Sonya Van de Graaff and assisted by senior associate Mark Johnson and associate Dominique Hodgson, advised GLAS on all aspects of the process.
Commenting on the deal, Van de Graaff said: "It is always rewarding to conclude a successful restructuring process particularly when it involves saving jobs and facilitating a business's path to success. Working alongside GLAS's expert team has been an absolute pleasure and privilege."