We advised the Ad Hoc Group of Buenos Aires Bondholders on the Province of Buenos Aires’s restructuring of US$7.1 billion of external debt. The deal concluded 17 months after the province launched its first restructuring offer, which was rejected by the bondholder group and other investors. Following months of negotiations and the commencement of legal action on behalf of bondholders against the province in New York court, a successful agreement provided for the exchange and/or amendment of 11 series of outstanding bonds for new bonds maturing in 2037.

We advised Vallourec's ad hoc group of bondholders and revolving credit facility, led by Apollo, SVP, Bybrook and M&G, on the negotiation of an agreement in principle reached as part of the financial restructuring of Vallourec, the world leader in premium tubular solutions for the energy markets and for demanding industrial applications.

We advised affiliates of Oaktree Capital Management, L.P., Centerbridge Partners, Cross Ocean Partners, Barings LLC and Canyon Partners, LLC on the refinancing and upsizing of the existing credit facilities of the Odeon Cinemas group, AMC Entertainment Holdings, Inc.'s theater-operating subsidiaries in the UK and continental Europe. The new £400 million financing will refinance existing debt and provide liquidity to the cinema chain, which has suffered from depleted audiences during the coronavirus crisis.

We advised the coordinating committee of agent banks and lenders representing holders of US$5.6 billion of senior secured indebtedness across 12 credit facilities in connection with the ongoing US chapter 11 bankruptcy cases of Seadrill Ltd. and its affiliates.

We advised Coöperatieve Rabobank U.A., New York Branch, as agent, for a pre-petition credit facility for US$188.8 million, a post-petition credit facility of up to US$425 million and a pre-petition accounts receivable securitization facility of up to US$450 million, collectively totaling up to US$850 million, for the chapter 11 cases of Southern Foods Group, LLC (formerly known as Dean Foods Company) and its affiliated debtors.