Nitin Konchady

Clients say Nitin has a “…near perfect grasp of current and historical market norms, which is extremely helpful when planning a capital structure” (Chambers UK). He has previously been recognized as an Up and Coming Partner for Capital Markets: High-Yield Products by Chambers UK and a Next Generation Partner for High Yield by Legal 500 UK, and is Highly Regarded for Capital Markets: High Yield by IFLR1000.

Representative experience:

Liability Management / Distressed Financing / Restructuring  

• Ad hoc group of creditors of Accuride, a commercial vehicle components manufacturer, in its ongoing Chapter 11 proceedings with approximately $1 billion of debt obligations
• Ad hoc group of noteholders (including Mudrick Capital, Blantyre Capital and Bayside Capital) of 2U, an online education platform, in its $1 billion financial restructuring and emergence from Chapter 11 proceedings, including related equity rights offering and backstop commitments 
• Mudrick Capital in several financing transactions, including:
• a $275 million investment in senior secured convertible notes and warrants issued by Getaround Inc., a car-sharing business; and
• a $200 million investment in senior secured convertible notes, super-priority senior secured notes and warrants issued by Vertical Aerospace, an eVOTL operator
• Talen Energy Supply, a power generation and infrastructure company, in its Chapter 11 cases with approximately $5 billion in funded debt obligations, including related equity rights offering and backstop commitments, and $1.2 billion offering of senior secured notes as part of its emergence
• Glencore in several financing transactions, including:
• an issuance of a $75 million of senior convertible notes and $225 million of amended and restated senior secured convertible notes by Li-Cycle Holdings; and
• investments in senior secured convertible notes issued by MagIron and Zeb Aluminum
• Ad hoc group of noteholders of Universal Entertainment Corporation, a Japanese manufacturer of gaming products, in its restructuring efforts
• Ad hoc group of noteholders of Digicel Group Holdings Limited, an international mobile phone network and home entertainment provider, in connection with the cross-border restructuring of more than $1.5 billion of indebtedness (including a Bermuda scheme of arrangement and related Chapter 15 proceedings)
• Ad hoc group of noteholders of Ferroglobe, a producer and supplier of specialty metal products and alloys, in its balance sheet restructuring, involving an exchange offer for $350 million of senior secured notes, $60 million issuance of super-priority senior secured notes and a $40 million equity raise
• Norwegian Air Shuttle and its affiliates in the financial restructuring of $5.9 billion of liabilities, implemented via parallel Irish examinership and Norwegian reconstruction proceedings, and related Chapter 15 proceedings
• Ad hoc group of noteholders of KCA Deutag, an international oil and gas services company, in its $1.4 billion restructuring, involving a debt-for-equity exchange and reinstated senior secured notes, implemented via a UK scheme of arrangement and related Chapter 15 proceedings
• Certain funds advised by Goldman Sachs Asset Management, in an investment in Soho House, a private members’ club group, in the form of $440 million (equivalent) senior secured notes and $175 million convertible preference shares
• Ad hoc group of noteholders of Ascent Resources Utica Holdings, a natural gas exploration and production company, in an offer to exchange $925 million of senior notes for a combination of $538 million of second lien term loans and the balance in new senior notes
• Ad hoc group of noteholders of Digicel Group Holdings Limited, an international mobile phone network and home entertainment provider, in the restructuring of $4.3 billion of debt via exchange offers for multiple series of notes, followed by a Cayman scheme of arrangement and related Chapter 15 proceedings
• syncreon Group, a supply chain solutions business, in its financial restructuring involving approximately $1.1 billion of funded debt, implemented via a UK scheme of arrangement and related Chapter 15 proceedings
• Ad hoc group of noteholders of Edcon Group in a $1.5 billion restructuring involving a debt-for-equity swap and the issuance of four sets of high yield notes, implemented via  South African compromise proceedings and related Chapter 15 proceedings
• Ad hoc group of noteholders of SoLocal Group, owner of the French yellow pages business, in the restructuring of its outstanding credit facility and €350 million of senior secured notes, implemented via French sauvegarde proceedings
• Ad hoc group of noteholders of Enquest, a petroleum exploration and production company, in an exchange of $650 million in senior secured notes into new securities with a payment-in-kind toggle linked to oil prices, and the amendment and restatement of £155 million of senior notes, implemented via a UK scheme of arrangement and related Chapter 15 proceedings

Leveraged Finance / Debt Capital Markets

• Goldman Sachs and the other initial purchasers on Rain Carbon’s $450 million offering of senior secured notes to refinance existing debt
• NEOGEN Corporation, an international food safety company, in the bridge and bond financing for its $5.3 billion combination with the Food Safety business of 3M, in a Reverse Morris Trust transaction that implied an enterprise value of the combined company of $9.3 billion
• Shareholders in connection with the financing of KCA Deutag’s acquisition of certain on-shore oil rig assets from Saipem S.p.A. and related private placement of $200 million holdco PIK notes and $250 million senior secured notes
• Kiwi.com, an online travel business and portfolio company of General Atlantic, in a €100 million issuance of convertible notes
• Iron Mountain Incorporated, an information management services company, in several financing transactions, including:
• bridge commitments and $750 million offering of senior notes to finance its acquisition of ITRenew; and
• a $1.1 billion offering of senior notes to refinance existing debt
• Ares Management Corporation in the preference share financing for CD&R’s take-private of Morrisons, a UK grocery business
• Advent International in several financing transactions including:
• its $8.1 billion take-private offer for Swedish Orphan Biovitrum AB, a pharmaceutical company (abandoned)
• its £4 billion acquisition of Cobham plc, a UK-based defense components manufacturer
• Initial purchasers on offerings of more than $5.0 billion of notes by Royal Caribbean Cruises
• Broadstreet Partners, an insurance brokerage business and portfolio company of Ontario Teachers’ Pension Plan, in its $400 million inaugural offering of senior notes to refinance existing debt and $325 million follow-on offering to finance an acquisition
• InPost S.A., a logistics company, in its €490 million inaugural offering of senior notes to finance the acquisition of Mondial Relay
• Southeastern Grocers, a grocery business, in its $325 million offering of senior secured notes to refinance existing debt
• Goldman Sachs and the other initial purchasers on Great-West Lifeco’s $1.5 billion multi-tranche offering of senior notes to finance in part the acquisition by its subsidiary, Empower Retirement, of the retirement services business of Massachusetts Mutual Life Insurance Company
• Initial purchasers and investors in several financing transactions for TeamSystem, an Italian accounting software developer, including:
• the €600 million senior secured bridge and bond financing for Hellman & Friedman’s acquisition of TeamSystem;
• a €120 million private offering of senior secured notes;
• a €300 million issuance of PIK toggle notes in connection with a fund-to-fund transfer; and
• a €185 million follow-on issuance of senior secured notes for bolt-on acquisitions
• Barclays and the other initial purchasers in CVC portfolio company Domestic & General’s £635 million (equivalent) offering of senior secured notes and senior notes
• Investors in GEMS Education’s offering of senior secured notes
• Novalpina Capital in a €200 million bridge and senior secured notes offering to finance its take-private of Olympic Entertainment Group, an eastern European gaming operator listed on the NASDAQ Tallinn Exchange
• Paprec Group, a French recycling business, in several financing transactions, including:
• a €225 million senior secured bridge and bond financing for its acquisition of Coved; and
• a €800 million offering of senior secured notes to refinance existing debt
• Infopro Digital, a business-to-business information services provider and portfolio company of TowerBrook Capital Partners, in several financing transactions, including:
• its €500 million inaugural offering of senior secured notes; and
• a €150 million senior secured bridge and bond financing for its acquisition of DOCUgroup
• Initial purchasers and arrangers in several financing transactions for Verisure Securitas Direct, a Swedish security alarm manufacturer and Hellman & Friedman portfolio company, including:
• the €2.7 billion senior secured bridge and bond financing for Hellman & Friedman’s acquisition of Bain Capital’s holding in Securitas Direct;
• a €1.145 billion (equivalent) offering of senior notes to refinance existing debt, and related consent solicitation;
• a €400 million offering of senior secured notes and senior notes to refinance existing debt; and
• a €1.6 billion senior secured notes and senior secured credit facility financing to refinance existing debt
• Shop Direct, a UK online shopping business and portfolio company of Ellerman Investments, in its inaugural £550 million offering of senior secured notes
• Goldman Sachs, UBS and the other initial purchasers in the inaugural €275 million offering of senior secured notes by Lima Corporate, an Italian orthopedic medical device provider and portfolio company of EQT Partners
• J.P. Morgan, Barclays and Jefferies in a $265 million bridge and senior notes offering to finance Triton’s acquisition of WernerCo, a U.S.-based ladder manufacturer and distributor
• Investors in Naviera Armas’ €50 million private offering of senior secured notes
• Goldman Sachs, Deutsche Bank, Natixis and Société Générale in several financing transactions for HomeVi, a French care homes business, including:
• a €125 million senior secured bridge and bond financing for its acquisition of Geriatros, a Spanish care homes business; and
• a €328 million senior secured bridge and bond financing for its acquisition of SARQuavitae, a Spanish care homes business
• AMC Entertainment in a $1.15 billion bridge facility to finance its acquisition of Odeon Cinemas
• Perform Group, a portfolio company of Access Industries, in its £175 million inaugural offering of senior secured notes
• Goldman Sachs, Deutsche Bank and J.P. Morgan in a an offering of senior secured notes by PizzaExpress, a portfolio company of Hony Capital
• Centerbridge Partners in an offering of senior secured notes to finance its €1.2 billion acquisition of Senvion, a German wind turbine manufacturer

Equity Capital Markets  

• Goldman Sachs, Banco Itau BBA and the other underwriters and placement agents on Oncoclinicas do Brasil Servicos Medicos’ approximately $700 million initial public offering and listing on the B3 - Brazil Stock Exchange
• InPost and the selling shareholders on the initial public offering and listing of InPost on the Euronext Amsterdam, the then-largest ever European technology IPO
• Ardian and Sofina in their €80 million sale of shares in Mersen via an accelerated bookbuild process
• Kinder Morgan Canada Limited in its CDN$1.75 billion offering of restricted voting shares
• Centerra Gold in its CDN$170 million offering of subscription receipts, representing a right to receive common shares, to finance its acquisition of Thompson Creek Metals Company
• First Quantum Minerals in its CDN$1.5 billion offering of common shares and listing on the Toronto Stock Exchange
• Advent International in its £60 million sale of shares in DFS Furniture plc via an accelerated bookbuild process
• General Atlantic in its €120 million sale of shares in Axel Springer via an accelerated bookbuild process
• Advent International in multiple sales of shares in Equiniti plc via accelerated bookbuild processes
• Initial public offerings and rights issuances by Brit Insurance, FirstGroup, RSA Insurance Group, Stock Spirits Group, etc. (while at previous firm)