Our experienced team takes a multidisciplinary approach to liability management that combines a deep understanding of business trends and legal frameworks with Sidley’s global reach and perspective. Collaborating seamlessly across the firm’s market-leading restructuring, leveraged finance, capital markets, private funds, litigation, M&A, shareholder activism, crisis management, public company advisory, tax, and securities enforcement and regulatory practices, we provide clients with strategic advice on a range of complex and bespoke capital structure and liability management transactions.
Our liability management lawyers help clients — including public and private companies, sponsors and sponsor portfolio companies, ad hoc lender groups and other investors and lenders — address a wide range of capital structure matters relating to their debt, including:
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How We Add Value
Drawing upon our knowledge of the latest financial products and technologies, as well as our experience handling dynamic and rapidly changing situations, we help clients navigate their most complex liability management challenges. We harness the full strength of our litigation and restructuring capabilities at the outset of a matter to minimize litigation risk, strategically analyzing all available alternatives for maximizing the value of the enterprise. This includes extending runway, preserving equity value and/or taking advantage of below par debt prices, using effective liability management tools such as up-tiers, drop-downs, “double dip” and “triple dip” structures, tender offers, exchange offers, out-of-court debt for equity swaps, rescue financings, structured debt and equity financings, prepacks and exit financings, and amend and extends. Additionally, we develop bespoke, non-conventional capital structure solutions for our clients as needed.
Our liability management lawyers focus on developing innovative, commercial strategies to guide clients through the company and stakeholder elements of financial distress and take advantage of opportunistic market displacement. We work closely and discreetly with all constituents to find mutually beneficial solutions and value maximization strategies, employing a variety of sophisticated structures to manage liabilities and achieve quick resolutions while keeping clients out of court and freeing them to focus on their core business operations.
