Press & Awards

Reorg Financial Advisor/Investment Banker League Tables Featured in TMA NYC Semi-Annual Newsletter

“Reorg tracks nearly every aspect of medium and large sized chapter 11 bankruptcies, from our editorial content covering case developments in real time to our robust data offerings tracking important case details over time. In particular, our Advisor Fee data set, found exclusively on Credit Cloud, captures an enormous amount of data on advisor engagements and fees.

In this story we aggregate and share some of our advisor fee data for the first time, highlighting trends in financial advisor and investment banker engagements in medium to large chapter 11 cases (generally $100 million in liabilities or more).”

Tuesday 01/17/2023

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Reorg’s Coverage of Morfini’s Financial Restructuring is Cited in Shipping Italy

“The financial restructuring of the shipowning company Morfini of Bari is enriched by a twist. The composition with creditors plan presented by the Morfini family, which controls the shareholding of the shipping company. To reveal the existence of a second debt restructuring proposal for creditors was Reorg which in an article explains how “a creditor has submitted to the court of Milan an arrangement with creditors as an alternative to the one filed by Morfini in April 2022 with the ambition of offering an improvement proposal for creditors”. According to Italian bankruptcy law, creditors who hold at least 10% of a company’s debt exposure can make competing composition proposals.”

Friday 11/25/2022

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Reorg and FinDox to Combine to Offer Best-In-Class Solutions for the Credit Markets

“Adding FinDox’s data management capability together with its compliance management tools and ESMA reporting will further enhance Reorg’s portfolio of data, analysis and workflow tools.”

Wednesday 11/09/2022

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Reorg Analysis on Asos Cited in The Times

“Reorg reported last week that a group of lenders are planning to submit a bid for the chain, which would see their debt converted into equity. According to Sky News, Sports Direct tycoon Mike Ashley, is also interested in making a bid.”

Sunday 10/16/2022

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Reorg’s Harvard Zhang Cites on Forma Brand Possible Chapter 11

“Forma Brands, the parent company of Morphe, Lipstick Queen and Jaclyn Hill’s Jaclyn Cosmetics, is considering filing for Chapter 11 bankruptcy, sources confirmed.”

Sunday 10/13/2022

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FurnitureToday cites Reorg on Serta Simmons Bedding

“Advisors to a group of Serta Simmons Bedding lenders have reportedly signed non-disclosure agreements to discuss possible restructuring of the mattress company that could include a Chapter 11 filing, according to Reorg.”

Monday 09/24/2022

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Sportico cites Reorg on Diamonds Sports

“Reorg, a media outlet focused on the distressed debt, high-yield and leveraged-finance markets cited in the initial report, believes filing for Chapter 11 would be a costly outcome for the leagues and their teams—more for some teams than others.”

Monday 09/14/2022

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Insider cites Reorg on Macau’s Gaming Sector

“The sharp decline in Macau gross gaming revenue (GGR) alongside a new requirement for casino operators to pay gaming taxes based on a minimum annual target GGR has had and will have a negative impact on their profitability,” Leon Leong, a senior analyst at Reorg, told Insider. Reorg provides intelligence on financially distressed companies.

Monday 09/14/2022

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Wall Street Journal cites Reorg on SmileDirectClub’s Debt Challenges

Reorg’s analyst Krishan Sutharshana was quoted in a Wall Street Journal article on SmileDirectClub. Since it’s initial public offering in 2019, the Nasdaq-listed shares are down 90%. In April, the company borrowed $255M, but had to pledge intellectual property and receivables cash linked to its consumer financing unit as collateral. That loan came with an effective interest rate of over 13%, including a portion that is paid in kind.

Monday 08/22/2022

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Tradewinds Cites Reorg Reporting on Altera Infrastructure’s Missed Bond Payment

Reorg reporting that New York-listed shipowner Altera Infrastructure missed a bond payment and is preparing a potential filing for Chapter 11 bankruptcy protection to tackle its debt load was cited by the leading shipping trade publication Tradewinds. The publication also cited Reorg’s reports that bank lenders are advised by law firm Norton Rose Fulbright and investment bank PJT Partners, and Altera has tapped law firm Kirkland & Ellis and investment bank Evercore.

Monday 08/08/2022

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Proprietary Restructuring Risk Index now in Credit Cloud

The RRRI leverages Machine Learning (ML) and Natural Language Processing (NLP) to classify and extract data from publicly available documents and press releases such as annual reports, earnings updates, M&A activity and staff changes. The data science model sorts these numerous documents, identifies patterns and provides a scoring mechanism to predict the likelihood of U.S. publicly traded companies filing for bankruptcy. The model is trained off of Reorg’s unique historical database of in- and out-of-court restructuring events and all public disclosures leading up to those restructuring events.

Thursday 08/18/2022

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Reorg Mentioned in Hedge Fund Journal ‘Tomorrow’s Titans’ Series

Tomorrow’s Titans 2022: Andreas Meyer; Event-driven European credit alpha.
‘As well as sell side and proprietary research, Meyer finds Reorg, which has a big team of lawyers and analysts looking at high yield, a valuable independent resource that expands his bandwidth.’

Thursday 08/01/2022

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Permira Announces Strategic Investment in Reorg

Permira, the global private equity firm, today announced that funds advised by Permira have agreed to make a strategic investment in Reorg (“Reorg” or the “Company”), a leading global provider of data, analytics and intelligence for the credit markets. As part of the transaction, Warburg Pincus will sell its majority shareholding in Reorg to Permira, and the Reorg team will retain a significant ownership interest. Financial terms of the transaction were not disclosed.

Monday 08/01/2022

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Reorg’s Junguang Tan Cites in Mingtiandi on Chinese developer Sino-Ocean Group Holding

“With supporting infrastructure around the asset likely to improve in the future such that it would be value-accretive, the seller could have held on to the asset longer and avoided selling it at a fairly large discount to appraised fair value unless it really needed the liquidity in a short period of time,” said Junguang Tan, Director of Asia Core Credit at credit intelligence and analytics firm Reorg.

Friday 06/16/2022

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Reorg Breaks News on Revlon Chapter 11 Filing

Reorg [Research] first reported Revlon was planning to file for bankruptcy. Cosmetics maker Revlon Inc (REV.N) is preparing to file for chapter 11 protection as soon as next week, the Wall Street Journal reported on Friday… Revlon, whose shares declined 46%, did not immediately respond to a Reuters request for comment.

Reorg reporting was quickly picked up by the Wall Street Journal, Reuters and others.

Friday 06/10/2022

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Italy’s Il Sole 24 Cites Reorg’s Reporting on Moby Restructuring

Moby rescue, Aponte ready to put more resources (and ships)

Thursday 06/09/2022

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The Journal of International Banking and Financial Law features article Written by EMEA Covenants Lawyers

Intralot’s drop-down restructuring games: priming pari passu noteholders, circumventing non-consenters and artificially reducing asset values

Monday 05/30/2022

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Reorg Launches Credit Cloud

Credit Cloud Provides an Easy-to-Use Portal for Analyzing Restructuring and Leveraged Finance Data

“With Credit Cloud, the power to utilize Reorg’s data is now in the hands of our subscribers, enabling them to discover, extract and analyze the information that matters for their daily workflows,” said Kent Collier, Reorg’s CEO. “We will continue to innovate and add data sets to the platform to reduce the arduous amount of time it takes for our users to get to and slice the data they need to be successful, no matter if they are an investor, lawyer or advisor.”

Tuesday 04/12/2022

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Seth Brumby Speaks to The Wall Street Journal about Munis Investors’ Interest in Senior Living Facilities

Several senior-living borrowers that considered issuing debt in 2020 and then opted against it, moved forward with selling bonds in 2021 after finding the market more receptive, said Seth Brumby of Reorg, a credit-research firm. The risky debt is a welcome addition for many high-yield funds trying to put investor cash to work.

Tuesday 01/04/2022

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The Guardian Quotes Reorg’s Shasha Dai on the Chinese Property Sector

Reorg’s Shasha Dai was quoted in The Guardian on the crisis engulfing the Chinese property sector, saying: ‘the Chinese government was “deeply involved” in Evergrande’s restructuring and that the number one priority was to maintain “social stability”.’

Friday 12/31/2021

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EMEA Covenants data cited by The International Comparative Legal Guides

‘A Comparison of Key Provisions in U.S. and European Leveraged Loan Agreements’

Early European deals featured increasingly sponsor-friendly terms, continuing the erosion of lender protections that characterised the leverae loan market towards the end of 2019. Subsequently, and as the European market slowed and amidst growing uncertainty as to the speed of any post-pandemic recovery, lender friendly terms.

Wednesday 12/08/2021

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Kyle Owusu discusses a potential IPO for Digicel IPO with Ireland’s Business Post

The sale of the business will give Digicel some much-needed flexibility on its balance sheet, and has prompted some market analysts to specualte that O’Brien may make a second attempt at an IPO for his company. “Digicel would still need to lower its debt before attempting anything, but I wouldn’t be surprised if Denis O’Brien entertains the idea of an IPO in a best-case scenario,” Kyle Owusu, director of emerging markets credit research at Reorg, the global credit, data and analytics firm told the Business Post.

Thursday 10/31/2021

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Shipping Italy uses Reorg’s Analysis on Italian Ferry Operator Moby

According to Reorg, as part of the Memorandum of Understanding signed last September by the same ship-owning group together with a large slice of bondholders (including the funds Cheyne Capital, Aptior Capital and BlueBay), the company is preparing an improvemed proposal compared to that envisaged by the concordato plan filed with the Milan court last spring.

Thursday 10/25/2021

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Reorg’s Head of Credit Research Jenn Jutakeo Interviewed by BBC World on China Evergrande

Our Head of Credit Research, Jenn Jutakeo was pleased to join BBC News this morning to discuss the ongoing situation at embattled Chinese real estate developer Evergrande Group during the Asia Business Report segment, saying: “All eyes will be on [Evergrande] today, but the real question is what will it look like if they address foreign creditors before onshore, when they still have quite a bit of onshore debt to address”.

Thursday 09/23/2021

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Reorg Analysts Interviewed by The Guardian on the Looming China Evergrande Crisis

“James Shi and Simon Lee of the data analytics firm Reorg said Beijing’s priority would be to keep Evergrande in business – even if its in a zombified form – in order to finish the estimated 1.4m homes the company has pre-sold. “This is the top priority for them and the government, they said. “Nobody wants thousands of angry people demanding their money back.”

Saturday 09/18/2021

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Reorg’s Reporting on Evergrande Picked up by Bloomberg

“Kirkland & Ellis LLP and Moelis & Co. have been hired as advisers by some holders, Reorg reported, but it’s likely that other legal and financial advisory firms will be hired too, leading to multiple groups of stakeholders within the cohort of international buyers.”

Friday 09/17/2021

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Bloomberg cites Reorg’s Breaking News on Evergrande Bondholders Choosing Legal and Financial Representatives

“Investors are increasingly losing confidence. Some holders of Evergrande’s offshore bonds have recently chosen legal and financial representatives, Reorg reported Thursday. One major shareholder sold more of the company’s stock, a filing showed.”

Thursday 09/16/2021

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Asia Financial Cites Reorg’s James Shi on Chinese Property Developer Evergrande

“Evergrande defaults are largely priced in the market, and the recovery ratio is likely to be lower in the case of an expected restructuring, James Shi, a distressed debt analyst at credit analytics provider Reorg, said. The market is pretty certain that Evergrande will default,” Shi said. A very low recovery ratio would be due, partly because of deep losses in many of Evergrande’s secondary businesses, which make them difficult to liquidate, he said.”

Thursday 09/16/2021

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The Guardian Cites Reorg’s Analysis of Property Developer Evergrande

“Analysts at… Reorg described in a recent report how the disputes over contractor payments intertwined with Evergrande’s large exposure of unfinished properties that buyers – as is common in China – have already paid for upfront. In extreme cases, if China Evergrande fails to complete pre-sold property projects on time, due to inability to pay contractors, China Evergrande will be liable to the purchasers for their losses, ” Reorg said.”

Tuesday 09/14/2021

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Reuters Cites Reorg’s Analysis of Distressed Chinese Property Developer Evergrande

“Evergrande’s announcement flags the first step of a restructuring, which usually involves either delay in interest payment, no interest payment or delay together with haircuts,” said James Shi, distressed debt analyst at credit analytics provider Reorg.”

Tuesday 09/14/2021

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The Sunday Times cites Reorg’s reporting on €1.3bn Beauparc sale

“Massive profit margins earned by Ireland’s biggest bin collectors, Greenstar and Panda, helped to propel the waste group Beauparc Utilities to its €1.3 billion sale.

Reorg, a global credit intelligence publisher, reports that the debt deal “faces some concerns over potential regulatory pressure on the company’s highest-margin segment . . . Irish residential waste collection”.

Sunday 07/25/2021

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Reorg’s Head of Data Science Shares Big Potential Benefits Of Next-Gen Smart Cities with Forbes.com

“Smart cities would likely make us safer and more productive by handling municipal functions using the unbiased and rational decision-making processes of smart technology, free from human fatigue, emotion and associated error. – Sreekanth Mallikarjun, Reorg”

Monday 07/19/2021

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EMEA Covenants Data Shared in Speech by ECB Head of Supervision Andrea Enria

“The expansion of the market in a search-for-yield environment was characterised by increasingly loose underwriting standards. On the one hand, leveraged loans were underwritten to attract corporates with increasingly higher levels of leverage, as shown by the borrowers’ outstanding debt becoming an ever-growing multiple of their earning capacity (as measured by earnings before interest, taxes, depreciation and amortisation – Chart 11).”

Wednesday 07/02/2021

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Reorg’s Reporting on Florida Real Estate Deal Cited by Orlando Business Journal

“Iconic former Nickelodeon Hotel included in $360M portfolio sale…”

Monday 06/28/2021

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EMEA Covenants ESG Data Featured in Reuters

“In recent years, borrowers have been able to get a reduction in their interest costs in return for meeting targets linked to environmental, social and governance (ESG) goals. That trend has been turbocharged this year by private equity firms seeking a piece of the action. Issuance of ESG-linked leveraged loans this year was up 14-fold to 19 billion euros by May compared to 2020, according to Reorg.”

Friday 06/09/2021

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Reuters Video: Where are All the Retail Bankruptcies?

Ian Howland from our First Day by Reorg team talks to Reuters Video about the kinds of retailers that have filed for bankruptcy so far this year and why there are fewer of them.

Wednesday 06/06/2021

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Reorg and Solve Advisors Announce Integration Partnership

Kent Collier, founder and CEO of Reorg, said of the partnership, “Access to dynamic bond and loan pricing is essential for our subscribers whether it be the buy-side, legal or advisory and banking community. As Reorg’s coverage and data offerings have expanded globally, now tracking most of the world’s sub-investment grade corporate credits, an all-encompassing data partner like Solve is fundamental to satisfy the needs of our customers. We are very excited to deliver this integrated offering to the Reorg platform.”

Wednesday 05/19/2021

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ESG Investor Magazine Publishes EMEA Covenants Article on ESG Margin Ratchets

Shweta Rao, Head of EMEA Covenants at Reorg, offers an overview of ESG margin ratchet provisions, emerging trends, and areas for future development. “Transactions with ESG margin ratchets are gathering steam in the European leveraged loan market and are being embraced by borrowers and investors alike.”

Monday 05/07/2021

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Hedgeweek Magazine Covers the Launch of Reorg’s new CLO Database

Reorg will receive underlying holdings and collateral data of the CLO universe from Moody’s Analytics to map to their default data and research. Moody’s Analytics CLO data covers USD872 billion in total CLO assets. Reorg’s new offering will give subscribers access to syndicated loan ownership data in a searchable, sortable format to enhance investment and advisory decision-making.

Wednesday 04/28/2021

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Finextra Highlights Reorg and Moody’s Analytics Partnership on CLO Data

Reorg and Moody’s Analytics strike data sharing agreement for CLO and loan investors. “We believe that Moody’s Analytics CLO holdings data coupled with our core credit dataset will be one of the most popular offerings on our platform,” said Kent Collier, founder and CEO of Reorg.

Wednesday 04/28/2021

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Reorg and Moody’s Analytics Collaborate on Resources for CLO and Loan Investors

“We believe that Moody’s Analytics CLO holdings data coupled with our core credit dataset will be one of the most popular offerings on our platform,” said Kent Collier, founder and CEO of Reorg. “Given the growth of the leveraged loan market, having an understanding of who owns what loans will be incredibly valuable to our subscribers, and reflects Reorg’s data-focused approach to leveraged finance workflow solutions.”

Monday 04/26/2021

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Financial Times Cites Reorg’s Breaking News on Huarong’s Potential Debt Restructuring

“Media reports of a potential restructuring at Huarong have added to investor fears. On Tuesday evening in Asia, the prices of Huarong dollar bonds were hit after U.S.-based research firm Reorg reported that Chinese regulators were considering a restructuring, citing sources familiar with the matter.”

Wednesday 04/21/2021

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Bloomberg Cites Reorg Report on Huarong’s Potential Debt Restructuring

“China Huarong Asset Management Co.’s dollar bonds sank Tuesday after Reorg Research reported regulators are considering options for the company that include restructuring the debt of its offshore unit. A debt restructuring is one of several options under discussion and a decision is far from finalized, according to the report, which cited people familiar with the matter.”

Tuesday 04/20/2021

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The Sunday Times Cites Reorg’s Reporting on Learning Pool

“Learning Pool allows public and private sector clients to develop online education programmes for employees. It claims to have 1,100 customers and 5.5 million active learners. CCI acquired Learning Pool, its only investment outside of the Republic of Ireland, in 2016 for £20 million (€23 million). According to Reorg, a capital markets intelligence website, CCI has hired Baird, an American investment bank, to find a buyer.”

Sunday 04/18/2021

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Reorg Hosts ‘Private Credit in Asia’, an APLMA Webinar

Stephen Aldred, Managing Editor of Reorg’s Asia Core Credit team, recently hosted a webinar from APLMA — the Asia-Pacific Loan Marketing Association — discussing the private credit market in Asia, alongside Edward Tong, Managing Director, Head of Private Debt Asia at Partners Group.

Monday 03/31/2021

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Global Finance Magazine Speaks with Reorg on the Current Secured Lending Boom

“The pandemic saw stressed issuers like Carnival, Norwegian Cruise Line and United Airlines make creative use of their assets such as ships, islands and airplanes to raise liquidity when they needed it.” Our Head of EMEA Covenants Shweta Rao and Head of Americas Covenants Peter Washkowitz recently spoke to Global Finance Magazine about the cash-burning industries which are using their most valuable assets to secure liquidity during the pandemic.

Tuesday 03/09/2021

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Bloomberg cites Reorg reporting on Equinox Holdings Inc

“Equinox Holdings Inc. got relief on some of its debts tied to the luxury fitness chain’s SoulCycle subsidiary after agreeing to pay down a portion of the borrowings, according to people with knowledge of the matter. Bloomberg last month reported that Equinox was seeking another amendment to the deadline. Representatives for Equinox and SoulCycle declined to comment. Reorg earlier reported details of the agreement.”

Wednesday 02/10/2021

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Reorg Acquires Aggredium

“As part of our global growth strategy, Reorg continues to invest in each of our regions. We are delighted to add Aggredium to the Reorg platform, enhancing our analysis and reporting on the high-yield bond and leveraged loan markets in Europe,” said Kent Collier, founder and CEO of Reorg.

Monday 02/08/2021

Click through to read the full press release on PR Newswire >>

IlSole24 cites Reorg analysis of ferry operator Moby

“According to Reorg, the banks (Moby’s largest creditors are Unicredit, Banco Bpm and Intesa Sanpaolo) will appoint KPMG and Gattai, Minoli, Agostinelli as consultants.”

Sunday 02/07/2021

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Shipping Italy cites Reorg analysis of ferry operator Moby’s concordato

“Reorg reported that the latest proposal just sent by the ferry group to the largest creditors (banks exposed for 260 million, bondholders for 300 million and Tirrenia in extraordinary administration for 180 million) would provide for an unspecified injection of liquidity by the Europa Investimenti fund and two repayment alternatives. “

Wednesday 02/03/2021

Click through to read the article on Shipping Italy >>

Reorg cited in Dagens Naeringsliv on Borr Drilling

“DN knows that the major US bank Citibank last autumn tried to get rid of its entire Borr Drilling loan exposure of 50 million dollars, or a little over 420 million kroner. But bankers found no buyers despite the fact that it lowered the price to 50 percent of payouts in November after first having climbed between 65 and 70 percent the month before. Analysis service Reorg, which specializes in debt, had previously mentioned that an unnamed lender was trying to sell out in October.”

Saturday 01/16/2021

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Reorg analysis of Italian ferry operator Moby cited in Italian finance publication BeBeez

Reorg reported that at the end of July, Moby submitted to its lenders a proposal to repay bonds at a price between 20 and 25 cents and a 10-year extension of the bank debt maturity. The price of the bonds would be paid thanks to the proceeds of the sale of the auxiliary means division.

Thursday 01/07/2021

Click through to read the full article on BeBeez.it >>

Asia Core Credit by Reorg Distressed Debt Analyst James Shi quoted in Nikkei Asia on Tianqi Lithium

China’s struggling Tianqi Lithium has secured two years’ breathing room on some $3.08 billion in debt owed on its purchase of a large stake in a Chilean miner as part of an aggressive global buying spree. James Shi, a distressed debt analyst at financial information company Reorg says, “It would likely be difficult for Tianqi to raise any meaningful amount of additional secured financing in near future for refinance or capital expenditure purposes.”

Tuesday 12/29/2020

Click through to read the full article on asia.nikkei.com >>

Senior Director Shweta Rao contributes to CFO Dive article on loosening covenants

The hunt for yield appears to be behind this trend of weakening protections, says Shweta Rao, senior director at global financial intelligence firm Reorg. “Once an innovation is accepted in one document, it often finds its way into the templates of other sponsors, and then eventually becomes common,” Rao said, pointing to the portability carveout as a change of control in high yield bonds.

Sunday 12/20/2020

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Distressed Debt Analyst James Shi quoted in Nikkei Asia on Tianqi Lithium

“The transaction will provide relief for Tianqi in its current liquidity crunch,” said James Shi, a distressed debt analyst at Reorg. He believes partial repayment of the company’s debt “should give comfort to its existing lenders, along with the fact that at the end of he day, the post-transaction entity TLEA will still be consolidated on Tianqi’s books, and the lithium concentrates will still be shipped to Tianqi’s factory in China to process, as Tianqi still owns priority rights of purchase from Greenbushes.”

Wednesday 12/09/2020

Click through to read the full article on asia.nikkei.com >>

Reorg named Best Distressed Debt Intelligence Product for 2020 by CFI.co

“This is a global accolade which confirms the strength of our business and the expertise of our people around the world,” said Reorg CEO and Founder Kent Collier of the honor. “We were shortlisted in September, and I was interviewed in October, and the judging panel noted that Reorg excels at pooling the ‘power of proprietary data and technology with expertise in restructuring, leveraged finance and M&A to ensure clients have all the facts needed to support informed decision-making.’”

Monday 12/07/2020

Read more about the award on cfi.co >>

Distressed Debt Analyst James Shi quoted in Nikkei Asia on Tsinghua Unigroup

“The strategic importance of Tsinghua Unigroup is definitely overrated,” James Shi, distressed debt analyst at Reorg, told Nikkei Asia. With the exception of Yangtze Memory Technology, its Wuhan-based memory chip maker, Shi believes Unigroup’s competitiveness is not that significant. “Even though they make chips, they are not state-of-the-art chips, and what they make does not solve China’s problem in the semiconductor industry,” he said.

Wednesday 12/04/2020

Read the full article on asia.nikkei.com >>

Distressed Debt Legal Analyst Kevin Eckhardt moderated panel on hospital sales at Beard Group’s Distressed Investing Conference 2020

By utilizing lessons learned from leading the Verity Health successful sales processes through chapter 11 bankruptcy, experts from Berkeley Research Group, Cain Brothers, Dentons, Milbank and Reorg outline a path to competing sale transactions that ensure the future operations of the hospitals even in the most distressed circumstances.

Wednesday 12/02/2020

Watch the full panel here >>

Distressed Debt Analyst James Shi quoted in Nikkei Asia on Tianqi Lithium

“James Shi, distressed debt analyst at Reorg, told Nikkei Asia on Friday that extension of the loan carries ‘higher possibility’ than the other options. For one thing, the lithium industry is strategically important, and the company has a majority holding in the world’s largest lithium mine in Greenbushes, western Australia”.

Wednesday 11/29/2020

Read the full article on asia.nikkei.com >>

Reorg cited in Il Sole 24 as Springwater Capital makes Fintyre offer

“The large turnaround funds put the Italian tire giant Fintyre, a subsidiary of Bain Capital, on the radar, which has opened a blank concordato dossier at the Court of Bergamo. As reported by Reorg, the financial group Springwater Capital has in fact made an offer that includes a capital increase of 50 million euros.

Wednesday 11/25/2020

Read the full article on ilsole24ore.com >>

Reorg cited in Norway’s Dagens Naeringsliv on Seadrill

“Right now, parallel talks are taking place about bank debt and the company’s remaining bond yield. Banks are negotiating to reduce debt to $2 billion, the research firm Reorg said last month.”

Wednesday 11/11/2020

Read the full article here >>

Distressed Debt Analyst Marc Gardner quoted in The Sunday Times on AerCap

“Reorg, a global provider of financial intelligence, has run the numbers on the biggest of all the lessors AerCap, and while it is nowhere near oxygen-mask time, it does suggest the seatbelt signs are on.”

Sunday 11/01/2020

Read the full article on the thetimes.co.uk >>

First Day cited on CFO.com about chapter 11 bankruptcy data

“In other bankruptcy trends, data by Reorg showed that 2020 has been rife with chapter 11 cases. The second quarter saw 138 cases and the third quarter, 133 cases. (The quarterly average since 2016 was 97 cases.) The months of June and July saw 50-plus cases each, but filings slowed in August and September. However, October is looking much busier, according to Jessica Steinhagen, legal analyst at Reorg.”

Tuesday 10/27/2020

Read the full article on CFO.com >>

Distressed Debt Legal Analyst Jessica Steinhagen spoke on bankruptcy trends panel at ABI Insolvency 2020

ABI and its partners welcomed over 1,200 insolvency professionals for six weeks of learning and networking from Sept. 16-Oct. 27. First Day by Reorg Distressed Debt Legal Analyst Jessica Steinhagen provided an update on 2020 filings, citing the team’s recent midyear review.

Tuesday 10/27/2020

Access the First Day 2020 Midyear Review >>

Reorg cited in Shipping Italy on Moby

“Fortress, Clessidra and Europa Investimenti are among the investment funds with which Moby is talking to explore possibilities of collaboration in order to find a white knight to help the ferry company of the Onorato family to present a convincing composition plan for creditors by deadline end of October. This was revealed yesterday by the specialized analysis company Reorg.”

Thursday 10/14/2020

Read the full article on shippingitaly.it >>

Reorg cited in The Irish Times on Swissport

“The group [Swissport] needs funding of between €450m and €570m over the next 14 to 18 months, according to Reorg Research.”

Thursday 08/13/2020

Read the full article on irishtimes.com >>

Reorg cited in Financial Times on Swissport

“The owners of €1.4bn of senior secured bonds issued by Swissport have promised to invest in the business to help it survive the pandemic, which has hit its operations hard with the grounding of flights. Swissport needs funding of between €450m and €570m over the next 14 to 18 months, according to Reorg Research.”

Thursday 08/13/2020

Read the full article on ft.com >>

Reorg cited in the Milwaukee Business Journal about Briggs & Stratton

“Briggs & Stratton appears to be on a direct pathway to bankruptcy after Reorg reported the Wauwatosa-based manufacturer selected private equity firm KPS Capital Partners as a stalking horse bidder with the expectation of a chapter 11 filing in the immediate future.”

Tuesday 07/15/2020

Read the full article on bizjournals.com >>

Senior Director Shweta Rao quoted in the Financial Times on Thyssenkrupp

“Whoever comes around next time and tries to syndicate with these terms will probably think twice…It’s still not a tight covenant package; it’s just not as aggressive as it was before.”

Tuesday 06/30/2020

Read the full article on ft.com >>

Distressed debt analysts quoted in Observer.com on Hertz

“It [Hertz] is seeking to raise funds from shareholders who would only be paid back after all debts are paid. This is a very rare occurrence and unlike anything we have ever seen before. Hertz is effectively taking advantage of a disconnect between debt and equity markets.”

Thursday 06/18/2020

Read the full article on observer.com >>

Reporter Matt Tracy quoted in JD Supra on pandemic-related troubles for the shopping mall industry

“David Simon’s comments regarding how the market should view a company such as Simon as not just a ‘mall company’ but a ‘retail real estate company’ foreshadowed a legal strategy revolving around a comparison between Taubman and a broader set of REITs.

Thursday 06/15/2020

Read the full article on jdsupra.com >>

M&A by Reorg cited in Seeking Alpha about Teradata

“Teradata (NYSE:TDC) shares gain 4.7% after Reorg M&A says the company could attract PE interest due to the cloud shift, which has increased the company’s margins.”

Thursday 06/10/2020

Read the full article on seekingalpha.com >>

Reorg celebrates five years in Europe

“It has been very rewarding to lead the EMEA team from our London office for the past five years as we have grown from just two in those first days to a thriving team of more than 60 today!” said Mario Oliviero, managing director of international credit, of the milestone. “We have extended our analysis and coverage to include middle-market credits; in April 2020 alone our expert team of journalists and financial and legal analysts published 950 articles, up 30% from April 2019.”

Thursday 06/04/2020

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Reorg cited in Bloomberg on GNC

“The bankruptcy loan would keep the Pittsburgh-based company running while it works out a plan to turn around the business and rework its debts, which totaled $895 million at the end of the first quarter. Elements of the loan talks were earlier reported by Reorg.”

Tuesday 06/02/2020

Reorg’s new Legal Billing Rates Database mentioned on LawSites

“The database is the first to use attorneys’ fee data extracted from U.S. Bankruptcy Court dockets, using machine learning and natural language processing. It uses data drawn from interim and final fee applications found within the dockets of the bankruptcy courts for the Southern District of New York and the District of Delaware.”

Wednesday 05/27/2020

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Reorg launches new Legal Billing Rates Database

“As part of our growth strategy Reorg has invested heavily in our legal industry product suite over the last 12 months, building a pipeline of tools that our clients use to discover complex information, delivered in a clear, actionable way,” said Reorg founder and CEO Kent Collier of the launch. “The addition of the Legal Billing Rates Database evidences our commitment to serving the needs of the legal industry and showcases our unique skill in marrying technology with content as well as doing what Reorg does best — bringing clarity to opaque situations.”

Wednesday 05/27/2020

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Director of Emerging Markets Credit Research Kyle Owusu quoted in The Sunday Times on Digicel Restructuring

“I think bondholders were concerned about the alternative: a complicated bankruptcy involving several jurisdictions and several different classes of creditors that may take a long time to achieve, and comes with a lot of uncertainty regarding outcome.”

Sunday 05/24/2020

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First Day by Reorg 2019 Year in Review cited in American Bar Association publication

“As 2019 has come to a close, with Q1 2020 on its way, a look back at 2019’s chapter 11 bankruptcy landscape provides an opportunity to look at the intersection of the law and technology, and in particular the use of data. The data compiled by the First Day team at Reorg reveals a busy year for companies seeking federal bankruptcy protection.”

Monday 05/18/2020

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