New York (May 19, 2010) - Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that the firm advised window maker Atrium Companies, on the sale and financing related to the company’s balance sheet restructuring and emergence from chapter 11.
Atrium has reduced its outstanding debt by almost 60 percent, from $680 million at the time of filing to approximately $280 million at emergence from chapter 11. In addition, the company has secured $170 million in new equity from Golden Gate Capital and Kenner and Company and $280 million in new debt financing.
As a result of the restructuring, Golden Gate Capital and Kenner and Company have acquired 92.5 percent of the reorganized company’s new common stock and former bondholders have received the remaining 7.5 percent of the reorganized company’s new common stock.
Partners Michael Chernick, Rick Denhup, Luke Iovine and Joel Simon led the Paul Hastings team, which included associates Karen Contoudis, Ingrid Fuentes, Claudia Kim, Jonathan Suk and Bret Votano.
Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.