The Firm represented JPMorgan Chase Bank, N.A. and Deutsche Bank Trust Company Americas as administrative agents under four credit facilities in connection with the merger of directory publishers Dex One Corp. and SuperMedia Inc. (now known as Dex Media Inc.). The merger was effectuated pursuant to prepackaged chapter 11 cases for Dex One and SuperMedia, with their respective plans of reorganization being confirmed by the Delaware Bankruptcy Court on April 29, 2013.
The merger of two public companies through a prepackaged bankruptcy is one of the first of its kind. In connection with the merger, there was a re-pricing, extension of the maturity dates and documentation of intercreditor arrangements for approximately $3.1 billion of senior secured debt spread across the four credit facilities.
The combined Dex Media is one of the largest national providers of social, local and mobile marketing solutions through direct relationships with local businesses.
The Simpson Thacher team for the transaction included: Patrick Ryan, J.T. Knight, Andrew Veit, Stephanie Rotter and Eric Schulman (Banking); Steve Fuhrman, Sandy Qusba, Kathrine McLendon, Nicholas Baker, Terry Sanders and Jason Pearl (Restructuring); Jonathan Goldstein and Devin Heckman (Tax); Lori Lesser and Genevieve Dorment (Intellectual Property).