Simpson Thacher represented JPMorgan Chase Bank, N.A., as agent, under The NORDAM Group’s pre-petition first lien revolving credit facility and $45 million debtor-in-possession financing facility in NORDAM’s recently consummated Chapter 11 bankruptcy case. Simpson Thacher also represented JPMorgan, as arranger, administrative agent and collateral agent, in connection with NORDAM’s $100 million senior secured asset-based revolving credit facility and $250 million senior secured term loan facility.
As part of the financing for NORDAM’s emergence from bankruptcy, The Carlyle Group made a $140 million minority equity investment in NORDAM. Pursuant to NORDAM’s plan of reorganization, all of the prepetition creditors were paid in full, including the prepetition first lien revolving credit facility agented by JPMorgan.
NORDAM is a leading independently owned aerospace company. The firm designs, certifies and manufactures integrated propulsion systems, nacelles and thrust reversers for business jets; builds composite aircraft structures, interior shells, custom cabinetry and radomes; and manufactures aircraft transparencies, such as cabin windows, wing-tip lens assemblies and flight deck windows. NORDAM also is a major third-party provider of maintenance, repair and overhaul services to the military, commercial airline and air freight markets.
The Simpson Thacher team included Elisha Graff and Nick Baker (Bankruptcy & Restructuring); Soogy Lee, Brandan Still, Brandon Barton, Mark Haddox, Hyo Min Kim and Melissa Parres (Banking & Credit); CJ Murray (Tax); Melanie Jolson (IP); Tim Mulvihill (Environmental); Abram Ellis and Joseph Betteley (Regulatory); and Dennis Loiacono (Real Estate).