Simpson Thacher is representing Anagram Holdings, LLC (“Anagram”), a leading manufacturer of foil balloons and inflated décor, in its pending chapter 11 cases pending before the United States Bankruptcy Court for the Southern District of Texas. In the chapter 11 cases, Anagram intends to implement a sale transaction for substantially all of its assets.
Prior to the commencement of the chapter 11 cases, the Firm advised Anagram in connection with its exploration of restructuring alternatives and negotiations with creditor constituents. Simpson Thacher also represented Anagram in connection with the sale and marketing process for its assets, including the negotiation of a “stalking horse” asset purchase agreement with the company’s existing first lien noteholders, which is subject to better or higher offers. The Company also obtained debtor-in-possession financing from the stalking horse bidder.
The Simpson Thacher team includes Sunny Singh, Nicholas Baker, Soogy Lee, Moshe Fink, Ashley Gherlone and Michal Zabadal (Restructuring); Benjamin Heriaud and Asha Amin (Capital Markets); Sara Asrat (Credit); Patrick Naughton and Felicity Bell (M&A); Russell Light (Tax); and Tristan Brown and Jeffrey Penn (Executive Compensation and Employee Benefits).