Greenhill & Co. Announces Recapitalization Plan

October 12, 2017

On September 25, S&C client Greenhill & Co., Inc. announced a plan for a recapitalization of the company, designed to increase tax efficiency, reduce cost of capital, increase employee alignment with shareholders and enhance long-term shareholder value. On October 9, Greenhill announced plans to increase the size of the recapitalization. As revised, the recapitalization includes a new $350 million term loan facility, a new $20 million revolving credit facility, repayment of Greenhill's existing bank debt, equity investments of $10 million in Greenhill by each of the chief executive officer and chairman of Greenhill and up to $285 million of share repurchases.
The S&C team advising Greenhill in connection with the recapitalization is being led by John Estes and Jared Fishman, along with Jennifer Lee, Patrick Kavanaugh, Ashlyann Harrison and James Simpson. Marc Treviño and Regina Readling are advising on executive compensation matters, and Jeffrey Hochberg, Eric Wang, Saul Brander and David Simins are advising on tax matters.