Simpson Thacher represented CWT Travel Holdings, Inc. (“CWT”) and its subsidiaries in a series of recapitalization transactions to strengthen and deleverage CWT’s balance sheet. The recapitalization included equitizing CWT’s senior notes and obtaining additional incremental liquidity in the form of a second lien term loan from certain stakeholders as well as amending the first lien credit facility.
CWT is a global business travel and meetings solutions provider, with whom companies and governments partner to keep their people connected, in traditional business locations and some of the most remote and inaccessible parts of the globe. CWT provides its customers’ employees with innovative technology and an efficient, safe, and sustainable travel experience.
The Simpson Thacher team included Roxane Reardon, Marisa Stavenas, Lia Toback, Adriana Estor-Restrepo and Albert Murzakhanov (Capital Markets); Justin Lungstrum, Rob Meyer, Sophie Skinner and Roey Vardi (Banking and Credit); Jonathan Goldstein, Bill Smolinski and Tova Pfeffer (Tax); and David Rubinsky, Laura Gallo and Allison Sutherland (ECEB).