Paul Hastings Advises Altisource Portfolio Solutions on Restructuring and Term Loan Extension

Paul Hastings LLP advised Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) in a set of liability management transactions, including the exchange of its existing $232.8 million term loans for $160 million in new first-lien term loans with an extended maturity and 58.2 million common shares. In connection with the transactions, Altisource, a leading provider and marketplace for the real estate and mortgage industries, also entered into a new super-senior credit facility with a subset of its existing lenders and issued warrants to its existing shareholders. The transaction involved a complicated and unique structure, as Altisource was able to garner 100% lender consent and sufficient public shareholder approvals — a first-of-its kind recapitalization by a public company.

The multidisciplinary Paul Hastings team was led by finance and restructuring partner Alex Cota, capital markets partner Max Kirchner and of counsel Keith Pisani and Matt Garofalo, and included Jayme Goldstein, Gary Silber, Alex Farr, Ken Bagdasar, Yariv Katz, Youssef Aziz, Yana Gontcharova, Izzy Muncan, Gabriella Jassir, Matt Friedrick and Rand Dorney.

More information can be found here. 

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