Garrett Motion, Centerbridge Partners, Oaktree Capital Management
|Deal Type||Debt Capital Markets|
Senior Secured Credit Facilities
|Client & Transactional Partners||
Oaktree Capital Management
Joint Lead Arranger
On April 30th, KeyBanc Capital Markets (“KBCM") successfully closed the syndication of $1,550 million Senior Secured Credit Facilities in support of Centerbridge Partners (“Centerbridge”) and Oaktree Capital Management (“Oaktree” or collectively with Centerbridge the “Sponsors”) reorganization of Garrett Motion Holdings, Inc. (“Garrett Motion” or the “Company”). The facilities are comprised of a $300 million Revolving Credit Facility (the “Revolver”) and $1,250 million Senior Secured Term Loans (the “Term Loans”). Proceeds from the facilities will be used fund the Company’s emergence from bankruptcy, refinance pre-petition and debtor-in-possession facilities, support ongoing working capital needs, and pay transaction related fees and expenses. KBCM served as Joint Lead Arranger and Joint Bookrunner and was chosen to play a role in the financing due to its longstanding relationship with the Sponsors and industry expertise.