H. Stephen Castro is a Partner in the Bankruptcy & Restructuring Department of Kaye Scholer. Mr. Castro focuses his practice primarily on the representation of secured and unsecured creditors in out-of-court loan workouts, restructurings and recovery of syndicated loan facilities. He has extensive experience advising multinational financial institutions on the wide range of issues confronting creditors, including strategies for the conversion of debt to equity, restructuring debt acquired at a discount, cross-border insolvency matters and asset dispositions in the insolvency context.
Represented the administrative agent, for lenders holding approximately $1.25 billion in term and revolving loans, in an out-of-court restructuring effected through the issuance of $500 million of senior unsecured notes.
- Represented the administrative agent, for a large lending syndicate, in an out-of-court restructuring effected through the subordination of existing private placement notes and the orderly sale of certain assets.
- Represented a private equity fund that acquired all outstanding loans under an ABL facility extended to a printed circuit board manufacturer in connection with its extension of debtor-in-possession financing.
- Represented the holders of bonds relating to O'Hare International Airport in connection with their negotiation of approximately $150 million in Senior Convertible Notes in the United Airlines bankruptcy proceedings.
- Represented the administrative agent and lender in connection with its consensual foreclosure of a CDO portfolio pledged as collateral for a secured credit facility.