We advised an ad hoc group of secured noteholders on the recapitalization

Davis Polk advised an ad hoc group of holders of notes issued by Wesco Aircraft Holdings, Inc. in connection with a $250 million debt securities financing and the issuance by Wesco of new 10.50% senior secured first-lien PIK notes due 2026 in exchange for Wesco’s existing 8.50% senior secured notes due 2024 and 9.00% senior secured notes due 2026. In connection with the transaction, Wesco also issued new 13.125% senior secured 1.25-lien notes due 2027 in exchange for its existing 13.125% senior notes due 2027.

Companies formed by Wesco and Pattonair do business under the trade name Incora. Incora is a leading provider of comprehensive supply chain management services to the global aerospace industry and other industries, including industrial manufacturing, marine and pharmaceutical. Incora incorporates itself into customers’ businesses, managing all aspects of supply chain from procurement and inventory management to logistics and on-site customer services. Incora is headquartered in Fort Worth, Texas, with a global footprint that includes 68 locations in 17 countries and more than 3,800 employees.

The Davis Polk restructuring team included partners Damian S. Schaible and Angela M. Libby, counsel Jon Finelli, Christian Fischer and Aryeh Ethan Falk and associates Stephanie Massman, Michael Pera, Timothy H. Oyen, Stella Li, Alexander K.B. Shimamura and Helen Zhang. Counsel Joseph S. Payne provided capital markets advice. The tax team included partner Lucy W. Farr and associate Bradford Sherman. Partners Kenneth J. Steinberg and Nick Benham provided finance advice. Members of the Davis Polk team are based in the New York and London offices.

Copy link to share post