We advised an ad hoc group of first-lien term loan lenders on the transactions

Davis Polk advised an ad hoc group of first-lien term loan lenders in connection with a recapitalization and maturity extension involving Logix Communications, LP (d/b/a Logix Fiber Networks).

The transactions included the partial repayment and long-term maturity extension of the existing first-lien term loan, a new $45 million investment from the second-lien lenders and the exchange of the existing second-lien term loan for a combination of a new second-lien loan and new preferred equity.

Logix is a leading fiber-based network infrastructure provider in Texas, offering high-performance connectivity products, wavelength services and internet access to businesses, carriers and data center operators.

The Davis Polk restructuring team included partner Eli J. Vonnegut and associates David Kratzer, Kayleigh Yerdon and Tony Sun. The restructuring finance team included counsel Jon Finelli and associates Mariya Dekhtyar and Trevor D. Jones. The tax team included partner Patrick E. Sigmon, counsel Tracy L. Matlock and associates Omar Hersi and Alanna Phillips. Associate Justin Alexander Kasprisin provided executive compensation advice. All members of the Davis Polk team are based in the New York office.

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