Restructuring & Special Situations

Macquarie's Restructuring Advisory Services group advises companies, their creditors and other stakeholders regarding balance sheet restructurings, corporate finance transactions, strategic alternatives and mergers and acquisitions.

The Special Situations group invests in senior debt and other debt securities, the acquisition of debt portfolios, and provides capital to invest with its clients in situations that are uniquely challenged or distressed from a financial or operational perspective.

The Macquarie difference

It is Macquarie's unique approach to the restructuring process and the depth and breadth of services and expertise we offer our clients that differentiate Macquarie from our competitors.

These include:

• The focus, flexibility and specialization of a client-oriented restructuring business backed by the strength and resources of a global platform
• A full range of restructuring advisory services for debtors, creditors and prospective investment partners
• Alignment with Macquarie's industry groups, providing deep sector expertise and operational insight gained through our asset management and investment experience
• Extensive global corporate finance capabilities
• The ability to deliver broader, more innovative solution sets by drawing on Macquarie's diverse range of capabilities and clients
• The principal investment perspective: combining greater understanding of and alignment with the mindset of our clients with hands-on asset management expertise and co-investing capability
• Uniquely integrated combination of our special situations investing expertise and funds management business, enabling access to deal flow and potential investors through Macquarie's global advisory platform.

Restructuring Advisory

Our Services

Macquarie's Restructuring Advisory team, one of the largest dedicated US restructuring teams of any global financial advisory firm, provides a full range of advisory services for debtors, creditors and other stakeholders, including:

•  Balance sheet restructurings 
  • Recapitalizations
  • Exchange Offers
  • Debt Modifications
  • Forbearance Agreements
  • Rights Offerings
  • Chapter 11 restructurings, including pre-packaged and pre-arranged restructurings
  • Out-of-court restructurings 
• Special situations capital raising
  • Debtor-in-Possession Financing
  • Exit Financing
  • Rescue Financing
  • Refinancing
  • Private Financings
• Distressed M&A
  • 363 Sales
  • Complex Divestitures
  • Stalking Horse Transactions
  • Credit Bid Acquisitions
• Strategic Alternatives Assessment
  • Transaction Optimality Determination
  • Business Plan Assessment
  • Liquidity Forecasting
  • Managerial Metrics

Our restructuring advisory services are provided in the context of early interventions, informal workouts, out-of-court restructurings and formal bankruptcy proceedings.

Our Clients

Macquarie's Restructuring Advisory team serves a diverse range of clients and stakeholders, including:

• Public and private companies
• Secured and unsecured creditors
• Official and ad hoc creditor committees
• Board of directors / Special committees
• Bondholders
• Private equity sponsors
• Hedge funds
• Purchasers of distressed assets
• DIP lenders

Special Situations

Through the Special Situations team, Macquarie provides clients with a differentiated product offering that extends beyond traditional advisory services. Our experienced professional team and ability to deploy capital allows Macquarie to provide creative, value-added solutions to clients where traditional avenues are unavailable. These solutions include capital partnering, strategic investing, and asset management across a broad range of stressed and distressed situations.

Our Services

The Special Situations group provides a wide range of capital solutions to complement our restructuring advisory platform, including:

• Debt Portfolio Workout
• Selective Capital Partnering
• Macquarie Distressed Credit Investors

Specialized restructuring expertise, powerful global platform

The combination of specialized Restructuring Advisory and Special Situations teams with the diversity and depth of resources of a global advisory and funds platform sets Macquarie apart from the competition.

The experience and resources to deliver

Harness the expertise of one of the largest dedicated US restructuring teams of any global financial advisory firm, with:

• 40+ dedicated restructuring professionals in the US, backed by the expertise and resources of Macquarie Capital's global advisory team of over 1500 professionals
• 30+ years in the restructuring business
• A track record of success through all economic cycles
• 110 mandates since 2001, ranked #3 in the US bankruptcy league tables
• Access to sector-specific expertise from our Macquarie's global industry groups and active asset management experience from a portfolio of more than 115 assets managed around the world.

Our Restructuring and Special Situations professionals are aligned with Macquarie Capital's global industry groups, offering significant depth of expertise and breadth of resources. By leveraging the power of these industry groups, which comprise dedicated professionals with extensive experience in executing transactions in their respective sectors, our Restructuring Advisory professionals obtain unique access to Macquarie's breadth and depth of sector-specific expertise. This means that our clients benefit from a deep knowledge of industry trends and key drivers and access to a global network of corporate relationships with key industry players.

Click here for selected Restructuring and Special Situations tombstones and case studies.

Industry focus

Macquarie Capital's global industry groups focus on sectors where our depth of expertise can offer real value to our clients, including:

• Diversified Industries
• Financial Institutions
• Infrastructure and Utilities
• Telecoms, Media, Entertainment and Technology
• Resources
• Property.

Global reach

Macquarie's Restructuring and Special Situations team provides nationwide coverage, from 4 core US offices in Atlanta, Chicago, Los Angeles and New York. This is augmented by Macquarie Capital's extensive global and regional presence, with 11 US locations and offices in all the major global financial centers.