The register
Deal Tracker
133 reported liability management exercises from 2009 to 2025, classified by structure, jurisdiction and what followed. The list begins with Table 1 of Liability Management Exercises: Law and Practice and is updated as transactions are reported.
| Date | Company | Jurisdiction | Structure | Subsequent event |
|---|---|---|---|---|
| December 2025 | Newfold Digital | US | Uptier | — |
| December 2025 | KIK Consumer Products | Canada / US | Uptier | — |
| November 2025 | Springs Window Fashions (#2) | US | Uptier | — |
| November 2025 | Sabre (#2) | US | Pari Plus | — |
| October 2025 | Apex Tool (#2) | US | Uptier | — |
| September 2025 | Telesat | Canada | Dropdown | Litigation |
| September 2025 | Liberty Puerto Rico | US | Dropdown / Double-dip | — |
| September 2025 | GrubHub | US | Uptier | — |
| August 2025 | Summit BHC | US | Uptier | — |
| August 2025 | Quest Software, Part 2 | US | Exchange | — |
| August 2025 | Brook + Whittle | US | Uptier | — |
| July 2025 | Victoria PLC | Europe | Uptier | — |
| July 2025 | Guitar Center | US | Exchange | — |
| July 2025 | Cubic Corp | US | Exchange | — |
| July 2025 | Altice International (Optimum Communications) | US | Dropdown | — |
| July 2025 | AMC Entertainment (#2) | US | Exchange | — |
| June 2025 | Wellness Pet Company | US | Uptier | — |
| June 2025 | Selecta | Europe | Uptier | — |
| June 2025 | Saks Fifth Avenue | US | Dropdown | — |
| June 2025 | Quest Software, Part 1 | US | Uptier | — |
| June 2025 | Flexsys Holdings Inc. | US | Uptier | — |
| May 2025 | Radiate Holdco LLC | US | Uptier | — |
| May 2025 | OQ Chemicals (Oxea) | US | Exchange | — |
| May 2025 | Netceed | US | Exchange | — |
| May 2025 | Naked Juice | US | Uptier / Exchange | — |
| May 2025 | Ivanti | US | Double-dip / Pari-Plus | — |
| May 2025 | GPD Cos. Inc. | US | Exchange | — |
| May 2025 | Cision | US | Uptier | — |
| May 2025 | Astound Broadband, Part 2 | US | Uptier | — |
| May 2025 | Anastasia Beverly Hills | US | Dropdown | — |
| April 2025 | Tropicana | US | Uptier | — |
| April 2025 | Thrive Pet Healthcare | US | Uptier / Exchange | — |
| April 2025 | Pretium Packaging (#2) | US | Repurchase | — |
| April 2025 | EagleView Technology Corp | US | Exchange | — |
| April 2025 | E.W. Scripps | US | Exchange | — |
| April 2025 | Conuma Resources | Canada – USD SSNs | Uptier | — |
| April 2025 | B. Riley Financial | US | Uptier | — |
| March 2025 | New Fortress Energy | US | Triple dip / Dropdown | English restructuring |
| March 2025 | EmployBridge | US | Uptier / Exchange | — |
| March 2025 | Alvogen | US | Exchange | — |
| February 2025 | Stitch Acquisition Corp | US | Uptier | — |
| February 2025 | Oregon Tool Inc. | US | Dropdown + Uptier | — |
| February 2025 | Confluence Technologies | US | Uptier | — |
| January 2025 | Better Health Group | US | Uptier | — |
| December 2024 | iHeartMedia | US | Uptier | — |
| December 2024 | Veritas Technologies | Not stated | Exchange / Uptier | — |
| December 2024 | Springs Window Fashions | US | Uptier | — |
| December 2024 | Lions Gate Entertainment Corporation | US | Exchange / Uptier | — |
| November 2024 | FinThrive | US | Uptier | — |
| November 2024 | Empire Today | US | Dropdown + Uptier + Double-Dip | — |
| November 2024 | Dodge Construction Network | US | Uptier (FO) | — |
| November 2024 | Cox Media Group | US | Exchange | — |
| November 2024 | Astound Broadband, Part 1 | US | Dropdown | — |
| October 2024 | WideOpenWest | US | Uptier | — |
| October 2024 | System1 | US | Dropdown | — |
| October 2024 | STG Logistics | US | Dropdown | Litigation |
| September 2024 | Xplore | Canada | Dropdown | CBCA Plan of Arrangement |
| September 2024 | SI Group | US | Distressed Exchange | — |
| September 2024 | OnTrack (LaserShip) | US | Uptier | — |
| August 2024 | PECF USS / United Site Services | US | Dropdown + Uptier | — |
| August 2024 | Magenta Buyer | US | Uptier | — |
| August 2024 | Del Monte | US | Dropdown + Uptier | Bankruptcy |
| July 2024 | Pluralsight | US | Dropdown | — |
| July 2024 | AMC Entertainment | US | Exchange | — |
| June 2024 | Valcour Packaging / MRP Solutions | US | Uptier / Exchange | — |
| June 2024 | Sonrava Health | US | Exchange | — |
| June 2024 | Hunkemöller | Netherlands – NY-SSNs | Uptier | Litigation |
| May 2024 | Sound Inpatient Physicians | US | Uptier | — |
| May 2024 | Office Properties Trust | US | Uptier | — |
| April 2024 | Rackspace | US | Uptier | — |
| April 2024 | Loparex | US | Uptier | — |
| April 2024 | EyeCare Partners | US | Uptier | — |
| April 2024 | Digital Media Solutions | US | Uptier | Bankruptcy |
| April 2024 | City Brewing | US | Dropdown + Uptier | Recapitalisation |
| April 2024 | Ardagh | Ireland | Hunter-gatherer | Bankruptcy |
| March 2024 | Atlas Midco / Alvaria Inc. | US | Dropdown + Uptier | — |
| February 2024 | GoTo Group | US | Uptier | — |
| February 2024 | Apex Tool | US | Uptier | — |
| February 2024 | AccentCare | US | Uptier | — |
| December 2023 | Stonegate | England | Dropdown | — |
| December 2023 | Aventir (fka Securus) | US | Uptier | — |
| November 2023 | Spectrum Control | US | Uptier | — |
| October 2023 | Pretium Packaging | US | Uptier | — |
| September 2023 | Wheel Pros | US | Uptier + Double-Dip + Pari-Plus | Litigation / Bankruptcy |
| September 2023 | Trinseo | US | Pari-Plus | Bankruptcy |
| August 2023 | Frontier Communications | US | Dropdown | — |
| June 2023 | US Rental Care (#1) | US | Dropdown | — |
| June 2023 | Shutterfly | US | Dropdown | — |
| May 2023 | RobertShaw | US | Dropdown | — |
| May 2023 | LifeScan | US | Uptier | — |
| May 2023 | At Home Group | Europe | Pari-Plus / Double-dip | Bankruptcy |
| April 2023 | Rodan & Fields | US | Uptier | — |
| March 2023 | West Marine | US | Uptier | — |
| February 2023 | Yak Mat | US | Uptier | — |
| February 2023 | Sabre Corp | US | Pari-Plus | — |
| January 2023 | Instant Brands | US | Dropdown | Bankruptcy |
| December 2022 | Diebold Nixdorf | US | Uptier | Bankruptcy |
| December 2022 | BW Homecare / Elara Caring | US | Uptier | — |
| November 2022 | Mitel Networks | Canada – USD term loans | Uptier | Litigation / Bankruptcy |
| September 2022 | Bausch Health | Canada – USD SSNs | Exchange | Litigation |
| August 2022 | Envision Healthcare (#2) | US | Uptier | Litigation / Bankruptcy |
| April 2022 | Envision Healthcare (#1) | US | Dropdown | Litigation / Bankruptcy |
| February 2022 | Incora / Wesco | US | Uptier | Litigation / Bankruptcy |
| August 2021 | Domtar | Canada – USD SSNs | Exchange | — |
| April 2021 | Medical Depot | US | Uptier | Defaulted |
| February 2021 | TPC Group | US | Uptier | Litigation / Bankruptcy |
| February 2021 | Renfro (#2) | US | Uptier | — |
| December 2020 | GTT Comm. | US | Uptier | Bankruptcy |
| November 2020 | Cineworld | US / Europe | Uptier | Bankruptcy |
| October 2020 | Hornblower | US | Dropdown | — |
| September 2020 | Trimark (#1) | US | Uptier | Litigation / Defaulted |
| September 2020 | Travelport | US | Dropdown | Litigation / Defaulted |
| August 2020 | Boardriders | US | Uptier | Litigation |
| July 2020 | Renfro (#1) | US | Dropdown | — |
| July 2020 | Party City | US | Dropdown | Bankruptcy |
| June 2020 | Sinclair / Diamond Sports | US | Uptier / Exchange | Bankruptcy |
| June 2020 | Serta Simmons | US | Uptier | Litigation / Bankruptcy |
| May 2020 | Revlon | US | Dropdown | Litigation / Bankruptcy |
| April 2020 | Golden Nugget | US | Dropdown | — |
| March 2020 | Cirque du Soleil | Canada – USD SSNs | Dropdown | Bankruptcy |
| February 2020 | NPC International | US | Uptier | Bankruptcy |
| 2019 | McDermott | US / Europe | Dropdown | Bankruptcy |
| September 2018 | Neiman Marcus | US | Dropdown | Litigation / Bankruptcy |
| June 2018 | PetSmart / Chewy | US | Dropdown | Litigation |
| June 2018 | Murray Energy | US | Uptier | Litigation / Bankruptcy |
| July 2017 | J.Crew | US | IP Dropdown (TPG) | Litigation / Bankruptcy |
| May 2017 | Not Your Daughter's Jeans | US | Uptier | Litigation |
| January 2017 | Bioscrip / Option Care Health | US | Uptier | — |
| September 2016 | Claire's Stores | US | IP dropdown (Apollo) | — |
| December 2015 | iHeart | US | Dropdown | Litigation / Bankruptcy / Additional LME |
| September 2014 | Education Management Corporation | US | Various | Litigation |
| Pre-2014 | Caesars Entertainment | US | Various | Bankruptcy |
| 2009–2013 | Energy Future Holdings / TXU | US | Various | Bankruptcy |
The list draws on 9fin, S&P, PitchBook/LCD, Octus, CreditSights and Bloomberg material, and is limited principally to reported transactions involving debt over US$500m, with selected non-US examples. Classifications are illustrative: many deals combine structures, and the label records the main mechanism reported. The tracker records reported transactions only and does not assess any company’s financial position. Corrections: mclarksonmaciel@cassels.com.