David Gremling

David Gremling is a Partner in the Capital Structure Solutions Practice. Based in Chicago, he advises companies, private equity sponsors, lenders and other stakeholders in complex corporate restructurings, special situations and liability management transactions. His practice encompasses chapter 11 cases, prepackaged and out-of-court restructurings, cross-border insolvency matters, recapitalizations, debtor-in-possession and exit financings, distressed M&A transactions and other strategic capital structure transactions. Dave has represented domestic and cross-border clients across a wide range of industries including consumer products, energy, healthcare, telecommunications, technology and sports, among others.

Notable experience prior to joining Simpson Thacher includes advising:

• GoHealth, Inc. and seven of its affiliates in their prepackaged chapter 11 cases with a comprehensive restructuring transaction designed to address over $1 billion in debt obligations
• Wellness Pet, LLC and certain affiliates in a refinancing and new-money financing transaction that raised $100 million of capital and extended the maturity of the company’s ABL facility
• Klöckner Pentaplast of America, Inc. and 24 of its affiliates in its voluntary prepackaged chapter 11 proceedings, aimed to eliminate approximately €1.3 billion of the company’s €2.32 billion funded debt obligations
• Three subsidiaries of McDermott International, Ltd in their multinational, cross-border, first-of-its-kind restructuring spanning England, the Netherlands and the U.S., which resulted in the amendment and extension of $2.6 billion of secured debt and the equitization of over $1 billion in litigation claims
• Intelsat S.A. and its debtor-affiliates, operator of the world’s largest satellite fleet and connectivity infrastructure, in connection with their chapter 11 cases, involving approximately $15 billion in liabilities
• Chesapeake Energy Corporation, a premier oil and natural gas exploration and production company, and 40 subsidiaries in their chapter 11 cases, which addressed more than $9 billion of funded debt and eliminated approximately $7 billion of debt obligations
• American Tire Distributors, Inc. and 12 debtor affiliates in their chapter 11 cases addressing approximately $1.9 billion in funded debt and supported by $250 million of new-money DIP financing commitments
• Prima® Wawona and certain affiliates in their chapter 11 cases and equitization transaction addressing approximately $1 billion in debt
• One Call Corporation in an out-of-court recapitalization that equitized nearly $1 billion in junior debt, reduced annual interest expense by approximately $90 million and eliminated near-term maturities
• Genesis Care Pty Ltd and its affiliates in their chapter 11 cases involving approximately $1.7 billion in funded debt and a sale process for their U.S. assets
• Nautical Solutions, L.L.C. and its affiliate in their prepackaged chapter 11 cases, which reduced approximately $115 million in senior secured debt and concluded with emergence 37 days after filing
• Dunn Paper Holdings, LLC and its affiliates and subsidiaries in an out-of-court restructuring involving approximately $380 million in funded debt
• Clover Technologies Group, LLC in its restructuring of $650 million in term loan debt, including a business sale, strategic acquisition and equitization of substantially all of the term loan debt
• Eye Care Service Partners in its $563 million recapitalization
• Wahoo Fitness in an out-of-court recapitalization that provided significant liquidity and eliminated all of the company’s existing debt