KatieHiggins

Partner

Sydney + 61.2.8272.0531

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Katie Higgins has extensive experience advising companies, financiers, insolvency practitioners, investors, and directors on restructuring and insolvency matters. She also advises companies and financiers on a wide variety of debt and structured capital markets transactions. Katie is consistently recognized as a leading insolvency, restructuring, and finance lawyer by legal directories.

Some of Katie's recent transactions include acting for: the largest single creditor in the Virgin Australia administration; a large medical imaging diagnostics company in the restructuring of a A$260m facility provided by Dignari Capital; the administrators of Topshop/Topman, Payless Shoes, and American Apparel; the Insurance Commission of Western Australia in the $1.8 billion settlement of the Bell Group liquidation proceedings; Electricite de France in relation to the Paladin Energy administration; Peabody Energy Corporation in the Australian aspects of its U.S. chapter 11 filing and financing associated with its emergence from chapter 11; a major investor and financier in the administration of Aussie Farmers Group; and a key shipper and owner of WICET (Wiggins Island Coal Export Terminal) in the 2018 restructure of WICET's senior debt facilities.

Katie's recent transactions also involve a number of debt financing matters, including acting for: Hornblower Group in the financing of its acquisition of Australia's leading experiential travel group, Journey Beyond; Ansarada in various pre-listing convertible note rounds; Coronado Global Resources in acquisition financing provided in connection with its $700m acquisition of Curragh mine and the 2021 refinancing of its facilities with US$350m high yield bonds and US$100m asset-backed loan; and Peabody in its US$250m receivables finance facility with PNC Bank.

Experience

  • Direct lender provides $100 million term loan facility to designer and developer of enterprise softwareJones Day advised a direct lender, as administrative agent, collateral agent, and sole lead arranger, in connection with a $80 million senior secured term loan facility and $20 million senior secured delayed draw term loan facility provided to a designer and developer of enterprise software, the proceeds of which were used, in part, to finance the acquisition of a data technology provider.
  • KeyBank amends and restates $250 million secured revolving credit facility for cloud infrastructure providerJones Day represented KeyBank National Association, as administrative agent, in connection with an amended and restated $250 million secured revolving credit facility provided to a cloud infrastructure provider.
  • OakNorth finances management buyout of Mr Fothergill's SeedsJones Day advised OakNorth Bank plc in connection with its financing of the management buyout of UK-based horticulture company, Mr Fothergill's Seeds by Harwood Private Capital.
  • Hornblower Group acquires Journey BeyondJones Day advised Hornblower Group, Inc. in its acquisition of Australia's leading experiential travel group, Journey Beyond.
  • Beforepay completes A$35 million IPO on ASXJones Day advised Beforepay Group Limited, a leading provider of Pay on Demand services in Australia, in connection with its A$35 million initial public offering on the ASX.
  • Coronado Global Resources completes US$550 million in combined financingJones Day represented Coronado Global Resources Inc., in connection with (i) an offering of US$350 million aggregate principal amount of 10.750% Senior Secured Notes due 2026, (ii) a secured asset-based revolving credit agreement in an initial aggregate principal amount of US$100 million, and (iii) an offering of US$100 million aggregate principal amount of shares of its Common Stock in the form of CHESS Depositary Interests, which are listed on the Australian Stock Exchange.
  • Pepper Global restructures corporate groupJones Day advised Pepper Global, a leading diversified global loan servicer and lender, on a major restructure of its corporate group.
  • Peabody Energy completes comprehensive exchange transactionJones Day represented Peabody Energy Corporation (the "Company"), a large private-sector coal company, in connection with a series of recapitalization transactions to, among other things, provide the Company with maturity extensions and covenant relief, while allowing it to maintain sufficient operating liquidity and financial flexibility, including: (i) an offer to exchange any and all of its outstanding $459 million aggregate principal amount of 6.000% Senior Secured Notes due 2022 (the "Existing Notes") for (a) new 10.000% Senior Secured Notes due 2024 to be co-issued by PIC AU Holdings LLC, a Delaware limited liability company and an indirect, wholly-owned subsidiary of Peabody ("AU HoldingsCo"), and PIC AU Holdings Corporation, a Delaware corporation and an indirect, wholly-owned subsidiary of Peabody ("AU HoldingsCorp" and, together with AU HoldingsCo, the "Co-Issuers"), and (b) new 8.500% Senior Secured Notes due 2024 to be issued by Peabody; and (ii) a restructuring of the revolving loans under the Company's existing credit agreement (the "Existing Credit Agreement") by (a) making a pay down of revolving loans thereunder in the aggregate amount of $10 million, (b) the co-issuers incurring $206 million of term loans under a credit agreement, dated as of January 29, 2021, (c) the Company entering into a letter of credit facility, and (d) the Company amending the existing credit agreement.
  • Anteris Technologies issues A$20 million funding package provided by Mercer Street Global Opportunity FundJones Day advised Anteris Technologies Ltd, a structural heart company focused on developing innovative and durable health solutions through better science and better design, on a A$20 million funding package provided by Mercer Street Global Opportunity Fund, LLC, comprising of A$1 million placement of Ordinary Shares, A$1.5 million worth of Convertible Notes (with a further $1 million worth of Convertible Notes subject to shareholder approval) and a A$16.5 million discretionary drawdown facility.
  • Alfred Medical Imaging acquired by I-MED Radiology NetworkJones Day advised Alfred Medical Imaging in its acquisition by I-MED Radiology Network.
  • Ansarada merges with thedocyardJones Day advised Ansarada NewCo Pty Ltd. in its merger with thedocyard.
  • PRP Diagnostic Imaging and PRP Group Investments sold to Crescent Capital PartnersJones Day advised PRP Diagnostic Imaging (PRP) and PRP Group Investments (PRPG) on the sale of PRP to private equity fund Crescent Capital Partners (Crescent).
  • Sasser Family Holdings sells CF Asia Pacific to Anchorage Capital PartnersJones Day represented Sasser Family Holdings, Inc. (SFH) in the sale of CF Asia Pacific to a company controlled by one or more entities managed or advised by Anchorage Capital Partners.
  • Ad hoc group of senior secured lenders advised in landmark restructuring of the syncreon groupJones Day acted for the ad hoc group of senior secured lenders in the landmark restructuring of the global logistics syncreon group which was implemented via English Schemes of arrangement, with chapter 15 recognition in the U.S. and CCAA recognition in Canada.
  • Financial institution provides multi-currency senior secured syndicated credit facility to international manufacturing companyJones Day represented a financial institution, as lead arranger and administrative agent, in connection with a multi-currency senior secured syndicated credit facility to an international manufacturing company.
  • Exide Technologies completes $1.1 billion comprehensive new financing and recapitalizationJones Day represented Exide Technologies, a global leader in stored energy solutions for the automotive and industrial markets, in connection with a comprehensive new financing and recapitalization transaction.
  • KPMG Australia acquires Ferrier HodgsonJones Day advised KPMG Australia in its acquisition of Ferrier Hodgson, a leading independent restructuring, turnaround and insolvency firm in Australia.
  • ICWA and JN Taylor Finance (in liquidation) challenge liquidator's decision to review or re-adjudicate a proof of claim admitted over 20 years agoJones Day is acting for the Insurance Commission of Western Australia ("ICWA") in proceedings commenced by JN Taylor Finance Pty Ltd (in liquidation) and ICWA in the Supreme Court of Western Australia seeking to reverse a liquidator's decision to review or re-adjudicate a proof of claim that was admitted in the liquidation of The Bell Group Limited in the amount of approximately $291 million over 20 years ago.
  • ICWA protects its interests as creditor and funder in Bell Group liquidationsJones Day is acting for the Insurance Commission of Western Australia ("ICWA"), a Western Australian government entity, in proceedings commenced in the Supreme Court of Western Australia concerning the distribution to creditors of over $1.8 billion in the liquidations of the Bell Group.
  • Heidrick & Struggles amends and restates revolving credit facilityJones Day advised Heidrick & Struggles International, Inc., a premier global provider of executive search, leadership assessment and development, organization and team effectiveness, and culture shaping services, in connection with the amendment and restatement of its revolving credit facility.
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    January 2022 Commentaries

    Set Aside: Australian Creditors Unable to Rely on Statutory Set-Offs to Defend Unfair Preference Claims

    October 2021 Commentaries

    Australia Introduces the Offshore Electricity Infrastructure Bill 2021

    July 2021 Commentaries

    After a Peak Comes the Fall: Australian Federal Court Rejects "Peak Indebtedness Rule"

    March 2021 Newsletters

    Business Restructuring Review | March–April 2021

    March 2021 Newsletters

    Legislative Update: New Australian Insolvency Law Reforms Enacted for Small Businesses

    January 2021 Commentaries

    Significant Changes to Australia's Foreign Investment Framework Commenced on 1 January 2021

    October 2020 White Paper

    New Insolvency Processes for Small Australian Businesses

    August 2020 Commentaries

    Back on Top: Australian Court Affirms the "Peak Indebtedness Rule" in Unfair Preference Claims

    April 2020 Commentaries

    Coronavirus Pandemic: Australian Federal Government Announces Mandatory Code of Conduct for SME Commercial Tenancies

    April 2020 Commentaries

    COVID-19 Pandemic: New Zealand to Introduce Temporary Safe Harbour and Business Debt Hibernation Laws for Directors and Companies
    View All

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