Genco Energy SServices

Genco Energy Services
$54.3M

Service Category

Assignment

Served as the exclusive investment banker to Genco Energy Services in an out of court restructuring and refinancing comprised of the placement of new debt facilities totaling $20.6 million including additional borrowing capacity to support the company's growth and the elimination of $33.7 million of debt from its balance sheet. A revolving credit facility was provided by Republic Business Credit, mezzanine financing was provided by Super G Capital, and an equipment financing facility was provided by Utica Leaseco. Genco has significantly improved its financial position by reducing its debt by $13 million, converting $6.0 million of legacy subordinated debt to preferred stock and issuing $1.2 million of additional preferred stock.