Sidley Represents U.S. TelePacific Holdings Corp. in Connection with Restructuring Process

Sidley is representing U.S. TelePacific Holdings Corp. (TPx or the Company) in connection with its restructuring process to address approximately US$1.1 billion in debt, including the negotiation of an amended and restated Restructuring Support Agreement (RSA) with its existing sponsor and holders of approximately 98% of the Company’s outstanding funded debt.

The RSA provides commitment for the recapitalization of the Company and elimination of significant debt, strengthening TPx’s financial foundation and positioning the Company for its next phase of growth. To implement the transactions contemplated by the RSA, TPx filed for Chapter 11 bankruptcy protection on June 28, 2026, in the U.S. Bankruptcy Court for the Southern District of Texas.

In connection with the Chapter 11 process, the Sidley team represented the Company in negotiating commitments for approximately US$73.6 million of debtor-in-possession financing from existing lenders to provide sufficient liquidity to support the business throughout the process.

The team was led by Stephen Hessler, Anthony Grossi, Duston McFaul, and Jason Hufendick (Restructuring); Kristen Smith and Mahalia Doughty (Global Finance); and Vijay Sekhon (M&A and Private Equity). The team also included Weiru Fang, Ryan Fink, Chelsea McManus, Daniela Rakowski, Sydney Box, Tanner Christiansen, Ishani Patel, Chloe Chambers, Kailey Fairchild, Landon Jenkins, Joe Kozlowski, and Jonah Riffkin (Restructuring); T.J. Gordon, Joel Haas, Shea Corrigan, Chloe Kim, and Hannah Qin (Global Finance); Marc Korman (Transportation); Naila Scott (Litigation); Suresh Advani, Eric Grosshandler, and Rachel Ellison (Tax); Sonia Barros (Capital Markets); and Garrett Hughey and Claire Manson (M&A).