Ad Hoc Group of Noteholders, including Capital Group, BlackRock, CI and Manulife, in connection with the Chapter 11 restructuring of Altera Infrastructure

On October 5, 2022, Altera Infrastructure L.P. and its financial sponsor, Brookfield Asset Management (and certain of their affiliates), entered into a Plan Support Agreement with members of the Ad Hoc Group of TopCo Noteholders, including Capital Group, BlackRock, CI and Manulife, who are holders of Altera’s 8.5% Senior Notes due 2023. The settlement memorialized in the PSA and Amended Plan resolves all claims asserted by the Ad Hoc Group against Altera and Brookfield related to their August 2021 pre-bankruptcy uptier exchange offer.

Wachtell, Lipton, Rosen & Katz represented the Ad Hoc Group.