In August 2019, Syncora Holdings Ltd. (“Syncora”) announced the signing of an agreement to sell Syncora Guarantee Inc., its wholly owned, New York financial guarantee insurance subsidiary, to Star Insurance Holdings LLC, an entity organized by GoldenTree Asset Management LP (“GoldenTree”) on behalf of GoldenTree’s managed funds and accounts, for $392.5 million in cash, subject to adjustment. The closing of the transaction remains subject to customary conditions and is expected to be completed by the end of the fourth quarter of 2019 or during the first quarter of 2020.
Duff & Phelps served as a financial advisor to the board of directors of Syncora and provided a fairness opinion in connection with the transaction.
About Syncora Holdings Ltd.
Syncora Holdings Ltd. (OTC: SYCRF) is a Bermuda-domiciled holding company. Syncora Guarantee Inc. is a wholly owned subsidiary of Syncora Holdings Ltd.
About GoldenTree Asset Management LP
GoldenTree is an employee-owned, global asset management firm that specializes in opportunities across the credit universe in sectors such as high yield bonds, leveraged loans, distressed debt, structured products, emerging markets, private equity and credit-themed equities. GoldenTree was founded in 2000 and is one of the largest independent asset managers focused on global credit. GoldenTree manages over $30 billion for institutional investors including leading public and corporate pensions.
Comprehensive support throughout mergers and acquisitions and other corporate transactions.Corporate Finance
Middle-market M&A advisory differentiated by industry expertise and superior deal execution.M&A Advisory
Transaction Advisory Services
Seamless analytical advisory through the deal continuum, from transaction origination to closing.Transaction Advisory Services
Financial Sponsors Group
Dedicated coverage and access to M&A deal-flow for financial sponsors.Financial Sponsors Group
Private Capital Markets – Debt Advisory
Advice on capital raising and securing best market terms across the capital structure from senior debt to equity.Private Capital Markets – Debt Advisory
Fairness and Solvency Opinions
Independent opinions for boards of directors and special committees.Fairness and Solvency Opinions
Valuation and consulting for financial reporting, federal, state and local tax, investment and risk management purposes.Valuation Advisory
Property tax, site selection, transfer pricing, sales and use tax and unclaimed property advisory.Tax Services
has been acquired by
$130 million credit facility
has received a significant investment from
has authorized a share repurchase program via open market repurchases
Duff & Phelps advised on the recapitalization of
a portfolio company of
Leveraged dividend recapitalization transaction
a portfolio company of
has entered into an agreement to divest its global custom research business to
Duff & Phelps provided valuation and related advisory services to the Board of OHA Holdings LImited in its recent ownership consolidation of Irving Oil, Limited