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Contact: Karen C. Cook |
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 Seabury Group Broadens Transportation Practice with Addition of
International Marine and Finance Executive NEW YORK, June 11, 2004 - Seabury Group today announced that Randee E. Day, former president and CEO of Day & Partners, Inc. and head of J.P. Morgan and Company's Marine Transportation and Finance department, has joined the company as a managing director. “Providing investment banking and management consulting services to the shipping and cruise businesses is a logical extension of Seabury’s aviation/aerospace, travel and asset-based financing business,” said John E. Luth, president and CEO of Seabury Group. “We are very pleased that Randee will bring her 25-plus years of international experience in commercial and investment banking and maritime consulting services to Seabury as the company expands its transportation practice.” Seabury is a boutique investment banking and management consulting firm engaged by, among others, Air Canada, Avianca Airlines and US Airways Group in their current restructurings. The company previously advised Continental Airlines (1995) and America West Airlines (2001) in their highly successful “out-of-court” restructurings. Seabury has arguably the largest group of investment banking and restructuring professionals in the world dedicated to the transportation sector. The firm has offices in the United States and Europe. Ms. Day said, “I am delighted to join the Seabury team of professionals, who are known for offering a variety of financial and consulting services primarily to airlines and aviation-related companies, as well as to private equity firms involved in the transportation and travel industries. The capital requirements of the shipping industry over the next several years are substantial and there will also be ample merger and acquisition, and restructuring opportunities.” Ms. Day formed Day & Partners, Inc. in 1985. The firm handled client assignments involving capitalization structures, asset diversification, debt restructuring and liquidity management. Ms. Day has assisted clients with offshore investing, bankruptcies and foreign judgments. Additionally, she serves as director and audit committee chair of TBS International Ltd., Bermuda, which emerged from bankruptcy in 2001. She was formerly head of J.P. Morgan’s Marine Transportation and Finance department in New York. In that capacity, she was responsible for managing a $1 billion loan portfolio and two departments that handled all lending and investment requirements of shipping companies in the Western Hemisphere and the Far East. She also was an executive in the company’s London office. Ms. Day also worked in the London offices of Continental Illinois National
Bank & Trust and Bank of America. She earned a B.A. from the University
of Southern California and studied at George Washington University as
well as the Institute of Foreign Affairs in London. Founded in 1995, the Seabury Group provides investment banking, financial advisory, restructuring and consulting services for the transportation, insurance, real estate, travel, and logistics industries. Seabury currently serves as principal restructuring advisor to Air Canada in its restructuring under the Companies’ Creditors Arrangement Act (CCAA), which is similar to Chapter 11 of the U.S. bankruptcy code. Previous engagements include successful corporate restructuring and recapitalization assignments for US Airways Group, America West Airlines, Inc., Continental Airlines, Inc., and Kitty Hawk Air Cargo; M&A and financial advisory work for such investment funds as Blackstone Capital L.P., Oaktree Capital L.P., and Texas Pacific Group L.P.; and creditor assignments for such financial institutions as US Eximbank, Deutsche Bank and Lehman Brothers. Recent transactions include the arrangement of a C$850 million equity backstop rights offering commitment for Air Canada’s emergence from the CCAA proceedings, advisory for private equity funds on a US$125 million equity investment in Spirit Airlines, and advisory for Avianca Airlines (Aerovias Nacionales de Colombia S.A., Avianca, S.A.) in connection with its restructuring under Chapter 11. Seabury Group principals have structured over $100 billion in debt, equity, M&A transactions and strategic affiliations. Seabury employs more than 80 professionals worldwide who have a wide variety of senior executive expertise in structured lease and debt financing structures for transportation and real estate concerns, enterprise risk assessment, insurance, technology, airline fleet and network planning, airport advisory services and IT management information systems. For more information, please see http://www.seaburygroup.com/. |
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