PROPRIETARY First Equity Copyright 2018 © First Equity Group, Inc. – 46 – First Equity Development Restructuring Assignment: Evergreen International • Evergreen International Aviation was a global provider of aviation services, including cargo and charter air service, and was using a fleet of 13 company-owned Boeing 747 aircraft, and a variety of other aircraft and helicopters • Other activities also included aircraft maintenance, repair and overhaul services, aircraft parts brokerage, and agricultural spraying services • First Equity became involved with Evergreen International Aviation when the company defaulted on $125 million in subordinated debt and $500 million in senior debt • First Equity was hired to assess the financial position of the company, assist in the restructuring of the debt and negotiate with bank and subordinated debt holders • First Equity successfully re-negotiated over $600 million in secured debt