Our Corporate Finance Team routinely handles all types of sophisticated commercial lending transactions, such as asset-based transactions, cash flow financings and multi-layered debt deals.
In recent years, our practice has focused on syndicated senior bank debt, mezzanine debt, tax-exempt bond debt, institutional private placements, Rule 144A issuances and commercial paper.
We have worked with lenders and borrowers from a number of different industries, but we have particularly deep experience working with clients in retail, health care, media and telecommunications, transportation/logistics, food and beverage, insurance, education and technology. We work with banks, commercial finance companies, mezzanine lenders and other institutional lenders.
We address our clients’ business objectives by providing well-rounded, informed analyses of issues that affect the commercial finance industry. We provide solutions by collaborating with other practice areas, including private equity, health care, tax, ERISA, labor, capital markets, corporate restructuring and real estate.
The Corporate Finance Team also works closely with our Restructuring Team to handle problem loan analysis, as well as debt restructuring and workout, bankruptcy, reorganization, and other aspects of creditors’ rights matters, including acquisitions of assets in bankruptcy, DIP financings, foreclosures, receiverships, lender liability claims and actions on debt instruments.
Our senior bank debt practice includes our representation of financial institutions, private equity funds and other corporate clients. We concentrate on sophisticated transactions, often with complex, multi-layered intercreditor issues such as second lien facilities.
Our mezzanine debt practice is deeply experienced, representing and advising lenders, investors and borrowers in structuring and closing highly negotiated and complex finance transactions. Our mezzanine lender clients provide subordinated loans, both secured and unsecured, with and without an equity component, in transactions frequently involving leveraged buy-outs and recapitalizations. Representative matters include:
- Fund managed by large global credit-oriented alternative asset manager in $60 million mezzanine loan to private equity portfolio company to refinance existing senior and second lien debt
- Private equity fund in obtaining a senior secured loan, a senior secured revolver and a mezzanine loan to finance a platform acquisition of a manufacturer and supplier of automotive parts, tools and services
- Small business investment company in connection with $5.5 million mezzanine loan with equity warrants to finance acquisition of a technology services company
We represented the Administrative Agents in connection with:
- $1.6 billion acquisition revolving credit and term loan B financing for a manufacturer in the life sciences industry
- $330 million syndicated credit facility for a prominent international machine tool builder
- Credit facility and series of six add-on acquisition ABL financings for a sponsor-led company in the fire prevention engineering business
- $50 million senior secured ABL revolving credit facility, including an intercreditor agreement with term loan B lenders and bifurcated collateral
- $85 million senior secured revolving credit, term loan and real estate term loan facility to leading U.S. retailer of fireworks
- $96 million senior secured credit facility to an insurance brokerage firm
- $110 million senior secured credit facility to a chemical company
- $118 million senior secured credit facility to recapitalize a liquid gas supplier including a delayed draw facility to finance acquisitions
- $300 million secured acquisition financing for a snack food company
- $80 million ABL and term loan facilities to finance a leveraged recapitalization for an equity sponsor
- Refinancing of a $2.5 billion credit facility for a chemicals company
- Series of financings and refinancings for a family-owned paper business with a $48 million ABL revolving credit facility and $19 million term loan facility
- Secured financing for Vishay Precision Group comprised of a $45 million U.S. facility and a $9.5 million Canadian facility
- $56 million senior secured credit facility entered into with entities that operate several affiliated grocery stores
- Administrative agent in a $53 million revolving credit facility for a group of family owned grocery stores and related events and catering services
- Its support of separate bidders in an auction process for the purchase of a department store chain, utilizing separate deal teams to work with financings for different bidders
- First-lien and second-lien financing for a company in the mini market and gasoline station businesses with substantial real estate collateral and a $110 million refinancing of the same, including a $35 million delayed draw facility
We represented borrowers in the following transactions:
- Company in the transportation industry in a $1.25 billion credit facility entered into in connection with a recapitalization
- Cott Corporation in a $500 million credit facility with tranches in the U.S., the UK and Canada
- Penske Trucking Leasing Co., L.P. in an unsecured syndicated credit facility
- Quaker Chemical Corp. in its senior secured credit facility with a U.S. and Dutch subfacility
- PREIT in a $150 million term loan facility
- ESOP-owned borrower with several infrastructure projects in connection with a senior and subordinated financing arrangement
- Private company in the food business in a $1 billion credit facility and related notes offering
- Lifestyle retailer in a $350 million ABL financing
Ranked Band 1 in Chambers USA – Pennsylvania, Banking & Finance
"Other than the obvious legal acumen, they are very good about understanding the business issues for my team and for the clients we have. They give very valued legal services."Chambers USA