Financings

Overview

Our banking and finance practice is a cornerstone of our corporate department. We regularly represent individual and corporate borrowers in connection with a variety of financing transactions, including entering into a new secured credit facility, conducting high-yield debt offerings, or negotiating a refinancing of an existing term loan. We staff these matters with small teams of great lawyers, so our clients receive high-level, creative advice in the most efficient manner.

Critically, we understand that once the debt facility is closed, our clients will have to operate their business within the confines of a maze of restrictive covenants for a number of years. We help our clients think through what their business may look like during the term of their credit, and try to negotiate terms that will give them the flexibility they need to operate their business in the way they want.

Of course, we also understand that lenders require certain restrictions, and so our representation of borrowers does not stop when the credit agreement is signed. Clients rely on us to help them navigate the complex terms of their debt, and to find creative solutions when faced with contractual constraints.

Our financing practice is also often called upon to support the high-stakes work of our litigators. Our deep knowledge of how credit facilities work, from years of negotiating them on behalf of borrowers and providing these borrowers ongoing advice, is frequently drawn upon by the firm’s litigators in connection with their representations involving significant disputes under credit agreements.

Selected Experience

• We represented a major telecommunications company in connection with the addition of an $80 million private debt placement to a previously executed $370 million offering of high-yield senior debt notes, on which we had also advised. The matter included consent solicitation from existing noteholders, as the additional placement created an indenture waiver issue.
• We represented a major telecommunications company in connection with its offering of $2 billion of high-yield debt.
• We represented a major clothing retailer in the negotiation of a $600 million revolving credit facility.
• We represented Trilogy International Partners LLC in connection with a tender offer and the refinancing of a $450 million high-yield debt facility.
• We represented a fine arts auction house in two rounds of equity investments by Russia-based investors aggregating more than $80 million.
• We represented an Israeli-based technology company in a venture debt financing transaction with an Israeli private equity fund.
• We represented an e-book retailer in its $10 million Series C financing round.
• We represented the founder of an electronic foreign exchange trading platform in the formation of his business and in the company’s $7 million Series A financing.
• We represented a real estate and resort company based in Romania in succeeding rounds of equity financings aggregating more than $25 million.
• We represented a privately-held company as borrower in connection with the negotiation of a $150 million loan agreement with a strategic investor, with repayment to be made either in cash or in selected assets held by the borrower.
• We represented a luxury food retailer in connection with the negotiation of various loan facilities.
• We represented a privately-held luxury retailer in connection with corporate structuring and financing matters.
• We represented the U.S. and Israeli management team of a startup real estate company in connection with the initial major investment in the company by a U.S. hedge fund.
• We represented the management group of an infrastructure investment fund in negotiations with a financial institution providing startup equity capital.
• We represented a developer of software for legal sports wagering in connection with a series of PIPE financings.
• We represented a provider of IT and communications services, in connection with the negotiation of a $75 million credit facility with Cisco.
• We represent high-net-worth individuals in the negotiation of personal credit facilities.