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Leveraged Finance

Our Leveraged Finance Practice advises clients on a variety of bank and bond financing transactions, ranging from middle-market loans to billion-dollar-plus financings, across a wide range of industries, giving us a comprehensive understanding of the current global financing and regulatory environment.

Recent Transactions

Advised Barclays Bank PLC, among others, as joint lead arrangers and bookrunners with respect to a $650 million term loan credit facility and a $100 million asset-based revolving credit facility to be provided in connection with the proposed acquisition of Electro Scientific Industries, Inc. by MKS Instruments, Inc.  

Represented Barclays Bank PLC, as administrative agent, collateral agent, issuer, and sole lead arranger and sole book runner with respect to a $125 million committed exit asset-based revolving credit facility, and Barclays Bank PLC, as administrative agent and collateral agent, and sole lead arranger and sole book runner, with respect to a $400 million exit term loan credit facility, in each case, in connection with the emergence from Chapter 11 of the U.S. Bankruptcy Code, by Mattress Firm, Inc. 

 

Represented Royal Bank of Canada, as administrative agent, joint bookrunner and joint lead arranger together with certain other major financial institutions, for a $900 million asset-based revolving credit facility with JBS USA Food Company, the North American arm of JBS S.A. and certain affiliated companies.

 

Advised Barclays Bank PLC and RBC Capital Markets, as joint lead arrangers and joint bookrunners, and Barclays Bank PLC, as administrative agent, with respect to the $1.495 billion financing in connection with Victory Capital Holdings’ acquisition of USAA Shareholder Account Services, USAA Asset Management Company and Harvest Volatility Management

 

 Advised RBC Capital Markets, LLC as representative for the initial purchasers on the private offering of $650 million aggregate principal amount of 8.50% senior notes by Calfrac Holdings LP. Concurrently, we represented RBC, as the sole dealer manager, in a cash tender offer by Calfrac for up to a total of $600 million aggregate principal amount of its outstanding 7.50% senior notes.

Represented PBF Holding Company LLC, a wholly owned subsidiary of PBF Energy Company LLC as borrower in a syndicated $3.4 billion senior secured revolving ABL credit facility.

Represented Goldman Sachs and Citigroup as lead arrangers in respect of the financing for the recommended public-to-private acquisition by Advent International of Laird PLC for approximately £1 billion. AI Ladder Limited and UK electronics and technology business Laird reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Laird by Bidco.

Represented Barclays and JPMorgan Chase Bank as lead arrangers with respect to a $400 million committed financing provided to Seattle Genetics, a biotechnology company focused on antibody-based cancer therapies, in connection with its proposed acquisition of Cascadian Therapeutics, a clinical-stage biopharmaceutical company.

Represented RBC Capital Markets, Credit Suisse Securities (USA) LLC, Barclays Bank PLC and Citigroup Global Markets Inc., as lead arrangers for the $3.55 billion financing – which includes a $350 million undrawn revolving credit facility – to be provided in connection with Meredith Corporation’s acquisition of Time Inc., a multinational mass media corporation.

Innovative Solutions for Complex Transactions

Lending markets have experienced dramatic swings in activity over the past several years. In today’s environment, managing risks while creatively pursuing opportunities has become an essential balancing act for those seeking to navigate new paths to growth. We provide innovative solutions for our clients’ largest and most complex transactions. Our team helps clients navigate volatile markets, identify alternative financing options, refinance their debt, and take advantage of evolving trends in leveraged finance.

We know the market. Over the past year, we have represented one or more major bank institutions in nearly every significant leveraged finance transaction that came to market. Our lawyers advise on the full spectrum of financings, restructurings, and regulatory compliance issues across a variety of sectors, including energy, technology, fintech, telecommunications, media, healthcare, life sciences, and professional services.

A Leading Leveraged Finance Practice

  • Our team is recognized as a leader in acquisition finance, representing lead arrangers, underwriters, and initial purchasers participating in domestic and cross-border transactions.
  • Our integrated practice offers seamless execution in bank/bond structures, whether within a single jurisdiction or in cross-border transactions.
  • Our practice is part of a larger global finance practice representing global financial institutions in 1,000+ complex financings in 2016, including alternative and private credit, asset securitization and structured finance, project finance, and structured credit products.

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