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

Represented Barclays and JPMorgan Chase Bank as lead arrangers with respect to a $400,000,000 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.

Represented Morgan Stanley Senior Funding, Inc. and The Bank of Tokyo-Mitsubishi UFJ, Ltd. as lead arrangers with respect to financing provided to Compass Power Generation L.L.C. and its natural gas-fired power plant portfolio companies. The financing consisted of a $750,000,000 term loan facility, a $60,000,000 revolving credit facility and a $97,000,000 letter of credit facility, the proceeds of which were used to refinance existing debt, fund capital expenditures and make a dividend. Compass Power, a portfolio company of Starwood Energy Group Global, LLC, specializes in value-add power generation, transmission and storage energy projects.

Represented Barclays Bank PLC, as administrative agent and lead arranger in connection with $1 billion senior secured credit facilities, consisting of a $700 million revolving credit facility and a $300 million term loan facility for HealthSouth Corporation. HealthSouth Corporation is one of the nation's largest providers of post-acute healthcare services and an industry leader in home-based patient care.

Represented UBS Securities LLC, KKR Capital Markets LLC, Citigroup Global Markets Inc., Crédit Agricole Corporate and Investment Bank, Deutsche Bank Securities Inc., Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation as joint lead arrangers and bookrunners and UBS AG, Stamford Branch, as administrative agent, in connection with $1,285,500,000 and €615,000,000.00 term loan facilities in favor of Gardner Denver, Inc. (NYSE:GDI). Gardner Denver is a global manufacturer of industrial compressors, blowers, pumps, loading arms and fuel systems.

Represented Barclays as agent and lead arranger and the other lead arrangers in connection with the $575 million financing of GTCR’s strategic investment in Vivid Seats LLC. Vivid Seats is the largest independent full-service secondary ticket marketplace for live sports, concerts and theater events.

Represented RBC and Morgan Stanley as lead arrangers in the US $9.4B proposed financing of the acquisition of Energy Future Intermediate Holdings Corp. by Sempra Energy.

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.