Image: Morgan Bale

Morgan Bale

Partner, Corporate Department

New York

Phone: 1(212) 318-6043
Fax: 1(212) 303-7043

Overview

Morgan Bale is a partner in the Global Finance practice of Paul Hastings and is based in the firm’s New York office. Mr. Bale has wide experience in all areas of domestic and cross-border bank financing.

Mr. Bale regularly represents investment banks, other financial institutions, and corporate borrowers in acquisition finance and other event-driven lending transactions, encompassing investment grade, leveraged cash-flow, and asset-based syndicated credit facilities (including first and second lien-secured loans), as well as loan restructurings, debtor-in-possession financings, and exit financings. Consistently ranked by Chambers Global, Chambers USA, Legal 500 US, and IFLR1000, Mr. Bale is known for his deep market knowledge, and, in particular, as a trusted advisor for high-profile investment-grade financings.

Mr. Bale’s clients include Citi, Goldman Sachs, JPMorgan, Morgan Stanley and other major investment banks.

Education

  • University of Virginia, LL.M., 2002
  • College of Law, York, LSF, 1993
  • College of Law, York, CPE, 1992
  • York University, B.A., 1989

Representations

  • Represented Citi and Key Bank on £6.5 billion senior unsecured bridge and term-loan facilities for Parker Hannifin’s acquisition of Meggitt plc.
  • Represented Goldman Sachs, Citi and Morgan Stanley on $3 billion senior secured term loan and revolving facilities for Bausch + Lomb Corporation to finance its spin-off from Bausch Health Companies and for working capital requirements.
  • Represented a financial institution in $1.2 billion senior secured bridge, term loan and revolving facilities for Tetra Tech Inc.’s recommended offer to acquire RPS Group plc, a bid which successfully topped the previous recommended offer from WSP Global Inc.
  • Represented Goldman Sachs, TD Bank, Wells Fargo and another financial institution in a $1.25 billion sustainability-linked senior unsecured revolving credit facility for Trimble, Inc. (f/k/a Trimble Navigation Limited).
  • Represented CIBC and another financial institution, as joint lead arrangers, in £1.8 billion bridge and term facilities for Intact Financial Corporation (Intact) to finance in part the £7.2 billion acquisition of RSA Insurance Group plc by Intact and Tryg A/S.
  • Represented Morgan Stanley and Credit Suisse in $7.5 billion committed bridge financing to support the merger of International Flavors & Fragrances Inc. with the Nutrition & Biosciences (N&B) Business of DuPont in a deal that values the combined company at $45 billion on an enterprise value basis.
  • Represented Citi, as administrative agent and arranger, in a $2.75 billion amended and extended senior unsecured revolving facility for Becton, Dickinson and Company to increase the existing facility and extend its maturity.
  • Represented Citi, as administrative agent, joint lead arranger and joint bookrunner, in an amended and extended $2 billion senior unsecured revolving facility for International Flavors & Fragrances Inc. to refinance existing indebtedness.
  • Represented Citi in £6.5 billion committed unsecured bridge financing to support the pending acquisition by Parker-Hannifin Corporation of Meggitt plc.
  • Represented a major financial institution in committed senior unsecured bridge financing to support the $4 billion acquisition by Hasbro, Inc. of Entertainment One Ltd.
  • Represented Citi, as administrative agent, and Citi and another financial institution, as joint lead arrangers and joint bookrunners, in $21.8 billion bridge and term loan facilities and a $5 billion revolving working capital facility to support the $55 billion acquisition by Occidental Petroleum Corporation (OXY) of Anadarko Petroleum Corporation.
  • Represented a major financial institution in committed bridge and term loan facilities and a $5 billion revolving working capital facility to support the $3.7 billion acquisition by Parker Hannifin Corporation of LORD Corporation.
  • Represented Goldman Sachs, as agent, in a £5.2 billion bridge financing commitment to support the $6.4 billion acquisition by Marsh & McLennan Companies, Inc. of Jardine Lloyd Thompson Group plc.
  • Represented Goldman Sachs, as agent, in $9 billion bridge and term loan facilities to support the $10.9 billion acquisition by Conagra Brands, Inc. of Pinnacle Foods Inc.
  • Represented Goldman Sachs and Morgan Stanley, as joint lead arrangers, joint bookrunners, and agents, in a $5 billion bridge financing commitment to support the $6 billion merger of CenterPoint Energy, Inc. and Vectren Corporation.
  • Represented JPMorgan Chase, Goldman Sachs and another major financial institution, as joint lead arrangers and joint bookrunners, in a senior unsecured bridge facility to support the $23.1 billion merger of Keurig Green Mountain, Inc. (a portfolio company of JAB Holding Company) and Dr Pepper Snapple Group, Inc.
  • Represented Goldman Sachs in $9 billion bridge facility to support the spin-off by Twenty-First Century Fox, Inc. to its shareholders of a new “Fox,” an entity comprising highly-rated news, sports and broadcast businesses, as part of a series of transactions that also included the combination of the rest of the Twenty-First Century Fox businesses with The Walt Disney Company.
  • Represented Goldman Sachs and other major financial institutions, as joint lead arrangers, in $49 billion bridge and term loan facilities to finance in part CVS Health Corporation’s $78 billion acquisition of Aetna Inc.
  • Represented Goldman Sachs and another major financial institution, as joint lead arrangers and joint bookrunners, in a $13.7 billion bridge facility to finance Amazon’s $13.7 billion acquisition of Whole Foods Market.
  • Represented Citi, as sole lead arranger and sole lead bookrunner in $15.7 billion bridge and term loan facilities, and as lead arranger and bookrunner in $4.5 billion term and revolving working capital facilities for Becton, Dickinson and Company (BD) to support BD's $24 billion acquisition of C. R. Bard Inc.
  • Represented Morgan Stanley, as sole lead arranger and sole lead bookrunner, in $4.5 billion committed bridge and $1.8 billion term acquisition-related facilities and a $1.5 billion revolving facility for Tyson Foods, Inc. to finance, respectively, its $4.2 billion merger with AdvancePierre Foods Holdings, Inc. and its general corporate purposes.
  • Represented Goldman Sachs, Deutsche Bank and JPMorgan Chase, as joint lead arrangers and joint bookrunners, in £12.2 billion bridge financing to support Twenty-First Century Fox, Inc., in its proposed approximately £11.7 billion acquisition of all the share capital it does not already own of Sky plc.
  • Represented Morgan Stanley, as sole lead arranger and sole bookrunner, in $3.1 billion bridge financing to support the $4.3 billion acquisition by Parker Hannifin Corporation of CLARCOR Inc.
  • Represented Goldman Sachs, as administrative agent, sole lead arranger and bookrunner, in an $8 billion committed bridge facility to finance the approximately $15 billion cash and stock acquisition by Great Plains Energy Incorporated of Westar Energy Inc.
  • Represented RBC Capital Markets and Mizuho Bank, Ltd., as joint lead arrangers, joint bookrunners and agents, in bridge and term facilities for Dominion Resources, Inc. to finance its approximately $5.9 billion acquisition of Questar Corporation.
  • Represented Goldman Sachs, as administrative agent, sole lead arranger and bookrunner, in a $4.2 billion committed bridge facility to finance the proposed cash and stock acquisition by Lam Research Corporation of KLA-Tencor Corporation.
  • Represented a financial institution in a $3.7 billion committed bridge facility to finance in part the pending cash acquisition by St. Jude Medical, Inc. of Thoratec Corporation.
  • Represented Morgan Stanley and another financial institution, as lead arrangers and providers, in a $2.9 billion committed bridge facility for Verisk Analytics, Inc. to finance its £1.85 billion (approximately $2.8 billion) acquisition of Wood Mackenzie.
  • Represented Morgan Stanley Senior Funding in a $3.4 billion committed bridge facility and a $1.3 billion term facility for Harris Corporation to finance its $4.75 billion acquisition of Exelis, Inc.
  • Represented Morgan Stanley and Goldman Sachs, as financial advisors and providers of £1.6 billion bridge facilities to XL Group plc to finance in part its £2.79 billion acquisition of Catlin Group Limited.
  • Represented Goldman Sachs, as administrative agent and arranger, in the fully committed $9.1 billion bridge facility for Becton, Dickinson and Company to finance its $12.2 billion acquisition of CareFusion Corporation.
  • Represented Morgan Stanley in its $2.5 billion bridge commitment to Alcoa, Inc. to finance its $2.85 billion acquisition of Firth Rixson Limited.
  • Represented Morgan Stanley and J.P. Morgan in the fully-committed bridge facility for Tyson Foods, Inc. to finance its $8.55 billion unilaterally-binding offer to acquire The Hillshire Brands Company.
  • Represented Goldman Sachs and another major financial institution in their $7.2 billion bridge commitment to Exelon Corporation to finance its proposed acquisition of Pepco Holdings Inc.
  • Represented Goldman Sachs in $4.75 billion bridge commitments to finance a portion of the proposed $8.2 billion acquisition by Sysco Corporation of US Foods, Inc.
  • Represented AK Steel Corporation in its $1.1 billion revolving-credit facility.
  • Represented Morgan Stanley in a 364-day investment-grade committed bridge facility to support the $2.65 billion acquisition by Weyerhaeuser of Longview Timber.
  • Represented Goldman Sachs, as joint lead arranger, joint bookrunner and administrative agent, in a $3.5 billion senior unsecured bridge facility in connection with the $6.7 billion strategic investment by Walgreen Co. in Alliance Boots GmbH.
  • Represented Morgan Stanley and Deutsche Bank, as arrangers and administrative agents, in a $1.9 billion senior unsecured bridge facility for Molson Coors Company to finance, in part, its $3.5 billion acquisition of StarBev.
  • Represented a major financial institution, as sole lead arranger and sole bookrunner, in a $1 billion senior unsecured bridge facility for Kellogg Company to finance its $2.7 billion acquisition of Procter & Gamble’s Pringles snack business.
  • Represented Morgan Stanley and JPMorgan, as joint bookrunners and lead arrangers, in a $1 billion bridge term loan, a $500 million revolving facility and a $250 million revolving facility for DENTSPLY International Inc. to finance its $1.8 billion acquisition of Astra Tech.
  • Represented Morgan Stanley and J.P. Morgan, as joint lead arrangers, in a $2 billion investment- grade revolving facility for Marathon Petroleum Corporation to finance its spin-off from Marathon Oil Corporation.
  • Represented Morgan Stanley, as administrative agent and joint lead arranger, in a $3 billion revolving facility for Danaher Corporation to finance in part Danaher's $5.9 billion acquisition of Beckman Coulter.

*Matters may have been completed before joining Paul Hastings.

Involvement

  • Chambers Global, Banking & Finance
  • Chambers USA, Banking & Finance
  • The Legal 500 US, Commercial Lending
  • IFLR1000, Banking
  • The National Law Journal, Finance, Banking and Capital Markets "Trailblazer" (2019)
  • Law360, Banking "MVP" (2014)

Practice Areas

Corporate
Global Finance
Leveraged & Syndicated Lending

Languages

English

Admissions

New York Bar
England and Wales Solicitor

Education

University of Virginia, JD / LLM 2002
The College of Law, York, LSF 1993
The College of Law, York, C.P.E. 1993
University of York, B.A. 1989

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