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William Brady

Partner, Corporate Department
T 1(212) 318-6066
F 1(212) 303-7066

William Brady is Head of the firm’s Alternative Lender and Private Credit practice, focused on the global alternative lender platform. He is also a partner in the Finance practice at Paul Hastings and is based in the firm’s New York office.

Mr. Brady’s practice focuses on complex finance transactions and credit arrangements, particularly those financings that include a junior capital component or multiple tranches of debt. He regularly structures and negotiates a wide range of financing facilities, such as mezzanine debt, second-lien loans, bifurcated unitranche facilities, first-out/last-out and term “B” facilities, and holdco note purchases.

Mr. Brady represents a broad array of alternative lenders and investors, including traditional mezzanine funds, second lien lenders, hedge funds, BDCs, SBIC funds, one-stop shops, insurance companies, and specialty finance companies, often in the context of domestic and cross-border leveraged buyouts, recapitalizations, refinancings and restructurings. Over the past five years, he has structured and closed more than 150 financings for transactions ranging from $10 million to $2 billion.

Mr. Brady has extensive experience in intercreditor and interlender issues, secured creditor and bankruptcy rights and debt restructurings, and he regularly negotiates intercreditor and subordination agreements, agreements among lenders and other complex interlender agreements. His experience extends across a variety of industries, including technology, healthcare, energy, retail, media, communications, gaming, pharmaceuticals, biotech, manufacturing, financial services, insurance, security, and food services.

Chambers USA has recognized him for “standing out as an excellent negotiator” and being “very practical and clearly identifying the ‘must have’ versus the ‘nice to have’ elements of a transaction.”

Experience

  • The agent and lead last-out lender in a $225 million bifurcated unitranche loan to a sponsor-backed software company to refinance existing debt and fund a dividend recapitalization.
  • A second lien agent and lenders in a $45 million second lien loan to a sponsor-backed packaging company to refinance $200 million of high yield bonds.
  • The agent and lenders in a $55 million secured mezzanine loan in connection with a $195 million sponsor-backed, cross-border acquisition of a packaging company.
  • The agent and lenders in a $45 million split collateral term loan on a “last-out” basis and a $7.5 million unsecured mezzanine loan to a sponsor-backed retail company to refinance existing debt and fund a dividend recapitalization.
  • The agent and lenders in the purchase of $20 million of subordinated notes in connection with a $110 million sponsor-backed acquisition of a food service company.
  • The lenders in a $45 million holding company loan to refinance existing debt and fund a dividend recapitalization.
  • The agent and last-out lenders in a $75 million bifurcated cross-border unitranche loan consisting of U.K., Canadian and U.S. term loans to a sponsor-backed software company in order to refinance existing debt and fund a dividend recapitalization.
  • The agent and lenders in a U.K.-based €35 million mezzanine loan in connection with a €265 million sponsor-backed acquisition of a Dutch clothing retailer.
  • Secured and unsecured mezzanine lenders in connection with a $125 million consensual foreclosure of a sponsor-backed personnel company, restructuring the balance sheet and converting substantial portions of debt to equity.

Accolades and Recognitions

  • Massachusetts Super Lawyers Rising Star, 2009-2014
  • Chambers USA: Banking and Finance, 2012

Speaking Engagements and Publications

Mr. Brady is a thought leader on unitranche financings and speaks at various junior capital, multi-tranche finance and related finance conferences and seminars. His recent press and speaking engagements include:

  • Co-author, “Unitranche 2.0: A global (r)evolution,” Private Debt Investor
  • Private Debt Investor Capital Structure Forum (London): Headline Panel: “How Private Lending Has Changed the Financial Industry in Europe” panel moderator
  • Private Debt Investor Forum (New York): Panel Moderator: “Understanding Unitranche”
  • Private Debt Investor Forum (New York): Panel Moderator: “Blurred Lines: An Analysis of How the Private Debt Market is Converging”
  • Private Debt Investor Roundtable: “Drumming for Dollars,” PDI Us Special
  • IIR’s Private Debt & Mezzanine Finance: “The Forum for the Alternative Debt Markets Conference”, Paris
  • American Law Institute’s “Commercial Lending Today” Conference on Intercreditor Agreements
  • Author, “The Unitranche (R)evolution – Rapidly Evolving, Dramatically Increasing,” Bloomberg BNA

Education

  • Northeastern University School of Law, J.D., 2001
  • University of San Diego School of Law, International Business Law Program (Barcelona and London), 1999
  • Eckerd College, B.A. in Political Science, 1997