Middle Market Lending

Experience

We have extensive experience representing lenders in middle market transactions in a wide range of industries, including:

• manufacturing;
• consumer electronics;
• technology;
• marine transportation and shipbuilding;
• commercial and corporate aviation;
• trucking;
• electric generation and transmission;
• telecommunications;
• biotechnology;
• metals trading;
• chemical processing;
• paper manufacturing;
• apparel; and
• retail.

Representative Matters

• Represented the lead lender and administrative agent on a $150 million syndicated senior secured revolving credit facility for a major supermarket cooperative to support its warehouse facility expansion programs and other working capital needs. The transaction entailed negotiation and documentation of intricate intercreditor terms between the working capital lenders and the institutional holders of privately placed senior secured long-term notes.
• Represented a major national bank in a $150 million bi-lateral revolving credit facility to support the working capital and acquisition activity of a major developer/designer of software products to governmental entities and financial institutions. The transaction involved negotiation and documentation of intercreditor terms with a major software products supplier and the integration of ancillary supply chain settlement financing.
• Represented an agent bank, lead syndicator and collateral agent in connection with a transaction to provide credit enhancement for $145 million in first mortgage bonds and $65 million in second mortgage bonds issued to finance the encapsulation and remediation of environmentally sensitive areas in preparation for mixed use redevelopment.
• Represented the senior lender on a $70 million multi-currency, multi-rate senior secured credit facility, which included the refinancing of an agented multi-bank credit facility in favor of a single bank structure, all in anticipation of an IPO of a portion of the company's ownership held by its founders and equity sponsors.
• Represented a national banking institution in connection with a $50 million credit facility to finance various marine facility improvements and vessel construction and acquisition projects for a major marine construction and dredging operation and to support its working capital needs.
• Represented the lead lender and administrative agent in connection with a $50 million senior syndicated credit facility, as well as lead arranger, in connection with the loan syndication for a trade organization and accrediting body of the electrical engineering profession.
• Represented a lender in a $45 million five-year senior secured revolving credit facility with a letter of credit sublimit, extended by a major financial institution to an importer of chemical substances and its European subsidiaries, to refinance existing debt and finance working capital needs, including the acquisition and shipment of inventory (the facility has a Eurodollar pricing option and a full set of covenants, including financial covenants).
• Represented the agent bank in a $22.5 million revolving credit and term loan facility to recapitalize a for-profit educational institution with several campuses and provide working capital.
• Represented a lender in a $14.9 million four-year senior secured revolving credit facility (with letter of credit sublimit), term loan and capex line extended by a major financial institution to a producer of nuts, dried fruit and confections to refinance existing debt and finance working capital needs and capital expenditures (the facility had a Eurodollar pricing option and a full set of covenants, including financial covenants).
• Represented a money center bank in connection with a $14 million secured revolving credit and term loan facility to a leading professional services company to provide working capital and finance leasehold improvements.
• Represented a notable lender in a $12 million three-year senior secured revolving credit facility with a letter of credit sublimit, extended by a major financial institution to an importer of chemical substances to refinance existing debt and finance working capital needs, including the acquisition and shipment of inventory (the facility had a Eurodollar pricing option and a full set of covenants, including financial covenants).
• Represented a notable lender in a $10 million three-year senior secured revolving credit facility with a letter of credit sublimit, extended by a major financial institution to a publicly traded information technology company to refinance existing debt and finance working capital needs (the facility had a Eurodollar pricing option and a full set of covenants, including financial covenants, and required the negotiation of separate intercreditor arrangements with several existing creditors).
• Represented a regional bank in a $10 million revolving credit facility to a document management and storage company.
• Represented a lender in a $9 million five-year senior secured revolving credit facility with a letter of credit sublimit, extended by a major financial institution to a jewelry retailer to refinance existing debt and finance working capital needs and the opening of store (the facility had a Eurodollar pricing option and a full set of covenants, including financial covenants).