INDUSTRIES & PRACTICES

credit worthy experience

Lending Transactions
LENDERS AND BORROWERS KNOW WHEN THEIR LAWYERS ARE SAVVY TO CURRENT CREDIT MARKET TRENDS – IT IS OUR COMMITMENT TO SERVE CREDIT TRANSACTION CLIENTS WITH THE MOST SOPHISTICATED COUNSEL AVAILABLE.

Overview

Dorsey has a long history of guiding lenders and borrowers through complicated transactions.  Our representation of agent banks, lenders and borrowers covers a wide range of transactions, such as the following:

  • Commercial lending including syndicated and single-lender transactions
  • Leveraged financings including senior and mezzanine private-equity based acquisition financings and other leveraged financings
  • Real estate finance
  • Tribal finance
  • Project finance
  • Mortgage warehouse finance
  • Agricultural lending
  • Asset based lending and other secured and unsecured loan transactions
  • Capital markets transactions including note placements
  • Operating and capital lease transactions (representation of lessors and lessees)

Experience

Representative Transactions
Representative Syndicated Loan Transactions – Agent Representations

  • $425 million Senior Secured Revolving Credit Facility with twelve lenders and a borrower in the sporting goods retail business.
  • $375 million Senior Secured Revolving Credit and Term Loan Facility with twelve lenders and a borrower in the transportation logistics business.
  • $300 million Senior Secured Revolving Credit Facility with four lenders and a borrower in the power generation and infrastructure business.
  • $290 million Senior Secured Revolving Credit and Term Loan Facility with seven lenders and a borrower in the gaming business.
  • $250 million Unsecured Revolving Credit Facility with six lenders and a borrower in the specialty construction business.
  • $150 million Unsecured Multicurrency Facility Revolving Credit with three lenders and a borrower in the food manufacturing business.

Representative Syndicated Loan Transactions – Borrower Representations

  • An electric power supplier with respect to its $750 million syndicated secured revolving credit facility.
  • A medical device company with respect to its $1.5 billion senior syndicated revolving credit facility.
  • An oil and gas company with respect to its $1.1 billion senior secured syndicated credit facility.
  • An agribusiness company with respect to its $2.5 billion syndicated revolving credit facility.
  • A retailer with respect to its $1 billion senior secured syndicated revolving loan credit facility and $1.5 billion senior secured syndicated term loan facility.
  • A Native American tribe with respect to its $200 million senior secured syndicated credit facility.

Representative Leveraged Finance Transactions

  • A national mezzanine sponsor in connection with a $4.5 million senior subordinated credit facility and $2 million equity co-investment in favor of a manufacturer of magnets and engine components.
  • A national mezzanine sponsor in connection with a $4.75 million senior subordinated credit facility and detached equity co-investment investment in favor of a network of physical therapy clinics.
  • A national mezzanine sponsor in connection with an $8.6 million senior subordinated credit facility with warrants to purchase equity interests in favor of a national catalog seller of pool supplies and equipment.
  • The portfolio company of a national equity sponsor operating data center sites in the Western U.S. in connection with two refinancings of existing senior indebtedness in the amount of $35 million and $25 million, respectively.
  • The portfolio company of a national equity sponsor in connection with the acquisition of a chain of clinical trial drug-testing facilities, including senior debt facilities of $9.5 million and a subordinated debt facility of $5.5 million.
  • The portfolio company of a national equity sponsor in connection with the acquisition of the rail-car cleaning division of a multi-national company, including senior debt facilities of $12.6 million and a subordinated debt facility of $4 million.

Additional Representative Transactions

  • A national bank in a $250 million multi-currency syndicated credit facility to a U.S. food manufacturer and its Canadian affiliate involving U.S. and Canadian real estate and personal property collateral.
  • A national bank in a $450 million multi-currency syndicated credit facility to finance the acquisition and roll-up of a heavy truck parts manufacturer and its affiliate and involving U.S. and UK collateral.
  • A national asset-based lender in a $45 million multi-lender, asset-based loan facility to a national trucking company.
  • A national financial institution in a $40 million equipment loan facility with two lenders
  • A major independent residential mortgage loan funding company in structuring a $125 million warehouse facility financed by institutionally-placed variable and fixed funding notes.
  • A national asset-based lender in a $15 million asset-based acquisition loan facility to a manufacturer of polyethylene pipe.

Accolades

Contacts

Peter Harris
Practice Group Co-Chair
Betsy Parker
Practice Group Co-Chair

Industries & Practices

  • Banking
  • Bankruptcy & Financial Restructuring
  • Consumer Financial Services
  • Corporate Trust Services
  • Financial Services Regulatory
  • Securities & Financial Services Litigation & Enforcement
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