The composition of the Commercial Lending Practice Group demonstrates the firm’s recognition of the need for the interdisciplinary practice of law. Our group consists of lawyers from the Corporate, Intellectual Property and Insolvency & Creditors’ Rights/Bankruptcy Transactions.
Secured Lending
As lender’s counsel we have represented banks, insurance companies and pension funds. We are experienced in creating security interests in all types of collateral, including inventory and equipment, accounts receivable, securities and partnership interests, trademarks, patents, cable franchises, works of art and government contracts, as well as real property, rents, hotel receivables and the like. In addition, we are familiar with guaranties, letters of credit and other credit enhancements, and sales of loans and loan portfolios. We give commercial loan transactions partner-level attention from initial commitment to completion, which not only expedites the transaction but also provides a high level of service and an efficient allocation of resources.
We represented the agent in a $23.5 million senior secured syndicated loan to a food company in connection with the acquisition of the company by a private equity firm. The facility consisted of a Tranche A term loan, a Tranche B term loan and a revolving loan. We subsequently worked on the appointment of a successor agent and represented the successor agent in connection with sales of interests in the loan.
We represented the agent in a $35 million senior secured syndicated loan to a publishing company in connection with an acquisition by a partnership of Goldman Sachs and other investors.
We believe it is important to understand the borrower’s business as well as any unusual issues raised by the nature of the borrower’s assets that would serve as collateral for a commercial loan. Accordingly, lawyers in various disciplines and practice groups within the firm assist in documenting and implementing commercial loans when their particular skills and experience are required.
For example our Insolvency and Creditors’ Rights/Bankruptcy Transactions Practice Group, with extensive experience in representing lenders in bankruptcy proceedings, reviews loan transactions and documentations and provides advice as needed prior to loan closings; and our Intellectual Property Group is available to assist in patent, trademark and copyright security agreements and to perfect related security interests. This type of interdisciplinary cooperation represents a valuable asset for our clients.
Borrower Transactions
We represent commercial borrowers in secured and unsecured borrowing arrangements, both privately placed and publicly underwritten.
We represented the owners of luxury hotels in Charleston, San Francisco and New Orleans in financings secured by those properties.
We represented the borrower in a financing secured by one of the leading restaurant properties in New York City.
We represented an international mining and minerals company in a $250 million project loan secured by assets in Chile.
Financial Institution Product Development
We have assisted financial institutions in developing credit card programs, commercial paper programs, plain language consumer loan documentation, commercial loan documentation manuals, consumer loan compliance manuals, new forms of lending arrangements and counseling on derivative transactions.