Capital Markets and Leveraged Finance

Looking Ahead: What to Expect in 2023

Looking into 2023, rising interest rates and other global challenges have our clients looking strategically at their debt picture and focusing on acquisitions, public listings and facility wind-downs in order to recapitalize and refocus their businesses and competitive positions.   We also foresee many small businesses seeking financing to take advantage of new markets like cannabis, consumer lending, art, and digital assets, and larger clients providing or seeking  financing in growing markets such as oil and gas,  sports betting, gaming, and renewable energy.  

Client Highlights

• Carter Ledyard Client Seaco SRL Completes Key Amendments to Its Financing Facilities
  Carter Ledyard client Seaco SRL, with its affiliates, one of the world’s largest marine shipping container companies, completed a series of seven transactions across more than $5 billion in debt facilities, to amend each of the facilities to remove or revise provisions related to change of control events that would potentially have interfered with the companies’ capital structure in the future. The transactions covered seven different financing structures, requiring consents, disclosures, and filings in multiple international jurisdictions. 
• Carter Ledyard Client Global SC Finance SRL Completes $1.365 Billion Credit Agreement
  Carter Ledyard client Global SC Finance SRL, a wholly owned subsidiary of Seaco SRL entered into a Credit Agreement providing revolving credit of up to $1.365 billion with a group of financial institutions as Lenders and PNC Bank, National Association, as Administrative Agent. 
• Carter Ledyard Client Greenfire Resources Inc. Completes Fourth and Fifth Supplemental Indentures
  Represented longtime client Greenfire Resources Inc., in the execution of the company’s Fourth and Fifth Supplemental Indentures for its Senior Secured Notes due 2025, providing for additional capital expenditures totaling USD $60 million to increase oil and gas production and also to defer the company’s required expenditures for hedging. 
• Bank of New York Mellon Serves as Trustee in Connection with the Issuance of $1.6 Billion of Puerto Rico Highways and Transportation Authority Obligations
  Carter Ledyard represented to The Bank of New York Mellon, as Trustee under the Master Trust Agreement dated as of December 6, 2022, as supplemented.