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PRACTICE

Syndicated Loans

We represent administrative agents, lenders, and borrowers in a wide range of syndicated financing transactions across the corporate, real estate, fund finance, and asset-based markets. We advise clients in structuring agency and intercreditor provisions that govern the relationships among administrative agents and the other lenders. This includes negotiating terms to achieve the appropriate allocation of risk, such as unanimous and required lender approval provisions, waterfall provisions, and defaulting lender provisions.

As a member of the Loan Syndications and Trading Association (LSTA), we are well versed in the latest trends in the syndication markets. Our experience spans all types of syndicated loan facilities, including revolving credit facilities, term A loans, term B loans, construction loans, permanent real estate financings, acquisition and equipment financings, and capital call credit facilities. 

Representative Matters

  • Represented two lenders, as agent for each, in connection with a $207.5 million syndicated construction loan to finance the construction of the Legg Mason Tower, a mixed-use hotel, residential, and retail high-rise project in Baltimore, MD.
  • Represented a lender, as agent and lead lender, on a syndicated $147 million senior secured construction facility for the construction of a 170-key Ritz Carlton hotel and 23 branded whole ownership residences.
  • Represented a national bank, as agent, in connection with a $130 million syndicated term loan to refinance and provide lease-up and renovation financing for two office and retail buildings in Crystal City, VA.
  • Represented a lender, as agent, in connection with a $96.7 million syndicated construction loan to finance construction of a mixed-use, 474-unit residential apartment and retail project in Arlington, VA.
  • Represented an agent bank in a $200 million revolving line of credit facility for a major homebuilder.
  • Served as lead counsel to an administrative agent in $60 million syndicated construction financing for a retail property.
  • Served as lead counsel to an administrative agent in an amendment and restatement of single-bank construction loan documentation into a $67 million syndicated term loan.
  • Served as lead counsel to an administrative agent in connection with syndicated term financing to an entity controlled by CV REIT for the purpose of financing the acquisition costs related to an AT&T data center located outside Chicago, IL.
  • Served as lead counsel to an administrative agent in connection with $393 million term financing secured by a pool of 38 industrial properties.
  • Served as lead counsel to an administrative agent/initial sole lender in an aggregate of up to $167 million in term financing to two separate borrowers related to 20 office and industrial properties located in the Midwest and California.
  • Served as lead counsel to an agent ban
  • Served as lead counsel to a multinational producer of premium specialty papers and resin-based products in connection with a $500 million syndicated revolving credit facility.
  • Served as lead counsel to a publicly held farm equipment distributor and manufacturer in connection with a $1 billion acquisition revolving credit and term loan credit facility.
  • Served as lead counsel to a publicly held multinational equipment manufacturer in connection with a €200 million term loan facility.
  • Served as lead counsel to a regional provider of fiber-based bandwidth infrastructure and services in connection with $425 million syndicated secured revolving credit and term loan facilities.
  • Served as lead counsel to a regional provider of digital wireless communications services to consumers and businesses in connection with $500 million of syndicated secured term loan facilities.
  • Served as lead counsel to a global communications technology company in connection with a $2.2 billion syndicated secured revolving credit and term loan facility.
  • Served as lead counsel to a regional, fiber-based network service provider in connection with a $235 million revolving credit and term loan credit facility.
  • Served as lead counsel to a network, communications, and IT services provider in connection with a $150 million revolving credit facility.
  • Served as lead counsel to a regional provider of digital wireless communications services in connection with a $500 million revolving credit and term loan credit facility.
  • Represented Phoenix Tower International (PTI) in a $2 billion credit facility secured by collateral in 17 countries across North and South America.
  • Represented Deutsche Bank in a $25 million cross-border term loan facility in favor of RapidMiner, Inc., secured by collateral in the U.S., Hungary, Germany, and the UK.
  • Represented the administrative agent in connection with the workout and eventual pay-off of a $632.5 million credit facility with a major finance company.

Represent administrative agents and arrangers of syndicated asset-based credit facilities, including a $290 million loan in favor of a luxury clothing retailer; and a $480 million senior secured loan in favor of an international wine and spirits importer.

Served as lead counsel to a multinational pulp and paper manufacturer in connection with a $665 million syndicated secured revolving credit facility and an $850 million secured high-yield notes offering.

Represented a multinational company with respect to a $200 million senior secured syndicated credit facility.

Represented a national homebuilder in a $500 million senior secured syndicated revolving loan credit facility.

Represented the agent bank in a $50 million senior secured revolving credit facility and acquisition term loan to a government contracts company.

Represented the agent bank in a $65 million senior secured revolving credit facility to a government contracts company in which there were multiple tranches of debt totaling approximately $630 million.

Represented a national retail corporation in a transaction involving $750 million of senior secured syndicated revolving credit and term loan facilities.

Represented a bank in connection with a $38 million loan used to acquire a health care facility in Camden County, NJ.

Represented a national bank in connection with a $16 million revolving credit facility and a $1 million term loan.

Represented a national bank in connection with a $10 million revolving credit facility with a subfacility and a $500 million equipment term loan.

Represented a national bank in a $65 million secured asset-based line of credit to a public government contractor.

Our attorneys represent museums and other nonprofits on governance matters and compliance with applicable IRS rules and regulations on an array of charitable funds issues. We advise clients about the investment, management, and expenditure of endowment and other charitable funds, provide counsel on compliance with gift restrictions, and represent them in cy pres actions seeking modification of gift restrictions. On fundraising, we advise clients on compliance issues related to charitable solicitation laws. We work on a number of structured transactions, helping clients with bond issuance and with negotiations that allow a museum or other nonprofit to borrow without restricting endowment investments.

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