Michael J. Clain

Partner

Michael focuses on the structuring, negotiation, and documentation of a variety of credit products, including broadly syndicated corporate loans, asset-based loans, cash flow loans, trade and supply-chain finance, the purchase and sale of individual loans and loan portfolios, and the workout of troubled assets. His clients include money-center and regional banks, foreign banks, investment funds and finance companies.

Representative Transactions - Middle Market ABL

  • $45 million senior secured revolving credit facility to an importer and distributor of chemicals and its European subsidiaries.
  • $22.5 million secured revolving credit facility to a taxi medallion financing and servicing company.
  • $9 million senior secured revolving credit facility to a sponsor-owned jewelry retailer.
  • $11 million senior secured credit facility to finance the acquisition of a specialty transportation company by two private equity funds.
  • $14 million senior secured credit facility to an importer and distributor of specialty apparel and footwear.
  • $15 million senior secured credit facility to a sponsor-backed graphics and communications company.

Representative Transactions - Middle Market Cash Flow

  • $97 million unsecured line of credit to a large healthcare company.
  • $45 million senior loan to a newly-formed subsidiary of a European conglomerate to finance the acquisition of a vineyard.
  • $23 million senior term loan and revolving credit facility to a for-profit education institution owned by several financial sponsors.
  • $18 million secured credit facility to a key supplier of a major car manufacturer.
  • $15 million secured credit facility to a distributor of consumer electronics products.
  • $15 million senior secured revolving credit facility to an auto parts manufacturer.

Representative Transactions - Broadly Syndicated Loans

  • Regularly serve as counsel to several large banks in connection with their participation in broadly syndicated corporate transactions.
  • Counsel to an asset-based lender in connection with the purchase of a $25 million assignment in a $175 million senior secured revolving credit facility to a business development company.
  • Counsel to a foreign bank in connection with the purchase of an $87.5 million participation in a $1 billion margin loan to a media holding company.

Authored

Memberships & Professional Affiliations

  • American Bar Association (Member of the Business Law and International Law Sections)
  • Herman Goldman Foundation (Director)
  • Pelham Civic Association (Director)
  • Village of Pelham, New York (Former Mayor)

Recognition

  • SuperLawyers New York Metro 2015 to 2018 - Banking
  • SuperLawyers New York Metro 2014 - Banking, International and Securities & Corporate Finance


Michael J. Clain

MICHAEL J. CLAIN
CONTACT | DOWNLOAD VCARD

New York, NY
T. 212.237.1035
F. 212.262.1215

PRACTICES
EDUCATION
  • J.D., Harlan Fiske Stone Scholar, Columbia University School of Law, 1981
  • B.A., Binghamton University, 1978

ADMISSIONS
  • New York