Lending Team Closes Impressive Series of Deals in Q3

Thursday, August 30, 2012

The third quarter continues to be active for members of our lending team. Led by Michael Clain (Partner, New York), deal activity included the representation of:

  • A prominent bank, serving as lender and agent, in connection with an amendment to a $12 million revolving credit and security agreement with the borrower, a chemical and plastics importer and distributor, to allow for a separate supply chain financing facility for the borrower with an international bank, including related intercreditor agreements (the deal team also included James Pastore and Kaylie Lotzof).
  • A prominent bank in an $8 million revolving credit and term loan facility to refinance a company that partners with hospitals to build and develop wound and hyperbolic centers. The firm is proud to have closed this transaction in nearly one month from the date of credit approval, while having negotiated terms favorable to the bank (the deal team included Kaylie Lotzof).
  • A prominent bank in a $9 million senior secured term loan to refinance a company that is engaged in the development of traditional stand alone restaurants (the deal team included Kaylie Lotzof).
  • A leading bank, as lender, in connection with a $1.5 million revolving credit facility to the borrower, an operator of a day camp, secured by all assets of the borrower with secured guaranties of certain of its affiliates and guaranties from the principals of the borrower, and a $4 million term loan to certain affiliates of the borrower, secured by all of their assets, including five parcels of real property owned by such affiliates (the deal team also included James Pastore and Deborah Bindler).
  • A leading bank in the refinancing of a large portfolio of sponsor-owned luxury condominium units. The transaction involved a number of complex issues, including conveyance of unsold units to various sponsor affiliates, analysis of the sponsor's confirmed bankruptcy plan, discharge of mechanic's liens of record and coordination with other lenders and the title company (the deal team also included Deborah Bindler and Leslie Barr).