Practice

Debt Finance

Extensive experience in all aspects of secured and unsecured debt financings

Our debt finance practice specializes in representing public company borrowers in syndicated credit facilities and bond issuances, as well as privately owned companies in smaller bank facilities and venture debt financings. Whether public or private borrowers, banks, institutional lenders, investment funds, nonprofit lenders and beyond, we can help your business to achieve its goals. 
We assist our clients on the full spectrum of their debt needs across public and private debt. Our clients include public and private borrowers, as well as banks, private and debt funds, nonprofit lenders and other lenders. 

We frequently handle debt financings in connection with mergers, acquisitions and leveraged recapitalizations, including leveraged buyouts and private equity transactions. Our clients borrow in the market regularly, and we stay on top of trends in structuring, covenants and pricing. We understand how major lenders negotiate and the points on which they are most (and least) flexible, all of which enables us to help our clients efficiently close a mutually satisfactory financing transaction.

Our debt team is known nationally as a best in class team.  We have been described as “commercial and practical, with a great demeanor” by Chambers USA. 
 

Areas of Focus

We bring extensive experience and a collaborative approach between borrowers and lenders to assist our clients in a range of debt financing transactions, including:
  • Syndicated senior bank credit facilities
  • First and second lien financings
  • Mezzanine and other subordinated debt financings, including SBIC financings
  • Public and Rule 144A debt offerings
  • Public and private convertible debt transactions
  • Fund finance capital call and portfolio leverage facilities
  • Solar construction/term loan financings
  • Cannabis growth and acquisition financing
  • Corporate and debt restructurings
  • Debtor-in-possession financings
  • Leveraged equipment lease transactions

Key Contacts

Related Practices & Industries

As our knowledge is wide-ranging, our attorneys also specialize in a number of related areas:

What is a Sustainability-Linked Loan, and Should My Company Get One?
Under pressure from shareholder groups, investors and customers, you might already have “green initiatives” in your business plan, and you probably have already identified risks related to climate change and other social and environmental factors. Is there a way to cash in on what you are already doing by accessing the growing market for sustainability-linked loans (sometimes referred to as ESG-linked loans)? Here we will refer to these loans as sustainability-linked loans or SLLs.
Read more
10 Things to Know About Venture Debt
After the venture debt shake up in March 2023, there was an expectation that venture debt funding would dry up. However, as new players have entered the scene and equity markets remain tight, venture debt financing continues to be a popular source of funding for companies unable or willing to access the equity markets. Rather than pursue what may be a down-round equity financing and often at the encouragement of their venture investors, early stage companies are continuing to line up venture debt facilities for additional working capital and to shore up their balance sheets. Before taking on a venture debt credit facility here are 10 things a borrower should know.
Read more

News & Insights

Experience

We have an impressive track record of representing companies of all sizes in debt financing matters.

BIOTECH AND LIFE SCIENCES
  • Pear Therapeutics, a pioneer of prescription digital therapeutics, in closing a $50 million secured loan transaction with Perceptive Advisors
  • Biogen, a global biotechnology company, in connection with its registered offering of $3 billion senior unsecured notes and its $1 billion senior unsecured revolving credit facility
  • A pharmaceutical company in connection with a $150 million royalty notes financing
  • Apublic life sciences company in multiple financings, including:
    • $2.1 billion syndicated senior secured term loan and revolving credit facilities, and $1.95 billion refinancing of these facilities
    • $1.3 billion syndicated first lien and second lien senior credit facilities to finance tender offer acquisition of public company and provide working capital
  • Organogenesis with Silicon Valley Bank as administrative agents in  $100 million syndicated revolving and term loan facilities

RETAIL
  • A private equity firm in $46 million credit facilities to finance in part a going private acquisition of a public restaurant chain company
  • An investment fund in an $8 million secured mezzanine debt and warrant investment in a public company in the cosmetics industry
  • A major bank in extending a $100 million syndicated senior revolving credit facility to a retail marketing company
  • A private equity firm in senior secured term loan and revolving credit facilities for a portfolio grocery chain company
  • A private equity firm in $46 million credit facilities to finance part of a going private acquisition of a public restaurant chain company

VARIOUS INDUSTRIES
  • Sensata Technologies Inc., an indirect, wholly owned subsidiary of Sensata Technologies Holding, in a Rule 144A offering of $750 million in aggregate principal amount of 3.75% senior notes due 2031
  • Sensata Technologies in multiple financings, including:
    • the refinancing and amendments of its $1.45 billion syndicated senior secured revolving credit and term loan facilities
    • its Rule 144A offering of $450 million senior notes
    • the amendments and consents obtained from lenders relating to approximately $3.7 billion of debt consisting of high-yield bonds and senior secured credit facilities
  • Entegris with Goldman Sachs as administrative agents in $700 million syndicated revolving credit and term loan facilities
  • Metropolitan Partners Group as administrative agent and lender in a $20 million debt financing transaction for a private borrower
  • KVH Industries in a $46.5 million senior secured term loan and revolving credit facilities with Bank of America
  • AstroNova in a $39.2 million senior secured term loan and revolving credit facilities with Bank of America
  • CRA International in a $125 million syndicated senior secured revolving credit facility with Citizen Bank as administrative agent
  • A Colorado state credit union in extending numerous credit facilities to small cannabis operators
  • Several solar energy developers in arranging construction/term project financing for hundreds of millions of dollars.
  • A large direct lending fund sponsor in dozens of fund capital call facilities


PRIVATE EQUITY

  • A private equity sponsor in connection with its debt financing for the leveraged buyout of a private health services company involving $27 million senior secured credit facilities
  • A private equity firm in debt financing for leveraged buyout of a public audio products company involving $85 million term loan and $40 million asset-based credit facility
  • A large West Coast private equity sponsor in a series of credit facilities for a company providing customer-selected music in public settings
  • A private equity sponsor in a $435 million first-lien and second-lien financing for the acquisition of an agricultural products company
  • An investment management firm in a leveraged recapitalization transaction with a leading national private equity firm, involving a $46.5 million senior credit facility provided by a bank syndicate and $30 million senior subordinated debt and $81 million junior debentures provided by the private equity firm
  • A sponsor of private investment funds to make mezzanine debt and equity investments ranging from $2-20 million in multiple types of businesses
  • An investment management firm in a leveraged recapitalization transaction with a leading national private equity firm, involving a $46.5 million senior credit facility provided by a bank syndicate and $30 million senior subordinated debt and $81 million junior debentures provided by the private equity firm

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