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Loans & Credit Facilities
The Banking and Finance Practice Group represents both financial institutions and corporate borrowers in every aspect of loan transactions.
These transactions include single bank loans and credit facilities (ranging from short-term unsecured facilities to global banking facilities involving multi-jurisdictional collateral), bilateral loans, syndicated loans, and participations, and are typically comprised of term loans, revolving loans, letter of credit facilities, and/or bid loan facilities.
The Group also represents financial institutions in their capacities as agents, senior lenders or other syndicate members, sellers or purchasers of participations, and assignors or assignees of direct loan interests.
The Group has related and substantial experience structuring cross-border facilities, both secured and unsecured, on behalf of financial institutions and corporate borrowers, as well as advising on trade-financing transactions. The practitioners within the Group advise on and document lending transactions, counter-trade and barter transactions, and facilities for documentary letters of credit, collections, bankers' acceptances, silent confirmations, forfeiting, and credit insurance.
Representative projects in this area include:
- Representation of a large US-based manufacturer of office furniture in connection with a US$200 million revolving loan and working capital facility provided by a major international bank, as agent, and a syndicate of banks.
- Representation of a major Italian bank in connection with a US$2.4 billion revolving and term loan facility for a major financial services company.
- Representation of a major German corporation and various of its subsidiaries in connection with a US$300 million secured senior and senior subordinated credit facility by a major English financial institution for the acquisition of various US-based and European-based entities.
- Representation of an entertainment company and its subsidiaries as borrower and guarantors in connection with a US$450 million senior secured syndicated facility containing term, revolving, and letter of credit facilities.
- Representation of a major French bank in connection with a US$1 billion credit facility for a major farm equipment manufacturer.
- Representation of a major German bank, as lender and as agent for a syndicate of international banks, in connection with a US$300 million subordinated revolving credit facility to a US subsidiary of a major international airline in support of numerous acquisitions by such subsidiary.
- Representation of a major British communications company as borrower in connection with a US$175 million syndicated term loan facility led by a major French bank to finance two acquisitions.
- Representation of a large US steel company as borrower in connection with a US$130 million secured term and capital expenditure credit facility and US$75 million secured revolving credit facility from a syndicate of lending institutions, such facilities partially guaranteed by the United States General Emergency Steel Loan Guarantee Board.
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