Commercial Finance

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EXPERIENCE

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We treat your goals as our own at every stage of the transaction.

Not all paths to closing the deal are the same. Whether you are a borrower or a lender, an experienced hand can bring order to the moving parts of a deal, safeguarding your interests and the long-term relationships that allow businesses to thrive.

HOW WE HELP

Our Commercial Finance attorneys keep client objectives in mind at every stage of a transaction, recommending straightforward approaches, loan structures, and financing options that can achieve those objectives in the shortest timeframe. From origination and negotiation to structuring and closing, our team regularly represents global and regional banks; credit unions; specialty finance companies; commercial finance, leasing, and insurance companies; private equity; hedge funds; venture capital firms and other nontraditional lenders; private and public lenders; and founders and CEOs.

Our attorneys work with clients on both the lender and borrower sides, drawing on their experience in domestic and global deals in industries such as health care, manufacturing, professional service businesses, and real estate. Chambers recognizes our team as among the best in the Banking and Finance industry as well as Capital Markets: Securitization - ABS. We partner with national finance clients as well as local lending sources and we appreciate the nuances of both platforms.

OUR SERVICES

We offer full service representation, from origination and negotiation to structuring and closing. In addition to our core lender and borrower representations, our lawyers have vast experience with a broad range of transactions and related issues, including:

Syndicated, club and single bank credit facilities involving asset-based loans and cash-flow loans
Senior secured and unsecured credit facilities
Mezzanine, second lien and other junior capital arrangements and related equity components
Structured products and asset securitization transactions
Equipment leasing transactions, including leveraged and synthetic leasing arrangements
Specialty financing, including health care financing and related regulatory issues
Acquisition financing, including leveraged buyouts and management buyouts
Loans involving employee stock ownership plans (esops)
Credit enhancements, including letters of credit and guaranties
Project finance, including community development bonds
Workouts, restructurings and bankruptcy matters, including debtor-in-possession (DIP) financings

THE SEYFARTH EXPERIENCE

Clients engage with us because we are experienced, thorough, and efficient. We bring an experienced understanding of market terms and customs to drive a smooth process, helping clients close transactions efficiently and quickly, while carefully safeguarding their interests and long-term relationships.

Seyfarth’s commercial finance lawyers bring creativity to the deal process by using the firm’s service delivery resources, leveraging a thoughtful process and technology tools to streamline each transaction. This ensures overall value and consistent service delivery.

Our team frequently connects clients with other Seyfarth attorneys who can carry transactions through their full life cycles, including workouts, bankruptcies, and restructurings. For complex transactions, we create global, cross-disciplinary teams that include real estate, health care, tax, corporate, intellectual property, litigation, employee benefits, and bankruptcy attorneys to provide 360-degree counsel and solutions.

EXPERIENCE

Whether our client is a lender or borrower, large or small, our commercial finance team is equipped with the know-how to handle the deal. We’ve handled transactions ranging in size from $5 million to billions.

Lender Representations

Represented the joint lead arranger, collateral agent, and lender in a $2 billion senior, secured, syndicated revolving credit facility to one of the largest toy store retailers in the world, including cross border guaranties and collateral from its foreign subsidiaries.
Represented a regional bank in term loan facilities valued at $370 million to a borrower for working capital, purchasing of equipment, and permitted acquisitions.
Represented a leading financial institution as credit enhancement provider in a substitution of liquidity facility with respect to a $208 million senior bond series.
Represented a leading financial institution in a $150 million loan to support the merger of two REITs.
Represented a diversified financial services company as co-lender in a $130 million credit facility to a portfolio company of a private equity firm in the health care industry. A significant portion of the loan was used for a dividend recapitalization.
Represented the US subsidiary of a foreign bank as lead lender in a $50 million syndicated financing of a NYSE company "go-private" transaction.
Represented a commercial bank in connection with a $30 million revolving and term loan facility used by a private equity firm to acquire a professional employer organization based in Florida and Texas.

Borrower Representations

Represented a private equity sponsor and its portfolio companies, as borrower, in a series of acquisition loans and working capital loans, and a mix of senior and second lien debt, term loans and revolvers, intercompany debt, and joint venture financings.
Represented a family-owned and acquisitive newspaper, telecoms, and cable business, as borrower, in connection with a $250 million senior syndicated acquisition term loan.
Represented a manufacturer of auto lighting systems, as borrower, in a $195 million revolving credit facility from a syndicate of banks.
Represented a leading integrated merchandising supply chain company, as borrower, in connection with its $75 million complex loan refinancing transaction, including a revolving loan, terms loans, equipment and real estate loans.
Represented an importer, distributor, and manufacturer of premium food products, as borrower, in connection with a $45 million syndicated revolving credit facility.

Structured Finance

Represented Napier Park Global Capital in three Railcar ABS issuances, with a total issue size of $1.077 billion backed by 23,714 tank and non-tank railcars. The first issuance involved a complex consent solicitation executed in parallel with a refinancing of senior notes. The second and third issuances were designated as Green Bonds; an ESG milestone highlighting the importance that the railcar sector plays in low carbon emissions transportation.

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We treat your goals as our own at every stage of the transaction.

HOW WE HELP

OUR SERVICES

Syndicated, club and single bank credit facilities involving asset-based loans and cash-flow loans
Senior secured and unsecured credit facilities
Mezzanine, second lien and other junior capital arrangements and related equity components
Structured products and asset securitization transactions
Equipment leasing transactions, including leveraged and synthetic leasing arrangements
Specialty financing, including health care financing and related regulatory issues
Acquisition financing, including leveraged buyouts and management buyouts
Loans involving employee stock ownership plans (esops)
Credit enhancements, including letters of credit and guaranties
Project finance, including community development bonds
Workouts, restructurings and bankruptcy matters, including debtor-in-possession (DIP) financings

THE SEYFARTH EXPERIENCE

EXPERIENCE

Lender Representations

Represented the joint lead arranger, collateral agent, and lender in a $2 billion senior, secured, syndicated revolving credit facility to one of the largest toy store retailers in the world, including cross border guaranties and collateral from its foreign subsidiaries.
Represented a regional bank in term loan facilities valued at $370 million to a borrower for working capital, purchasing of equipment, and permitted acquisitions.
Represented a leading financial institution as credit enhancement provider in a substitution of liquidity facility with respect to a $208 million senior bond series.
Represented a leading financial institution in a $150 million loan to support the merger of two REITs.
Represented a diversified financial services company as co-lender in a $130 million credit facility to a portfolio company of a private equity firm in the health care industry. A significant portion of the loan was used for a dividend recapitalization.
Represented the US subsidiary of a foreign bank as lead lender in a $50 million syndicated financing of a NYSE company "go-private" transaction.
Represented a commercial bank in connection with a $30 million revolving and term loan facility used by a private equity firm to acquire a professional employer organization based in Florida and Texas.

Borrower Representations

Represented a private equity sponsor and its portfolio companies, as borrower, in a series of acquisition loans and working capital loans, and a mix of senior and second lien debt, term loans and revolvers, intercompany debt, and joint venture financings.
Represented a family-owned and acquisitive newspaper, telecoms, and cable business, as borrower, in connection with a $250 million senior syndicated acquisition term loan.
Represented a manufacturer of auto lighting systems, as borrower, in a $195 million revolving credit facility from a syndicate of banks.
Represented a leading integrated merchandising supply chain company, as borrower, in connection with its $75 million complex loan refinancing transaction, including a revolving loan, terms loans, equipment and real estate loans.
Represented an importer, distributor, and manufacturer of premium food products, as borrower, in connection with a $45 million syndicated revolving credit facility.

Structured Finance

Represented Napier Park Global Capital in three Railcar ABS issuances, with a total issue size of $1.077 billion backed by 23,714 tank and non-tank railcars. The first issuance involved a complex consent solicitation executed in parallel with a refinancing of senior notes. The second and third issuances were designated as Green Bonds; an ESG milestone highlighting the importance that the railcar sector plays in low carbon emissions transportation.