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Commercial Finance
Katten's nationally recognized Commercial Finance Practice represents banks, investment funds, finance companies and other financial institutions providing debt capital in a wide variety of financing transactions, including leveraged buyouts, acquisition financing, refinancings and recapitalizations. We draw upon the vast experience of Katten professionals in various disciplines to ensure that our clients receive the highest quality of counsel on structural, tax, regulatory and other aspects of any given transaction. Members of the Commercial Finance Practice work closely with our creditors’ rights, tax, health care, ERISA, corporate, real estate, litigation, financial services, private equity and securities practices to effectively represent lenders within a specific industry, such as health care or media, or with a structural focus, such as ESOP ownership or post-petition/exit financings. Our lending clients benefit from our invaluable perspective gained from representing issuers and supporting Katten’s other practices.
Katten's nationally recognized Commercial Finance Practice represents banks, investment funds, finance companies and other financial institutions providing debt capital in a wide variety of financing transactions, including leveraged buyouts, acquisition financing, refinancings and recapitalizations. We draw upon the vast experience of Katten professionals in various disciplines to ensure that our clients receive the highest quality of counsel on structural, tax, regulatory and other aspects of any given transaction.
Members of the Commercial Finance Practice work closely with our creditors’ rights, tax, health care, ERISA, corporate, real estate, litigation, financial services, private equity and securities practices to effectively represent lenders within a specific industry, such as health care or media, or with a structural focus, such as ESOP ownership or post-petition/exit financings. Our lending clients benefit from our invaluable perspective gained from representing issuers and supporting Katten’s other practices.
Senior Lending
Our senior lending practice focuses on the representation of administrative agents, lead arrangers and bookrunners in syndicated senior secured and unsecured financing transactions consisting of both cash flow and asset-based loans. Proceeds of such financings typically support leveraged buyout, recapitalization, acquisition, consolidation and refinancing transactions.
Mezzanine Finance
Members of our Commercial Finance Practice also represent investors in mezzanine investments, so-called term B loans, second lien term loans, preferred equity investments and other forms of junior capital. Our experience and active role in the market provide us with unique insight into intercreditor and subordination arrangements.
Other Financings
Our commercial finance attorneys have extensive experience in "unitranche" financings, first-out/last-out transactions with "agreements among lenders," Islamic (Shari’ah-compliant) transactions, secured and unsecured “PIPE” investments, short-term bridge financings, distressed debt financings, debtor-in-possession and exit financings, project finance transactions, participations, warehousing facilities and other securitizations and similar financings involving a wide variety of asset types.
Borrower Representation
We also have significant experience representing borrowers and equity sponsors in senior secured and mezzanine investments, frequently working side-by-side with attorneys in our Private Equity Practice in leveraged buyout and recapitalization transactions.
Representative Clients
- Ableco Finance LLC
- Aldine Capital
- Antares Capital Corporation
- Ares Capital Corporation
- Bank of America, N.A.
- BMO Harris Bank, N.A.
- Bridge Finance Group, LLC
- Brown Brothers Harriman & Co.
- Caltius Partners
- CapitalSource Bank
- CapitalSource Finance LLC
- Chase Capital Corporation
- Dymas Funding Company, LLC
- Fifth Third Bank
- First American Bank
- GE Antares Capital Corporation
- GE Franchise Finance
- General Electric Capital Corporation
- Golub Capital Incorporated
- GSO Capital Partners, LP
- JPMorgan Chase Bank, N.A.
- Madison Capital Funding LLC
- Maranon Capital
- Midwest Mezzanine Funds
- NXT Capital LLC
- Orchard First Source Capital
- Prairie Capital, L.P.
- Prism Mezzanine Funds
- The PrivateBank and Trust Company
- Royal Bank of Scotland plc
- Victory Park Capital Advisors
- York Capital Management
Professionals
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Chicago
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Chicago
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New York
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Chicago
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Los Angeles - Downtown
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Chicago
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London
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Chicago
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Chicago
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Chicago
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New York
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Chicago
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Chicago
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Chicago
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Chicago
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New York
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Chicago
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Chicago
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Chicago
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Chicago
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London
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Chicago
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Chicago
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Chicago
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Chicago
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Washington, D.C.
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Chicago
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Los Angeles - Downtown
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Chicago
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Chicago
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Chicago
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Chicago
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New York
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Chicago
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Chicago
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Other Professionals
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June 19, 2013
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July 5, 2011
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October 29, 2010
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September 2009
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July 13, 2009
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June 15, 2009
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June 11, 2009
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June 5, 2009
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May 20, 2009
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May 4, 2009
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April 16, 2009
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March 26, 2009
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March 18, 2009
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March 12, 2009
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March 3, 2009
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February 26, 2009
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February 12, 2009
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February 10, 2009
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January 27, 2009
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January 16, 2009
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December 23, 2008
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December 1, 2008
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November 18, 2008
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November 12, 2008
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October 15, 2008
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October 13, 2008
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October 13, 2008
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September 29, 2008
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September 23, 2008
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September 22, 2008
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March 24, 2008
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April 4, 2007
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April 17, 2006
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Represented Administrative Agent, Revolver Agent and Lenders in connection with a $345,000,000 “unitranche” Senior Secured Credit Facility to facilitate the leveraged buyout of a national spring and fastener manufacturer comprising over 13 divisions.
Proceeds of the facility were used to consummate the acquisition, refinance existing debt and provide ongoing working capital and funds for future acquisitions.
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Represented Administrative Agent, Revolver Agent and Lenders in connection with a $180,000,000 “unitranche” Senior Secured Credit Facility provided to two leading providers of outsourced data collection services via phone and internet surveys.
Proceeds of the facility were used to refinance debt and the combination of the companies and to provide ongoing working capital and funds to future acquisitions.
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Represented Administrative Agent, Sole Lead Arranger and Sole Bookrunner in connection with a $162,000,000 Senior Secured Credit Facility to a leading provider of enterprise resource planning and e-commerce systems software.
Proceeds of the facility were used to refinance existing debt and provide ongoing working capital. The Senior Secured Credit Facility was structured as a “unitranche” facility with “first out/last out” loans documented under a separate agreement among lenders.
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Represented Administrative Agent and Noteholders in connection with a $51,000,000 secured subordinated notes issuance
to a U.S.-based global strategic consulting firm. Proceeds of the issuance were used to refinance existing senior secured term debt and for general corporate purposes.
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Represented Administrative Agent and Noteholders in connection with a $26,000,000 unsecured subordinated notes
issuance to a foreign manufacturer of consumer photography and electronic carrying and storage devices. Proceeds of the issuance were used to consummate the acquisition, refinance existing debt and for general corporate purposes.
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Represented Administrative Agent, Joint Lead Arranger and Co-Bookrunner in connection with (i) a $275,000,000 First Lien Senior Secured Credit Facility, and (ii) a $145,000,000 Second Lien Senior Secured Credit Facility
to a national pharmaceutical products company in connection with the acquisition of a feminine products line from a Fortune 50 company. Proceeds of the facilities were used to consummate the acquisition, refinance existing debt and provide ongoing working capital.
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Represented Administrative Agent, Joint Lead Arranger and Joint Book Runner in connection with a $115,000,000 Senior Secured Credit Facility provided to a national specialty pharmacy
and health care services company. Proceeds of the facility were used to support management and the private equity sponsor in taking the company private, to refinance existing debt, and to provide ongoing working capital.
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Represented Administrative Agent, Co-Lead Arranger and Co-Bookrunner in connection with a $55,000,000 multi-currency Senior Secured Credit Facility
to a manufacturer and distributor of products used in connection with breast biopsies and related procedures. Proceeds of the facility were used to finance the acquisition of the company by a nationally recognized private equity sponsor and to provide ongoing working capital to the company and its foreign subsidiaries. The facility was secured by pledges of stock of certain Mexican, European and Far Eastern subsidiaries, and by guarantees from such subsidiaries
secured by liens on their respective assets under applicable foreign law.
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Represented Administrative Agent, Sole Lead Arranger and Sole Bookrunner in connection with multi-currency cross-border
first lien revolving credit facilities to a leading international provider of industrial heat tracing solutions. Other debt in the capital structure included $210,000,000 of second lien secured high yield notes.
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Represented Administrative Agent, Joint Lead Arranger and Joint Lead Bookrunners in an “amend and extend” of a $259,300,000 Senior Secured Credit Facility to an international distributor of hardware products.
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Represented Administrative Agent, Lead Arranger and Bookrunner in connection with restructuring of multi-currency, cross-border transaction
to reallocate commitments between domestic and international facilities and consent to and incorporate off-shore strategic acquisition and corporate reorganization involving multi-tranched capital structure.
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Represented Global Administrative Agent and Sole Lead Arranger in connection with a Senior Secured "Debtor-in-Possession" Credit Facility to a tool manufacturer and distributor.
Proceeds of the DIP facility were used to provide ongoing working capital during the course of Chapter 11 proceedings.
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Represented Administrative Agent in connection with a Senior Secured Credit Facility to a tool manufacturer and distributor
exiting proceedings under Chapter 11 of the United States Bankruptcy Code. Proceeds of the exit facility were used to finance the acquisition of the company by a nationally recognized private equity sponsor, refinance debt and provide ongoing working capital.
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Represented Administrative Agent, First Lien Collateral Agent, Sole Lead Arranger and Sole
Bookrunner in connection with a $222,000,000 First Lien Credit Facility and $80,500,000 Second Lien Credit Facility to a leading provider of team uniforms, athletic apparel, outerwear and schoolinspired products. Proceeds of the facilities were used to finance the acquisition of the company by a nationally recognized private equity sponsor, refinance debt and provide ongoing working capital.
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Represented Administrative Agents, Collateral Agents, Sole Lead Arranger and Sole Bookrunner
in connection with a $318,000,000 First Lien Credit Facility, $156,125,000 Second Lien Credit Facility and $34,800,000 unsecured Holdco Loan Facility to a leading national designer and marketer of branded products targeting consumers with active, outdoor lifestyles. Proceeds of the facilities were used to finance the acquisition of the company by a nationally recognized private equity sponsor, refinance debt and provide ongoing working capital.
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Represented Administrative Agents, Collateral Agents, Joint Bookrunner and Joint Lead Arranger
in connection with a $360,000,000 First Lien Credit Facility and $135,000,000 Second Lien Credit Facility to a leading provider of credit card transaction processing services. Proceeds of the facilities were used to finance the acquisition of the company by a nationally recognized private equity sponsor, as well as to provide ongoing working capital.
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Represented Administrative Agent and Sole Lead Arranger in connection with Senior Secured
Credit Facilities to the nation’s leading full-service event rental company. The credit facilities consisted of a $128,000,000 Term Loan, a $15,000,000 Revolving Loan and a $45,000,000 Acquisition Loan. Proceeds of the facilities were used at closing to refinance debt and finance the acquisition of the company by a nationally-recognized private equity sponsor which has served and will continue to serve as a platform for the company’s consolidation strategy in the market going forward. Other debt in the capital structure included up to $75,000,000 of unsecured mezzanine debt provided by an affiliate of a nationally recognized hedge fund.
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Represented Administrative Agent, Sole Bookrunner and Co-Arranger in connection with loans to a public
integrated energy company. The credit facility consisted of a $1,000,000,000 committed acquisition line of credit. Proceeds of the credit will be used to finance the acquisition of another multi-state electric and gas utility.
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Represented Purchaser in connection with a $90,000,000 Consumer Loan Sub-Participation Program structured as true sales of sub-participations
in participations in consumer loans. Returns under the sub-participation program were secured by pledges of certain promissory notes held by the sponsor in the underlying consumer loan program and by the equity and assets of a special purpose vehicle owned by such sponsor, and were guaranteed by such sponsor, such special purpose vehicle and numerous other affiliated entities of such sponsor.
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Represented Seller in connection with a $150,000,000 Commercial Loan Participation Program
structured as true sales of participations in secured commercial loans.
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