In Brief

In its Banking and Finance practice, Kramer Levin Naftalis & Frankel LLP represents commercial banks, corporate borrowers and lenders, hedge funds, insurance companies, and other institutional clients in a broad range of commercial financing transactions. Our practice includes leveraged acquisition financings, leveraged buy-outs, investment grade financings, competitive bid option facilities, multi-currency facilities, cross-border financings, bank and bond financings, asset based financings, working capital financings, second lien and subordinated financings, exit financings, recapitalizations, work-outs, debtor-in-possession financings, distressed debt purchases and sales, equipment financings and leasing, leveraged leasing, mortgage warehouse lending, municipal bond financings, insurance company note agreements, project financings, secured and unsecured financings, letters of credit, and participations and assignments.

Representative Transactions

Our Banking and Finance group has experience in representing all parties in financing transactions. Since our clients include lenders and borrowers, as well as third parties, we understand their individual needs and work to achieve transactions that protect our clients while preserving the important relationship between lender and borrower. We have extensive experience in the restructuring and insolvency area and have the ready capability to counsel our clients to avoid problems that often plague other lenders and to take advantage of the latest legal and financial innovations.

Recent transactions in which our attorneys have been involved include:

• Representing a major multinational bank in structuring and documenting an aggregate of $1.5 billion of credit facilities to a major industrial company
• Representing the agent bank in structuring and documenting $300 million of secured, cross-border bank and bond facilities to a container manufacturer
• Representing the agent bank in structuring and documenting a $600 million refinancing of the credit facilities of a major public chemical manufacturer
• Representing the agent bank in structuring and documenting a $275 million working capital facility for a steel manufacturer
• Representing the agent bank in structuring and documenting a $70 million debtor-in-possession facility and $200 million in exit financing for a textile manufacturer
• Representing the agent bank in structuring and documenting a $450 million debtor in possession facility for a steel manufacturer
• Representing a major Mexican conglomerate in connection with the restructuring of more than $1 billion of indebtedness of its steel manufacturing subsidiaries
• Representing a major private equity sponsor in structuring and documenting a $3 billion loan facility in connection with the acquisition of a financial services enterprise
• Representing a major manufacturer of decorative surfaces in connection with an exit facility involving the repayment and restructuring of $300 million of indebtedness
• Representing the agent bank in a $250 million financing of the recapitalization of a major privately held entertainment company
• Representing the agent bank in a $100 million financing guaranteed by the United States under the Emergency Steel Loan Guarantee Act
• Representing a major multinational bank in connection with structuring and documenting a $500 million loan to an estate secured by a portfolio of publicly traded securities and various limited liability company interests
• Representing the agent bank in connection with structuring and documenting a $7 million syndicated debtor-in-possession credit facility to a clothing retailer
• Representing the agent bank in connection with restructuring and documenting a $120 million syndicated credit facility and related indebtedness to an advertising company
• Representing the agent bank in connection with restructuring and documenting a $70 million syndicated credit facility to a borrower exiting from bankruptcy
• Representing a major multinational bank in connection with structuring and documenting a $807 million loan secured by a portfolio of publicly traded securities, derivatives contracts, proceeds from a sale of an entertainment concern, copyrights, and various partnership and limited liability company interests
• Representing a French lender in providing approximately $210 million in liquidity facilities to a municipality in support of its public bond issuances
• Representing a publicly traded corporate borrower in connection with obtaining $600 million in senior secured credit facilities arranged by a major U.S. money center bank
• Representing a corporate borrower in connection with borrowings under a $245 million senior secured credit facility and $25 million insurance company note facility in connection with an acquisition
• Representing the corporate trustee in an indenture providing for the issuance of $250 million in senior debt securities secured by a second priority lien on mineral rights to a publicly traded corporation
• Representing a Fortune 500 corporate borrower in connection with the issuance of $1 billion of senior and subordinated trust certificates in a series to a master trust to a commercial paper conduit in connection with a trade receivables financing facility
• Representing a corporate borrower owned by an LBO fund in connection with obtaining $34 million in acquisition credit facilities secured by collateral in the U.S., the British Virgin Islands, the Philippines and Hong Kong
• Representing a major U.S. money center bank as arranger and agent in structuring and syndicating a $1.5 billion competitive bid option credit facility to a bank holding company
  

Applied Expertise

In addition to transactional work, we often provide counseling and education to clients that includes developing forms and providing practical advice on Revised Article 9 of the Uniform Commercial Code.