Credit Facility and Term Loan
Represented one of the nation's largest cheese manufacturers in amending and extending its senior secured asset-based credit facilities into a $114.5 million revolving credit facility and a $5.5 million term loan. The proceeds are to be used for general corporate purposes.
Secured Term Loan
Represented a major financial institution in a term loan to a New York art gallery. The loan was secured by all the gallery's assets, as well as artworks from the gallery owner's personal collection.
$16 Million Revolving Credit Facility
Represented a private bank in a $16 million revolving credit facility secured by thirteen works of art.
Securities Company – Term Loan and Revolving Credit Facility
Represented a Texas-based securities company in acquiring a term loan and revolving credit facility.
$625 Million Secured Term Loan Facility
Represented a leading regional sports network, as borrower, in amending and restating its senior secured term loan facility into a $625 million term loan facility. The proceeds were used for working capital purposes
Term Loan and Revolving Credit Facilities
Represented the owner and operator of a major league baseball franchise in amending and extending its existing $250 million syndicated senior secured credit facilities, consisting of a $200 million term loan facility and a $50 million revolving credit facility.
Investment Advisory/Property Management Co – Secured Line of Credit
Represented a real estate investment advisory and property management company in a multi-million dollar secured line of credit provided by a bank syndicate.
Private Client – $300 Million Senior Secured Credit Facility
Represented client in a $300 million senior secured credit facility, consisting of a $35 million term loan, $65 million term loan, and a $200 million revolving credit facility with a letter of credit and swingline sub-facilities. Proceeds were used to refinance existing debt and for working capital purposes, including financing-permitted acquisitions.
Syndicated Loan Facility
Represented a major financial institution, as administrative agent and lender, in providing a $51 million senior secured credit facility - consisting of a term loan facility and a revolving facility with a sublimit for letters of credit - to IntegraMed America, Inc. (a Delaware corporation that provides services and products to medical practices specializing in infertility and vein disorders). We negotiated limited security agreements with a large number of medical practices to use certain accounts receivable payable to the practices to secure the loan.
$50 Million Credit Facility Secured by Artworks
Represented a commercial bank as a participant in a $50 million credit facility secured by artworks.
$50 Million Credit Facility Secured by Artworks and Real Estate
Represented a commercial bank as a participant in a $50 million credit facility secured by artworks and real estate.
$80 Million Asset-Based Credit Facility
Represented a commercial bank, as administrative agent, issuing bank and lender, in amending and restating an existing syndicated, senior secured asset-based credit facility to a company engaged in the apparel business, into an $80 million asset-based credit facility. The proceeds will be used for working capital purposes.
$14 Million Term Loan
Represented a commercial bank in a $14 million term loan to a private wealth client secured by life insurance policy collateral.
$100 Million Secured Credit Facility Financing
Represented an alternative lender in a $100 million secured facility to a newly formed provider of personal and small business loans.
Yankee Global Enterprises – Refinancing
Represented Yankee Global Enterprises in a refinancing of its senior secured credit facility with a bank syndicate.
Regional Sports Network – $24 Million Equipment Lease Financing
Represented a leading regional sports network in a $24 million equipment lease financing facility provided by Banc of America Leasing & Capital and in a subsequent amendment to the facility.
$20 Million Credit Facility
Represented a major commercial bank, as sole lender, in a $20 million secured line of credit to a trust beneficially owned by a high-net-worth individual, and a related company. The facility is secured by marketable securities and restricted stock.
MetLife Stadium – $650 Million Bond Placement
Represented a special purpose entity affiliate of the National Football League's New York Jets and the New York Giants, in a complex public financing for MetLife Stadium that involved the New Jersey Economic Development Authority and local government.
New York Yankees – $1.5 Billion Stadium Financing
Represented the New York Yankees in the issuance of $1.5 billion in municipal tax-free and taxable bonds by the New York City Industrial Development Agency, which financed the lease and construction of the new Yankee Stadium. We drafted and negotiated the lease agreement for the new stadium, as well as ancillary real estate agreements pertaining to parking lots and garages; construction, demolition and insurance, and public transportation. We were also integrally involved in navigating the Yankees through the lengthy federal, state and local governmental permit and approval process.
EMMES Group of Companies – Venture Capital Financing
Represented the EMMES Group of Companies in the preparation of a convertible note purchase agreement, offering documents and an amended and restated operating agreement in connection with a capital raise.
Regional Sports Network – High-Yield Note Offering Amendment
Represented a regional sports network in an amendment to an indenture with a U.S. bank concerning the issuance of $250 million in senior subordinated notes.
$150 Million Senior Secured Credit Facility
Represented a U.S. commercial bank, as a syndicate lender, in a $150 million senior secured revolving credit facility to an NHL franchise. The proceeds are to be used for legal purposes, consistent with the NHL Constitution.
D.C. United – Audi Field Financing and Naming Rights
Represented Major League Soccer’s D.C. United in the construction financing and naming rights transactions for the club’s new state-of-the-art soccer-specific stadium in Southwest D.C., Audi Field.
Haskell Jewels – Factoring Facility
Represented Haskell Jewels and its subsidiaries in a factoring facility with Rosenthal and Rosenthal, Inc. Haskell Jewels is a leading designer, marketer and distributor of costume jewelry.
Regional Sports Network – Financing Facility Amendment
Represented a regional sports network in amending its $24 million equipment lease financing facility to include an affiliate as a lessee.
Citibank – $600 Million Financing to Durst Affiliates
Represented Citibank, as agent, in a $600 million term loan to certain affiliates of the Durst Organization secured by a blanket mortgage on six office buildings located in Manhattan. The term loan refinanced approximately $300 million of existing mortgage debt on three of the properties (including approximately $120 million outstanding to Citibank). The bank group also financed a $400 million revolving credit facility to the Durst Organization. The revolving credit facility is secured by pledges of economic and equity interests in the six mortgage borrowers and in two additional Durst affiliates, which affiliates own other office properties in Manhattan.
Regional Sports Network – $660 Million Financing
Represented a leading regional sports network in amending and restating its senior secured credit facility into a $600 million term loan facility and a $60 million delay draw facility. The proceeds will be used to refinance existing indebtedness, redeem existing senior subordinated notes, and for working capital purposes.
MLB Franchise – $425 Million Refinancing
Represented a Major League Baseball franchise, as borrower, in connection with an amended $425 million senior secured revolving credit facility led by a major commercial bank.
Regional Sports Network – $200 Million Note Refinance
Represented a leading regional sports network in the redemption of senior subordinated notes in the principal amount of $250 million and in the issuance of new senior subordinated notes in the principal amount of $200 million.
Regional Sports Network – Corporate Restructuring
Represented a leading regional sports network in a restructuring of its ownership structure through the formation of a new Delaware limited liability company.
U.S. Commercial Bank – $50 Million Senior Secured Revolving Line of Credit
Represented a U.S. commercial bank, as a sole lender, in a $50 million senior secured revolving credit facility to owners of an MLB franchise. The proceeds are to be used for working capital purposes.
Kaman Corporation – $700 Million Commercial Financing
Represented Kaman Corporation, a NYSE-listed U.S. defense contractor, in a $700 million revolving and term loan commercial financing transaction.
Baseball Franchise – Term Loan Facility
Represented a major league baseball franchise in a $4 million unsecured term loan facility provided by a national bank. The proceeds will be used to pay various fees and expenses related to the facility and to finance certain projects.
Syndicated Lender – $1.4 Billion NHL Credit Facility
Represented a national bank, as syndicate lender, in the NHL league-wide credit facilities consisting of a $990 million senior secured revolving credit facility and a $410 million delayed draw secured term loan facility.
U.S. Commercial Bank – Hylan Credit Facility
Represented a U.S. commercial bank, as lender, in a secured credit facility consisting of a term loan and a revolving loan to Hylan, a fiber optic data communications contractor, to finance a recapitalization resulting in the sale of 50% of the company to a private equity firm. The loans are secured by a first lien on all present and future assets of the borrower.
Private Lender – Lending Documentation
Represented a finance company in the development of financing forms and in advice on related legal issues.
Private Lender – Funding Agreements
Represented a financial services company providing loans and financial accommodations to medium-sized and small businesses, in the development of financing forms, including loan participation agreements and receivable purchase agreements. In addition, we are consulting on the development of an off-shore lending facility suitable for non-resident, non-US investors.
Strategic Check – Non-Recourse Financings
Represented Strategic Check regarding form and substance of non-recourse financings for athletes based on assignments of substantial compensation revenues.
Secured Term Loan
Represented the holding company of a minor league base baseball team in a multi-million dollar secured term loan.
Legends Hospitality – Senior Secured Credit Facility
Represented Legends Hospitality in a $225 million senior secured credit facility, consisting of a $40 million term loan, a $35 million term, and a $150 million revolving credit facility. The proceeds were used to refinance existing debt and will be used for the construction and build-out of the observation deck at the new World Trade Center in New York.
Major League Baseball Franchise – Senior Secured Credit Facility
Represented a major league baseball franchise in a $250 million senior secured credit facility consisting of a $200 million league term loan facility and a $50 million revolving credit facility. The proceeds were used to make a dividend payment to parent to repay existing facility and to pay fees and expenses.
Yankee Global Enterprises – Senior Credit Facility
Represented Yankee Global Enterprises in the refinancing of its senior credit facility consisting of a term loan and a revolving line of credit. Yankee Global Enterprises is a holding company that invests in media and sports-related businesses, including the New York Yankees.
Regional Sports Network – $630 Million Credit Facility
Represented a leading regional sports network and franchise in the negotiation and closing of $630 million senior secured credit facility.
Three Ocean Partners – Formation
Represented Three Ocean Partners in its formation and organization, equity capital raise and registration as a broker dealer as well as across a spectrum of portfolio investments.
Highbridge Capital Management – Los Angeles Dodgers Financing
Advised Highbridge Capital Management regarding the rules and regulations applicable to Highbridge's $60 million interim bankruptcy financing to the Los Angeles Dodgers. We also advised Highbridge on its proposed long-term $150 million credit facility to the Los Angeles Dodgers.
Luxury Apparel & Home Furnishing Company – Preferred Stock
Represented a start-up limited edition luxury apparel and home furnishing collections company in a seed capital preferred stock offering and corporate structuring matters, including the formation of an advisory board and the adoption of an equity incentive plan.
Credit Facility Restructuring
Represented a U.S. commercial bank in restructuring a $20 million credit facility for a prominent restaurant chain.
Private Banking Transaction
Represented a major bank in a private banking transaction in which the bank made two $25 million loans to an individual and certain entities he controls. The first was secured by a pledge of membership interest in three entities that own properties in Brooklyn. The second was secured by mortgages on certain real property
Representation of a U.S. commercial bank in a $13 million term loan and advised line facility with advances supported by guaranties of foreign affiliates and foreign receivables generated by Asian subsidiaries.
Lehman Brothers – Receivables Financing
Representation of Lehman Commercial Paper, as agent, in an amended and restated $140 million multiple draw term loan receivables funding facility for a special purpose vehicle of a leading U.S. publishing company and successful payout and termination.