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.
Represented a Texas-based securities company in acquiring a term loan and revolving credit facility.
Analyze strategic credit facilities and consolidation for client, a family-run group of companies focused on sports, media and real estate.
Represented a commercial bank as a participant in a $50 million credit facility secured by artworks.
Represented a commercial bank as a participant in a $50 million credit facility secured by artworks and real estate.
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.
Represented a commercial bank in a $14 million term loan to a private wealth client secured by life insurance policy collateral.
Represented an alternative lender as administrative agent and as a lender in over $1 billion of secured credit facilities to providers of consumer and small business loans.
Represented a leading regional sports network in a $24 million equipment lease financing facility provided by a major commercial bank.
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.
Represented a regional sports network in the issuance of $250 million in senior subordinated notes.
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.
Represented Legends Hospitality, the sports and entertainment joint venture controlled by the New York Yankees and Dallas Cowboys, in a strategic partnership and investment in the company by New Mountain Capital.
Represented a regional sports network in amending its $24 million equipment lease financing facility to include an affiliate as a lessee.
Represented major commercial bank, as administration and as a lender, in a $50 million senior syndicated mortgage loan warehouse facility to a company engaged in the mortgage loan business.
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.
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.
Represented a leading regional sports network in a restructuring of its ownership structure through the formation of a new Delaware limited liability company.
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.
Representation of Cantor Fitzgerald Securities as (i) successor administrative agent and collateral agent under a $660 million first lien facility, (ii) the administrative agent and collateral agent under a $150 million DIP facility in connection with the chapter 11 case of Blackhawk Mining, and (iii) the administrative agent and collateral agent under an $85 million exit facility.
Represent Fotografiska, a Swedish photography destination, in connection with establishing its NYC flagship location at 281 Park Avenue South, New York.
Represented Yankee Global Enterprises in connection with the issuance by the New York City Industrial Agency of approximately $927 million of refunding bonds for the benefit of the Yankees.
Represented Cantor Fitzgerald Securities as the administrative agent and collateral agent under an $85 million exit facility following the successful Blackhawk Mining, LLC, et al. (Bankr. D. Del.), chapter 11 cases, which involved over 100 properties, encompassing active mining complexes in West Virginia and Kentucky and substantial metallurgical and thermal coal reserves in West Virginia, Kentucky, Indiana, Illinois and Ohio. The finance component included establishing a collateral trust arrangement by transferring all of the collateral, loans and obligations to a collateral trust and amending and restating the existing loan documents. The real estate component included assigning existing mortgages encumbering the properties, amending and restating the existing mortgages and memoranda of intercreditor agreements to secure Cantor’s interest as collateral trustee, preparing as-extracted collateral filings, reviewing specific requirements related to leasehold properties, and title review.The real estate component included terminating existing mortgages encumbering the properties, preparing new mortgages to secure Cantor’s interest, preparing as-extracted collateral filings, reviewing specific requirements related to leasehold properties and title review. Herrick previously represented Cantor Fitzgerald as the administrative agent and the collateral agent under Blackhawk’s (i) pre-petition $660 million first lien term loan facility and (ii) $150 million DIP term loan facility in connection with the pre-packaged restructuring of approximately $1.1 billion of debt, which involved assigning the previous administrative agent’s interest in all of Blackhawk’s properties in West Virginia, Kentucky, Indiana, Illinois and Ohio to Cantor Fitzgerald, as administrative agent.
Represented Wilkinson Global Capital Partners LLC, a leading asset management and investment advisory firm, in its purchase of Wilkinson Global Asset Management, a New York-based private wealth investment manager, pursuant to a call option. The sale was made in accordance with a multi-year financing agreement with the seller, Fiera Capital.
Represented long-standing client Legends Hospitality in its entry into a share purchase agreement with the private equity firm Sixth Street. Under the share purchase agreement, Sixth Street acquired a controlling interest in Legends Hospitality. This investment will support Legends continued growth as a premium experiences company that specializes in delivering holistic solutions for sports, entertainment and attractions clients.
In connection with the acquisition, Legends Hospitality (i) issued senior secured long-term notes and (ii) entered into a revolving credit facility and PIK facility. The net proceeds were used to redeem certain outstanding equity securities of Legends Hospitality and for working capital and general corporate purposes.
In order to preserve Legends Hospitality’s liquidity and support its continued investment in accretive, long-term capital projects, affiliates of Sixth Street and other third parties will provide Legends Hospitality with access to funding provided by an investment vehicle. The funding will be used for capital expenditures, pre-opening costs and other disbursements contemplated by contracts entered into by Legends Hospitality.
Represented Legends Hospitality Holding Company, LLC (“Legends Hospitality”) in majority investment by private equity firm Sixth Street in the global premium experiences company, co-founded by the New York Yankees and the Dallas Cowboys. As reported by Legends, “[t]he new investment from Sixth Street will support the long-term growth of the Company’s global client relationships and further enhancements to its innovative 360-degree platform of premium experience offerings for the most iconic global brands in sports, entertainment, and attractions.”
Herrick has represented Legends since its inception in 2008, when our Sports Law Group worked with the Cowboys and the Yankees, along with two private equity firms, to form this ground-breaking joint venture. Initially, Legends focused on delivering enhanced concessions and premium experiences. Since its formation, Legends’ range of services has grown to include six worldwide divisions and it has partnered with many iconic international sports, entertainment and attractions brands.
Represented Lido Advisors ("Lido"), a nationally recognized wealth advisory firm, in its entrance into a key strategic partnership with Charlesbank Capital Partners ("Charlesbank"), a middle market private investment firm. Through the partnership, Charlesbank will become a significant investor in Lido alongside the founders and management team.
“We couldn’t be more excited to partner with Charlesbank at this pivotal time for Lido and, more importantly, for our clients,” said Jason Ozur, Lido’s Chief Executive Officer. “With Charlesbank at our side, our unparalleled investment and wealth planning solutions will continue to expand, both in breadth and scope, all to the benefit of our clients.”
Founded in 1999 and headquartered in Los Angeles, Lido is a full-service, independent Registered Investment Advisor (“RIA”) that brings an innovative family office investment approach to grow and safeguard its clients’ wealth and legacies. Lido’s clients include high-net-worth and ultra-high-net-worth individuals, family offices, corporate executives, non-profit organizations and foundations.
Represented Churchwick Partners in a multi-million dollar preferred equity raise from a specialty finance group to fund the acquisition of a portfolio of extended stay hotels.
Represented a major commercial bank, as lead agent and lender, in a $538 million asset-based lending facility.
Represented a major commercial bank, as administrative agent and as a lender, in an $85 million syndicated, senior secured revolving asset-backed credit facility to a company engaged in the office and steel case equipment dealer business.
Represented a major commercial bank, as administrative agent and as a lender, in an approximately $25 million syndicated, secured asset-backed term loan credit facility to a company engaged in the business of bottling and distributing branded soft drinks and which is a division of one of the largest private bottlers in the United States.
Represented financial services corporation, as administrative agent and lender, in a $250 million syndicated unsecured revolving credit facility to a provider of human resources, payroll and benefits outsources, as borrower, and several of its subsidiaries as guarantor.
Represented global financial services firm as administrative agent and collateral agent in a $650 million senior secured credit facility to a leading coal producer and its affiliates.
Represented a major financial institution, as second lien administrative agent and as a lender, in a $50 million second lien receivables revolving facility to a special purpose vehicle of leading U.S. educational publisher.
Represented a major commercial bank, as administrative agent and as a lender, in a $150 million unsecured, multi-currency, syndicated revolving credit facility to companies engaged in payroll processing.
Represented major commercial bank, as administrative agent and as a lender, in a $100 million syndicated, unsecured revolving credit facility to a bank holding company.
Represented a major commercial bank, as administrative agent and as a lender, in a $300 million amended and restated secured syndicated, multi-currency revolving credit facility to a trust established under the laws of the Island of Jersey and a high net worth individual. The credit facility was secured by museum quality, fine artworks.
Represented major financial institution, as a lender, in a $275 million syndicated secured revolving credit facility to the owner of a National Basketball Association franchise.
Represented major financial institution, as a lender, in a $250 million syndicated secured revolving credit facility to the owner of a National Hockey League franchise.
Represented a major commercial bank, as administrative agent and as a lender, in amending a $225 million credit facility (consisting of term loans and revolving loans) provided to the owner of a Major League Baseball franchise.
Represented a major commercial bank, as administrative agent and as a lender, in a $45 million secured revolving credit facility to the owner of a National Football League franchise.
Represented a major commercial bank, as a syndicate lender, in the Major League Baseball league-wide credit facilities.
Represented a private company lender, as sole lender, in senior secured credit facilities totaling over $500 million secured by consumer loans, commercial loans, merchants cash advance receivables, participation interests, and other types of loans and receivables.
Represented various major commercial banks in subscription/capital call lines of credit and management fee lines of credit totaling over $1.5 billion, secured by capital call rights and all assets.
Represented a major commercial bank, as sole lender, in an $80 million mezzanine revolving credit facility to entities owned indirectly by a prominent public figure, which entities indirectly owned real properties.
Represented a major private bank in a $115 million secured lien of credit to a Bahamian company guaranteed by a Bahamian trust and a high-net-worth Saudi Arabian individual.
Represented a major commercial bank, as sole lender, in a $30.0 million secured revolving credit, term loan and letter of credit facility to a major developer of privatized military housing for the U.S. Army and Air Force.
Represented a financial institution in a $500.0 million repurchase facility provided to companies engaged in the mortgage loan business, which facility was secured by mortgage loans and mortgage-backed securities (investment grade and non-investment grade).
Represented a financial institution in a $60.0 million warehouse repurchase facility provided to a company engaged in the auto receivables business, which facility was secured by auto receivables.
Represented a financial institution in a $425.0 million mortgage loan warehouse repurchase facility provided to a company engaged in the mortgage loan business, which facility was secured by mortgage loans and manufactured housing loans.
