Finance

• A developer and provider of mobile-personal emergency response systems and personal health management technologies in an amendment and upsize to their asset-backed credit facility with CIBC Bank. 
• A global leader in smart transportation as borrower in connection with an amendment of its US$75 million ABL credit agreement, which extended the maturity date by 5 years.
• A syndicate of asset-based financiers in respect of the ongoing financing of Peninsula Petroleum by way of a US$400 million receivables finance facility; enabling the company to continue to develop its physical supply and reselling operations globally, investing across the marine fuels value chain.
• A three bank syndicate with regards to the provision of a £100 million asset based financing facilities agreement in favor of the Thomas Plant Hire group of companies, generating general corporate and working capital for the business in the UK.
• An oil and gas wells technical products and services company in a revolving credit, term loan, equipment loan and security agreement with PNC Bank NA, as administrative agent for the lenders.
• Aurelius Investments Limited in relation to the multi-million pound ABL financing of its acquisition of McKesson UK in a corporate carve-out from US healthcare company McKesson Corporation.

Visit our Asset-based lending page (HYPERLINK THIS PAGE HERE) to learn more about our experience. 

• Avation PLC, the London-listed commercial passenger aircraft leasing company, on its discussions with noteholders, their lawyers and financial advisers to achieve a successful maturity extension on its US$350 million 6.5% senior notes by more than five years from May 2021 to October 2026.
• Edenor, the largest electricity distribution company in Argentina, on the successful exchange offer for Edenor’s 9.75% senior notes due 2022. The debt refinanced by the new bonds was allocated in accordance with social bond guidelines to refinance, in whole or in part, eligible projects designed to expand access to electricity in low-income communities, encourage the efficient use of electricity and install electronic “smart” meters to more efficiently measure electricity usage.
• KOIS, an impact investment and finance advisory firm, on a pro bono basis in relation to the first tranche of a Development Impact Bond issued by Near East Foundation, a UK charity, to raise funding for training for Syrian refugees in Jordan and Lebanon.
• NuVasive, Inc. (NASDAQ: NUVA) in multiple offerings, including a US$450 million convertible senior notes offering and credit agreement amendment and a US$400 million offering 1% convertible senior notes due 2023. 
• VF Ukraine on a consent solicitation exercise to the holders of its outstanding USD500 million notes issued by VFU Funding PLC to obtain additional flexibility to make restricted payments subject to a leverage test.
• W.P. Carey Inc. (NYSE: WPC) in multiple public debt offerings, including but not limited to a €500 million public debt offering of senior notes on the International Stock Exchange and a US$592 million public offering of aggregate principal amount of its 2% Senior Notes due 2023. 
  
  Visit our Debt Capital Markets page (HYPERLINK THIS PAGE HERE) to learn more about our experience. 

• A leading European fund of funds on 100+ primary and secondary investments into an array of European middle-market buyout funds over the last fifteen years.
• A leading investment management firm as counsel on every closed-end fund it has formed since inception in 2005, and on its open-end funds and co-investment vehicles, including:  formation and ongoing operation of a social infrastructure fund, a $1.3 billion closed-end fund in the US, a €700 million second closed-end fund in Europe, and a $2 billion closed-end fund focusing on education, healthcare, life sciences, data centers and storage real estate assets in the US and Canada. 
• A sustainable investment-focused private equity firm in its formation as a business, including in relation to employment matters, securities and corporate organizational matters, and in subsequent private equity fund formations and offerings in connection with acquisitions of renewable energy projects. 
• An investment management firm focusing on alternative assets, with approximately $8.3 billion in AUM in its fund formation matters since 2010, including the formation of five US domestic real estate funds, three growth capital funds, two debt funds, three European real estate funds, and its senior housing funds, each ranging from $750 million - $1 billion in committed capital.
• A UK pension scheme on the establishment of a USD600 million private equity customized portfolio solution structured as a Cayman Islands master feeder structure and managed by KKR, New York.
• Ping An on the establishment of a series of closed ended private equity investment funds, structured in the form of a segregated portfolio company and six segregated portfolios.

Visit our Investment Management and Funds page (HYPERLINK THIS PAGE HERE) to learn more about our experience. 

• A cloud infrastructure provider that targets individual developers and smaller businesses, in connection with the refinancing of its US$250 million syndicated credit facility. This is the fourth time we have represented the company in connection with its syndicated credit facilities since 2016 and during that time they have grown from a Series B startup with a US$600 million valuation to a public company with a US$5.6 billion market float.
• A middle-market direct lending firm in multiple deals across various sectors, including a US$215 million senior secured credit facility for a specialty grocer, a US$155 million senior secured credit facility for an air purification company and a US$162 million senior secured credit facility for a software company.
• An American technology company in connection with an amended and restated US$1.2 billion credit facility comprised of a US$700 million senior secured revolving credit facility and a US$500 million senior secured term loan facility.
• Centroid Investment Partners LC in connection with its refinancing of a Korean law governed debt facility used to acquire the TaylorMade Golf Company. The refinancing facilities, which closed in February 2022, included a New York law governed USD1.05 billion Term Loan B facility and USD300 million Asset Based Loan facility.
• DiaSorin’s USD1.8 billion acquisition of Luminex Corporation including negotiation of a certain funds English law Senior Facilities Agreement entered into by DiaSorin with a syndicate of banks providing for a term loan of USD1.1 billion and a bridge loan of USD500 million, with extension options.
• One of Europe’s leading alternative asset management firms in a US$175 million debt refinance for an end-to-end commercial biopharmaceutical company.
• Silicon Valley Bank as mandated lead arranger and syndicate of multinational banks as lenders on financing for Wise, in connection with the largest ever direct listing on the London Stock Exchange valuing the business at c. GBP9 billion.

Visit our Leveraged Finance and Debt Finance page (HYPERLINK THIS PAGE HERE) to learn more about our experience. 

• Innergex Renewable Energy Inc. (TSX: INE) on its agreement to acquire Aela Generación S.A. and Aela Energía SpA, a 332-megawatt portfolio of three newly built operating wind assets in Chile, for a purchase price of US$686 million.
• LEGO Group in its over US$1 billion investment to build a factory in Chesterfield County, approximately 20 miles south of Richmond, Virginia — and the first in the US. The factory will feature carbon-neutral designs, and will minimize the use of non-renewable resources and energy consumption with an onsite solar park generating renewable energy to match the factory's daily energy needs.
• Renewco Power, the Edinburgh-based renewable power business, in its US expansion through the acquisition of a 1.5GW pipeline of early-stage utility-scale solar projects and 500MW of battery storage projects from Virginia-based developer Beaufort Rosemary. 
• SG H2 Energy Global, LLC in the development and financing of a green hydrogen production facility to be located in Southern California. The representation includes the negotiation and signing of the recently concluded hydrogen offtake agreement with Iwatani Corporation and a public private partnership (PPP) agreement with the City of Lancaster, California. 

Visit our Projects and Project Finance page (HYPERLINK THIS PAGE HERE) to learn more about our experience.

• Aareal Bank AG as lender on the €287 million, GBP40 million and SEK507,300,000 refinancing of a European hotel portfolio for the Archer Hotel Group. The portfolio comprises 7 hotels in England, France, Ireland, the Netherlands and Sweden.
• Aareal Bank AG on providing a €360 million senior facility for the financing of an international retail property portfolio by Pradera European Retail Parks SCSp, comprising a total of 17 retail properties in Germany, France and Poland.
• Blackstone Real Estate Income Trust, Inc., a publicly registered non-traded real estate investment trust sponsored by private equity giant The Blackstone Group (NYSE: BX), in a “best efforts” continuous offering of up to US$60 billion in shares of common stock, as co-securities-counsel for the issuer.
• Fortress Investment Group LLC in connection with the acquisition of shares and management rights in a number fund vehicles and owned by Colony Capital. The acquired interests were in non-digital real estate positions with a total consideration of USD535 million subject to adjustments. Fortress acquired interests in approximately 40 positions encompassing over 100 properties in Europe and the US.
• Griffin-American Healthcare REIT III in connection with its internalization with American Healthcare Investors and concurrent merger into Griffin-American Healthcare REIT IV in a tax-free, stock-for-stock transaction that created a combined company with a gross investment value of approximately US$4.2 billion in healthcare real estate assets.
• Resource REIT, a publicly registered non-traded residential REIT in in its merger with Blackstone Real Estate Income Trust’s (BREIT), in which BREIT acquired all of Resource REIT’s outstanding common stock for US$14.75 per share in an all-cash transaction valued at for US$3.7 billion, including the assumption of debt. 

• Abengoa US Holding LLC and affiliates, the US unit of Spanish renewable energy company Abengoa SA, in its chapter 11 and chapter 15 petitions in the US Bankruptcy Court for the District of Delaware in Wilmington. Also represented US Abengoa SA with the approved sale of five ethanol plants in Indiana, Illinois and Nebraska for more than US$355 million.
• Alvarez & Marsal as joint administrators for NMC Health Plc (NMC), the largest private healthcare company in the UAE. NMC was placed into administration by the UK High Court. As lead legal adviser to A&M in the US, our US-based team successfully prosecuted a chapter 15 case in Delaware to provide ancillary relief to the administrators’ distressed asset sales and litigation investigation work.
• Atlas Financial on a debt for debt exchange using a Cayman Island Scheme of Arrangement that was then recognized in the Southern District of New York in a chapter 15 case. Our team advised the company on the debt issues, negotiating with the Indenture Trustee and the various bondholders, assisting with a Restructuring Support Agreement and all the bankruptcy case proceedings. 
• Rabobank, Standard Chartered Bank and DBS in connection with the multijurisdictional restructuring and insolvency proceedings of China Fishery Group Limited, one of the world’s largest producers of fish oil and fishmeal. DLA Piper successfully sought the appointment of a chapter 11 trustee over one of the key entities in the US bankruptcy proceedings in the Southern District of New York.
• The Joint Provisional Liquidators from Alvarez & Marsal appointed in the Cayman Islands provisional liquidation. Our team advised on various issues including commencing and prosecuting a contested Chapter 15 case in New York, assisting in negotiations with the Securities and Exchange Commissions, and providing guidance and insight on a Cayman Scheme of Arrangement and a class action settlement with numerous securities law claimants resulting in the resolution of almost all litigation issues and a recapitalized company.
• Velti plc’s US subsidiaries in connection with its chapter 11 case in Wilmington, Delaware and the section 363 sale of its US, UK and India mobile marketing businesses and certain of its US-based advertising businesses to GSO Capital Partners, the credit division of Blackstone. The 2014 M&A Advisor International Awards honored us with the ‘Restructuring Deal of the Year’ award (under $1 billion) for the chapter 11 Restructuring of Velti plc’s US subsidiaries.

Visit our Restructuring page (HYPERLINK THIS PAGE HERE) to learn more about our experience.

• In the last three years, we have priced and closed over 150 CLO transactions, valued at more than US$65 billion. 
• A leader in point-of-sale unsecured consumer loans in connection with more than 10 issuances of asset-backed notes, totalling over US$3 billion. This included the company’s first asset-backed securitization, which marked the first asset-backed securitization by a FinTech point-of-sale lender. 
• Aareal Bank AG as hedge counterparty on the negotiation and execution of derivative documentation linked to various commercial real estate financing transactions across Europe. Our specialist derivatives team worked in conjunction with colleagues on the financing side to ensure seamless execution of the hedging arrangements alongside each financing.
• An artificial intelligence-based car financing company as a first-time issuer in the issuance of two classes of notes totaling US$204.34 million, collateralized by a pool of retail automobile contracts made to obligors and secured by new and used automobiles, light duty trucks, and vans, and in the subsequent issuance of additional notes. 
• Ares Management Limited as the collateral manager and Ares European Loan Funding II Limited as originator on the issue by Ares European CLO XV DAC of €480 million of floating rate notes due 2036 and €44.8 million Subordinated Notes due 2036 backed by a portfolio of Senior Obligations, Mezzanine Obligations and High Yield Bonds.
• The Co-operative Bank P.L.C. on IBOR transition and related amendments in relation to its derivatives portfolio across approximately 40 connections. 
  
  

Visit our Structured Finance and Securitization page (HYPERLINK THIS PAGE HERE) to learn more about our experience.

• Ares Capital, Kreos Capital and Davidson Technology Growth Debt Fund, in providing USD70 million in growth debt funding to Soundcloud.
• Hercules Capital in providing GBP40 million of growth debt commitment to Carwow, a car buying comparison site, to scale its Sell Your Car division in Europe.
• Hercules Capital, a leading non-bank lender that offers debt financing to venture capital-backed companies at all stages of development in a US$200 million term loan facility to Phantom Pharmaceuticals, a late clinical-stage biopharmaceutical company.
• Phoenix Insurance Company in regards to a USD200 million financing round for Berlin based phone as a service company everphone. The financing included a borrowing base growth facility provided together with Deutsche Bank.
• Silicon Valley Bank and SVB Capital, a leading bank lender and its affiliated debt fund offering debt financing solutions to venture capital-backed companies at all stages of development, in a US$100 million term loan facility to a growth-stage health services business. 

Visit our Venture and Growth Lending page (HYPERLINK THIS PAGE HERE) to learn more about our experience.