Practice Capabilities

Our Commercial Finance Practice Group represents financial institutions in debt financing transactions of varying sizes and types. These transactions include the following:

• Workouts, restructurings and debtor-in-possession financings
• Senior secured facilities
• Asset-based and cash flow lines of credit
• Private placements
• Convertible debt
• Second-lien facilities
• Subordinated debt and mezzanine facilities
• Leveraged acquisitions (including issuances of warrants and other equity participations)
• Letter of credit facilities
• Cross-border and multicurrency loans
• Purchase order financings
• Life insurance premium financing
• Private Investment in Public Equity (PIPE) transactions
• Real estate financing (including leveraged lease and sale/leaseback transactions)

We are typically involved from the structuring of proposals through the negotiation, documentation and administration of credit facilities and the issuance of debt securities. Our lawyers have experience representing the agent and syndicate members in syndicated credits.

We have additional experience in aircraft and equipment leasing, asset-based warehouse and repurchase transactions, factoring and other off-balance-sheet financings. We have also assisted our clients in the purchase and sale of particular loans and loan portfolios.

Service Approach

Our practical problem-solving skills and market experience assist us in resolving complex legal issues to meet the needs of our clients. We approach every matter with a team of experienced attorneys who know the market. Our experience enables us to provide our clients with efficient service with the added value of our partners’ attention. With national and international experience, we are able to get the deals done.

Our Commercial Finance and our Bankruptcy and Restructuring Groups work closely together when handling loan and debt securities workouts, restructurings, debtor-in-possession financings, Chapter 11 reorganizations and related insolvency matters. The combined experience of these groups enables us to assist in maximizing recovery in problem credit situations. We also team up with all our colleagues at Loeb & Loeb who are experienced in litigation, corporate, private equity, tax, real estate, employee benefits, intellectual property, environmental, telecommunications, entertainment, securities and insurance practice support to assist in structuring, closing and workout of transactions for our clients.

Specific examples of our capabilities include the following:

• Representing agents and lenders in connection with the establishment and management of senior secured term loan and revolving credit facilities ranging in size from $2 million to $2.5 billion.
• Representing lenders in connection with second-lien term loan and revolving credit facilities.
• Representing equity sponsors and subordinated lenders (including SBIC lenders) in connection with equity contributions and loans made to companies to facilitate leveraged buyouts and to fulfill additional working capital requirements. Equity investments have taken the form of warrants and common and preferred stock.
• Representing institutional clients in many aspects of real estate matters, including origination and restructuring of complex multiproperty and single-property acquisitions; construction, long-term and industrial revenue financings, leasing of commercial and retail properties.
• Representing agents and lenders in connection with debtor-in-possession revolving credit, accounts receivable purchase and factoring and term loan facilities to entities involved in bankruptcy proceedings, as well as exit financings required to consummate plans of reorganization.

Clients and Industries

We represent lenders, borrowers, equity investors and other transaction participants across a wide range of industries, including media, entertainment, telecommunications, health care, manufacturing, retail, service industries, apparel and transportation.

Our clients include the following organizations:

Access Capital	Laurus Family of Funds
AEGON	Lincoln Delaware Investments
AIG and its affiliates	Massachusetts Mutual Life Insurance Company
Allianz	Merrill Lynch Commercial Finance Corp.
Allstate Insurance Company	Metropolitan Insurance Company
Bank of America Merrill Lynch	Modern Bank
Barclays Capital	Nationwide Insurance Company
Capital One	New York Life Insurance Company
CapitalSource	NORD/LB
City National Bank	The Northwestern Mutual Life Insurance Company
Commerce Bank	Ohio National Life Insurance Company
CUNA Mutual	Pacific Life Insurance Company
DB Zwirn & Co.	Plainfield Asset Management
Deutsche Bank	The Prudential Insurance Company of America
Great West Life & Annuity Company	Southern Farm Bureau
Fortress Credit Corp.	TCW/Crescent Mezzanine
Hartford Financial Services	TIAA-CREF
HSBC Bank	UBS
ING Investment Management	Unum Group
Israel Discount Bank of New York	Valens Family of Funds
John Hancock Life Insurance Company	VSS Mezzanine Partners
Key Bank	Webster Business Credit Corp.
Knights of Columbus	Wells Fargo Bank
LaSalle Bank

Leadership in Law

We are able to provide our clients with smart, practical solutions because we keep up to date on the market. We are actively involved in the Association of Commercial Finance Attorneys, the Commercial Finance Association, the American College of Investment Counsel, the Turnaround Management Association and the Association for Corporate Growth.

In addition, PrivateRaise.com’s “PIPEs League Tables for 2010” ranked Loeb & Loeb #5 in the number of deals for which we provided PIPE issuers’ counsel. Our attorneys advised on 19 deals totaling $431 million in 2010. These rankings were published in the January 2011 edition of The PIPEs Report - News, Information and Analysis of Private Investments in Public Equity by DealFlow Media.