Sophisticated legal advice applied practically
The firm’s finance lawyers understand that our clients are focused on practical results and risk mitigation within the context of the deals we work on. We are able to provide sophisticated legal and practical advice and service through the entire deal process from initial structuring, through closing documentation, the negotiation and documentation of modifications and, if necessary, restructuring, workout and/or creditor bankruptcy representation.
Our transactional finance lawyers have a broad depth of experience representing financial institutions and other creditors across a wide range of debt financing vehicles throughout the deal cycle, including the following:
- middle market commercial and industrial financings;
- asset-based lending;
- agricultural lending;
- syndicated credit facilities;
- real estate finance transactions;
- construction and project financings;
- mezzanine financings;
- structured financings;
- bond transactions (public, private and direct purchase by financial institutions);
- small business lending; and
- lease financings.
Nexsen Pruet’s lending clients include national banking associations, specialized lenders, insurance companies, governmental and other regulated lenders, mezzanine finance funds and conduit lenders.
Because of our wide-ranging experience and our ability to allocate our resources and put together deal teams in a thoughtful and efficient manner, we are able to provide top-level legal service with respect to both the most sophisticated transactions and the most straight-forward deals while, in each case, remaining conscious of our clients’ need to control costs and the need to, in every instance, produce outstanding results.
Our finance lawyers are routinely able to, as necessary, take advantage of the firm's abilities in fields related to various transactions. As a result, we frequently team with our Public Finance, Creditor’s Rights, Commercial and Construction Litigation, Environmental and/or Economic Development groups to provide focused guidance on specific deal issues.
Whether involving hundreds of thousands or hundreds of millions of dollars, we are able to provide tailored and focused counsel on transactions across a wide variety of financing structures. Representative deals for the banking and finance group include the following:
- $15,000,000 line of credit secured, in part, by various parcels of real estate owned by the Borrower and its affiliates.
- Purchase of taxable bonds in the amount of $25,000,000, convertible to tax-exempt bonds, secured by real estate interests.
- $30,000,000 participated, secured credit facility to an international shipping concern to finance a ship maintenance facility located in Louisiana.
- Secured asset-based revolving credit facility and term loan facilities in the amount of $20,000,000, the proceeds of which, in part, are being used to construct various facilities.
- Syndicated transaction involving multiple credit facilities, including a revolving credit facility and a term credit facility, in the aggregate amount of $39,400,000 and interest rate swaps to multiple co-borrowers, the proceeds of which were used to acquire all of the assets of another company. The credit facilities are secured by all real and personal property (located in multiple jurisdictions) of the co-borrowers.
- Purchase of $45,000,000 tax-exempt bonds, secured by incremental tax revenues and assessments.
- Refinance of existing debt secured by 23 convenience store facilities in South Carolina and North Carolina and establishment of working capital loan facility.
- Term loan facility and revolving credit facility made for the purposes of refinancing existing agricultural land loans, constructing a grain elevator, and establishing a credit facility to fund row crop operations, all secured by 10,222 acres of agricultural property in five counties in South Carolina and North Carolina.
- Construction loan to finance the construction of a 57,425 square foot shopping center and 5 outpads in Myrtle Beach, South Carolina.
- Acquisition long-term debt financing for a JV subsidiary of a REIT with respect to a City Center Project located in New York and consisting of multiple condominium units within a condo regime originally established by a city for the purpose of redeveloping the site and in which the city continues to own parking and other units. Involved $90MM of upfront acquisition financing, with $9MM of deferred term loan proceeds available upon satisfaction of certain re-leasing provisions.
- Construction financing for large scale outlet mall to be located in Maryland for national outlet center owner/developer headquartered in North Carolina. Involved non-recourse guaranties from sponsor and large developer JV partner and required SNDA and/or estoppel documentation from 30+ retailers.
- Establishment of $450MM in revolving credit facilities. Consisted of a fully-syndicated revolving credit agreement and a bilateral liquidity credit agreement executed and delivered simultaneously.
- Takeout refinancing related to properties located in NY, NC, SC and FL and consisting of three (3) separate loan facilities, including an asset-based revolving line of credit secured by inventory and a second priority lien on real property, a single property-secured term loan and a multi-property secured term loan. Involved 5 affiliated borrower entities and 2 additional guarantors, debt assignments in FL and NY, review of title materials for all properties and concurrent payoff of 8 separate pre-existing loans.
- Purchase of $75,000,000 tax-exempt bonds to construct a cellulosic feedstock biorefinery.
- Purchase of $2,800,000 bonds, which was completed contemporaneously with a $6,835,000 loan from the USDA, for the construction of a new Junior High School in Utah.
- $135,000,000 revolving line of credit facility, secured by margined liquid collateral
- $150 million syndicated takeout financing related to workout and restructuring of Indebtedness related to a retail shopping center located on Long Island, New York.
- 3 separate loans totaling $110 million secured by real property and equity pledges in connection with a acquisition financing for a mall located in Redmond, Washington, together with pre-negotiated syndicated takeout commitment and related loan documents.
- 2-step term/construction financing totaling $65 million related to existing student housing project and planned construction of phase II project located on the same parcel of real property.
- $9 million cash flow-based term financing to franchise business borrower to refinance equity indebtedness.