Michael I. Zinder

Partner

New York
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, NY 10019-6099
T 212 728 8298
F 212 728 9298
mzinderwillkie.com

Michael I. Zinder is a partner in the Corporate and Financial Services Department and Co-Chair of the firm's Finance Practice Group. Michael has extensive experience representing domestic and foreign agents, arrangers and other financing parties, as well as sponsors and borrowers, in leveraged buy-outs, hostile and friendly tender offers, recapitalizations and spin-offs, workouts and restructurings, and debtor-in-possession and exit financings.

Michael also specializes in mezzanine and bridge financing, asset based financing, first lien/second lien financing, cross border financing, media and telecom financing, leisure financing, project and other structured financing, and "one stop" bank/bond financing.

Michael has been named as a recognized practitioner in the finance area by numerous publications, including Chambers USA, The Legal 500, The Legal 150, Who’s Who and Euromoney’s Expert Guides.

+ Continue Reading

Highlights

Michael I. Zinder is a partner in the Corporate and Financial Services Department and Co-Chair of the firm's Finance Practice Group. Michael has extensive experience representing domestic and foreign agents, arrangers and other financing parties, as well as sponsors and borrowers, in leveraged buy-outs, hostile and friendly tender offers, recapitalizations and spin-offs, workouts and restructurings, and debtor-in-possession and exit financings.

Selected Significant Matters

Practicing in these areas for over 20 years, Michael has led teams in successfully restructuring and documenting dozens of both large and middle-market transactions on behalf of many different Lead Arrangers, Agents, Sponsors and Borrowers including such transactions as:

  • $117.5 million in first lien secured unitranche term facilities on behalf of a Lead Arranger to finance the acquisition by a private equity sponsor of a “carve out” chemicals company with a shared collateral Intercreditor with an ABL lender
  • $420 million in first lien facilities and $190 million in second lien facilities on behalf of a Sponsor to recapitalize and finance an acquisition by Transtar Industries
  • Mezzanine and senior financings on behalf of a Lender to assist in the financing of the $1 billion Big River Steel project and the related Mid-River Terminal facility
  • $1.1 billion in first lien and second lien facilities on behalf of a Sponsor to finance the recapitalization and portfolio consolidation of several software processing companies
  • $330 million in secured credit facilities on behalf of a Sponsor to finance the acquisition of Eyemart Express
  • A priming secured credit facility on behalf of a Lender Group for restaurant chain Buffets
  • $59 million in secured credit facilities on behalf of a Sponsor to finance the acquisition of Icynene
  • $210 million in secured term, delayed draw and revolving credit facilities on behalf of Sponsors Charterhouse and Elior in the cross-border acquisition of TrustHouse Services
  • $268 million in secured First Lien/Second Lien and revolving credit facilities on behalf of Sponsor Friedman, Fleischer & Lowe in a dividend recapitalization transaction involving C.H.I. Overhead Doors
  • Tack-on senior secured credit facilities and mezzanine financing facilities on behalf of Sponsor Calvert Street Partners in connection with the acquisitions of Xxtreme Pipe Services and James Clark Inspections by IOS
  • $1.85 billion in secured refinancing cross-border mortgage and mezzanine loans by client Goldman Sachs Mortgage Company to Kyo-ya Hotels
  • Various DIP and exit financing facilities on behalf of the requisite lenders to Buffets Restaurants
  • $102.5 million in secured financing facilities on behalf of Sponsor Warburg Pincus for the acquisition of the Mutual Fund Store
  • $270 million in secured term and revolving credit facilities on behalf of Sponsor Warburg Pincus for the acquisition of Total Safety
  • $570 million in secured First Lien/Second Lien credit facilities on behalf of Sponsor HOV for the combination of HOV Services and Sourcecorp
  • $1.075 billion in secured exit financing facilities on behalf of Bank of America, as Agent, to FairPoint Communications
  • Various financing facilities on behalf of Credit Suisse, as Agent, in connection with the workout, restructuring, bankruptcy, credit bid and exit of Champion Enterprises
  • Various DIP and exit financing facilities on behalf of Brookfield Asset Management in connection with its $6.5 billion investment in mall operator GGP
  • Various energy financing facilities on behalf of Energy Recapitalization and Restructuring fund with respect to its investment in Sabco Oil and Gas
  • $9.5 billion bridge financing for the acquisition of PeopleSoft by Oracle
  • $1.075 billion First Lien/Second Lien exit financing to FairPoint Communications
  • $2.5 billion DIP financing and emergence financing on behalf of Tranche C Lenders to Delphi Automotive
  • Significant project financings for various sub-sea fiber-optic cable systems, including Globenet and Atlantic Crossing, as well as coal and other project financings
  • Numerous other cross border acquisition and recapitalization financings, including for Ceradyne, Esterline, Mecachrome and Chesapeake
  • $100 million bridge financing to a major investment fund
  • $1.0 billion DIP financing for Quebecor World Inc.
  • $1.3 billion in senior and bridge financings for the acquisition by affiliates of Apollo Investments of certain businesses from Cendant known as Affinion
  • $1.5 billion recapitalization financing for Western Wireless and $1.25 billion recapitalization financing for Cracker Barrel
  • $400 million DIP financing to leading mall operator GGP
  • $800 million acquisition financing for the purchase of Chicago Title by Fidelity National Financial and $800 million bridge financing for Leap Wireless
  • Restructuring and workout financings involving numerous companies, including Winn-Dixie, Choice One Communications, Petroleum Heat & Power, Champion Enterprises, Delphi Automotive, AAG, Bayou Steel, Shoney’s, Buffets, Chesapeake and Quality Store
  • Numerous “one stop shopping” bank/bond acquisition and recapitalization financings, including for NDC Health, EyeCare Centers, Esterline, Landry’s, Affinion, Steel Dynamics and Hollinger
  • $350 million recapitalization financing for Alaska Communications Systems, $450 million recapitalization financing for Landry’s and $500 million recapitalization financing for Transworker Pipeline
  • $225 million ABL financing for Navistar and $800 million ABL financing for Winn-Dixie
  • First Lien/Second Lien middle market acquisition financings for John Henry, Datatel, Open Solutions, American Asphalt and Grading, Arixcel, Blue Ocean Software, Triple Crown Media, and Primedia
  • Senior/Mezzanine financings for the acquisitions of Logan’s Roadhouse and Thomas Nelson
  • $350 million cross border financing for Perkin Elmer and its subsidiaries
Michael also has extensive experience in finance transactions across many industries, with particular focus on the media, telecom, healthcare, retail, leisure (including casinos), family restaurant, energy, software, technology and industrial areas.

Prior Experience

Prior to joining Willkie, Michael was a partner at Shearman & Sterling LLP.

Selected Professional and Business Activities

Michael is a member of the American Bar Association and the New York Bar Association, and between 1991 and 2006 served as a Trustee of the Citizens Budget Commission of New York. He currently serves on the U.S. Advisory Board for, and as a Panel Member for Finance for, the Practical Law Company (PLC), where he participates in examining and identifying emerging trends and practices relevant to finance and is a member of the Council of Rockefeller University.

Michael is co-author of “Expert Q&A on Developments in Board Authorizations Post – Verizon,” Practical Law, The Journal (September 2014); "Under The Hood Of In Re Motors Liquidation," Law 360 (March 14, 2013); "Effects Of Roswell V. Alternative Construction," Law 360 (April 14, 2011); "Creditors Beware: Lessons from Recent Court Decisions," Practical Law, The Journal (September 2010); "The New Normal in Acquisition Finance Commitments," Law 360 (August 27, 2010); and "Fraudulent Conveyance Aspects of Leveraged Buyouts," International Financial Law Review. In October 2015, Michael was featured in Practical Law, The Journal as the subject of the publication’s “Checking In” section, a series in which Practical Law Advisory Board members discuss their current work and key legal developments in their practice areas.

Michael has been a frequent speaker at finance industry conferences including leading or co-leading panels on Bridge Lending for the LSTA, Recent Developments in Loan Syndication for Strategic Research Institute and Cross Border Financing issues for Omega, and serves on the Primary Market Committee and the Trade Practices and Forms Committee of the LSTA.

Publications / News / Events

+ View All Publications / News / Events