Willkie’s Finance team provides comprehensive counsel to global clients in their most sophisticated financing transactions. With 70+ dedicated finance lawyers, our team possesses the experience and in-depth knowledge of the markets in which our diverse clients operate to provide creative, business-focused legal advice.
Our Finance team is recognized as an industry leader, particularly for clients in the upper and middle market, and for its breadth of practice. We handle the entire range of financing transactions for a diverse array of clients across the U.S. and Europe—private equity sponsors and their portfolio companies, public and closely held companies, among others—as well as institutional lenders, direct lenders and special situation capital providers. We also have extensive experience in asset management finance and regularly advise on major project and energy finance transactions.
Willkie is among a small group of leading global law firms with the capabilities and cross-disciplinary strengths to excel at complex, cross-border finance transactions, especially between the U.S. and Europe. Our Finance team works seamlessly with the private equity, M&A, business reorganization and restructuring, capital markets, structured finance, insurance, real estate and tax groups to achieve timely, efficient and smooth execution of transactions.
Willkie’s Finance team is recognized by prestigious legal ranking publications such as Chambers USA (Nationwide, New York and Texas), Chambers Europe (France, Germany and UK), Chambers UK (London), Legal 500 U.S., Legal 500 Deutschland, Legal 500 UK, and Legal 500 EMEA (France) for its deep experience and preeminent service. A client reported to Chambers USA, “They are responsive and will move heaven and earth for us. They’re extremely capable, qualified and a tremendous asset to our business. We would not be where we are without the firm.”
Experience
Willkie’s Finance team represents a wide range of sponsors, including privately owned investment advisers, publicly traded asset management firms, broker-dealers, insurance companies and banks, in the establishment of credit facilities for ’40 Act funds as well as unregistered private equity, real estate, mezzanine, infrastructure and other investment funds. Our experience includes traditional subscription (capital call or equity bridge) facilities used to bridge capital calls, working capital and/or finance investments, in addition to a variety of NAV-based and hybrid facilities including GP financing. Working seamlessly with our asset management, financial regulation, ERISA and tax groups, we rely on our deep technical and commercial experience—as well as on our experience working on the underlying deals being financed—to deliver thoughtful, timely and efficient solutions that are tailored to our clients’ individual businesses and needs.
- A private equity sponsor in connection with the establishment of a $3.2 billion fund subscription facility.
- A private equity sponsor in connection with the establishment of a $1.4 billion fund subscription facility.
- A private equity sponsor in connection with the establishment of a $165 million management fee credit facility.
- A private equity sponsor in connection with the establishment of a €161.4 million equity bridge facility.
- A mutual fund in connection with a $1.5 billion revolving credit facility.
Willkie’s Finance team advises a diverse group of private credit funds and other institutional investors across their range of strategies, from direct lending through to loans into stressed and distressed capital structures and other special situations opportunities (including non-performing loan portfolio acquisitions). Combining a deep understanding of credit fundamentals with broad exposure to the syndicated leveraged finance market, we are able to provide advice that recognizes the competitive nature of these transactions while also focusing on credit risks and the need for protection through robust documentation.
- Blackstone Credit in a first lien senior secured term loan of up to $750 million for Alnylam Pharmaceuticals, Inc.
- Blackstone Credit in connection with financing for Permira’s approximately $5.8 billion take-private of Mimecast Limited.
- BMO Sponsor Finance in financing the acquisition of Datametica by Onix, a portfolio company of Tailwind Capital.
- Ardian in connection with the €430 million unitranche financing for the acquisition by Eurazeo of Sevetys.
- Bain Capital Credit in connection with the financing of EMK’s acquisition of Outright Games.
- Antares, as administrative agent, and the lenders in connection with the financing of the acquisition of Radancy by New Mountain Capital.
- Adams Street Partners, as administrative agent, and the lenders in connection with the financing of the acquisition of Emmes by New Mountain Capital.
- Pemberton and Bridgepoint Credit in connection with the €220 million unitranche financing for the acquisition by Bridgepoint of Partners Finance.
We are widely recognized as a leader in the areas of project finance (energy and infrastructure), public financings, public private partnerships (PPPs) and concessions. Our experience includes projects such as underground trains, high speed railway lines, motorways, hospitals, stadiums, airports, tunnels, and waste treatment facilities, as well as projects in the water, power, petrochemical, industrial and metals, and mining sectors. Clients include host governments, regulators, sponsors, contractors, off-takers, export credit agencies and lenders.
- Caliche Development Partners and its subsidiaries in its project financing with Orion Energy Partners to complete the first helium storage cavern project located in North America.
- Haddington Ventures on the creation of a $650 million equity syndication program to finance construction of the world’s largest green hydrogen platform.
- CapturePoint LLC, a Texas-based upstream oil and gas CO2 capture and sequestration company, in its secured reserve-based credit facility.
- Arevia Power, a U.S. renewable energy developer, in its $150 million senior secured loan facility with warrants to pay for development expenses, overhead and other working capital needs from Global Atlantic, an affiliate of KKR and GCM Grosvenor.
Willkie’s Finance team advises publicly traded companies both in their ongoing financing needs and acquisition and M&A financing transactions. Working with our M&A and capital markets groups with a “one team” approach, we deliver best-in-class legal services and seamless execution across a wide range of industries. Our financial markets savvy and understanding of public markets makes us a leader in this space.
- Air France KLM and Air France on its €4 billion French State measures to recapitalize Air France and its holding company.
- InVivo Group in the arrangement of €1.6 billion of financing in connection with its acquisition of Soufflet Group.
- Take-Two in financing related to its approximately $12.7 billion acquisition of Zynga, a global leader in interactive entertainment.
- FIS, a global leader in financial services technology, in the bridge financing for its $42 billion merger with Worldpay, Inc., the largest fintech deal ever.
- PBF Energy, Inc. in the refinancing of its $3 billion asset-based credit facility.
Willkie’s Real Estate Finance practice is among the top in its field, handling the most sophisticated real estate transactions nationwide. Our team handles complex real estate financings, regularly advising debt funds, banks, life insurance companies and other lenders and owners and operators on a comprehensive scope of real estate finance matters, including the origination, syndication, disposition and exercise of remedies of commercial real estate mortgage and mezzanine loans involving a variety of asset classes (such as office, multi-family residential, mixed-use, hotels, malls and other shopping centers, casinos, industrial senior housing, life sciences, data centers and other commercial properties located throughout the U.S).
- Paramount Group, Inc. in its $860 million refinancing of 1301 Avenue of the Americas, a 1.8-million-square-foot Class A, trophy office building located between 52nd and 53rd Streets in Midtown Manhattan
- DiamondRock Hospitality Company, a real estate investment trust that owns a portfolio of premium hotels, in its $1.2 billion refinancing
- Harbor Group International in its $342 million refinancing of 850 Third Avenue, a 21-story, 617,000-square-foot commercial office building in Manhattan
- A global bank in more than $1 billion of commercial mortgage loans secured by a variety of asset classes, including hotels and resorts, shopping centers and industrial properties
- A hedge fund in various loan originations, preferred equity investments and other real estate matters, including the origination of a mortgage and mezzanine loan in an aggregate amount in excess of $930 million
- A prominent life insurance company lender in a $120 million acquisition loan and $330 million construction loan for 125 West 57th Street on Midtown’s Billionaire’s Row
Willkie’s dedicated private equity finance practice represents 130+ private equity funds in the U.S. and across Europe. Our team partners with our clients from the original buy-out transaction through the life of an investment, including incremental acquisition financings, dividend recapitalizations, repricings and debt restructurings. The scale of our practice and depth of experience allows us to consistently negotiate top-of-the-market terms for our clients.
- Platinum Equity in its $4.5 billion acquisition of McGraw Hill, a global leader in educational content and digital platforms, from Apollo Funds.
- Genstar Capital in the financing aspects of the recapitalization of Cerity Partners, a leading independent wealth management firm.
- Ardian in connection with the €600 million cov-lite Term Loan B financing for the acquisition of Cerelia and subsequently Cerelia on financing aspects of its acquisition of English Bay Batter as well as on a €70 million state-backed financing.
- Five Arrows in connection with the €327.9 million unitranche financing for the acquisition of Groupe EDH as well as the related super senor financing.
- PAI Partners and Labeyrie Fine Foods in connection with a €520 million cov-lite Term Loan B refinancing.
- MSD Private Capital in its $1.2 billion acquisition of West Monroe Partners Inc., a market-leading digital services firm.