Financings

Sullivan & Worcester LLP’s financings practice encompasses secured and unsecured lending, securitizations, equipment and other structured financings and credit enhancement across a wide range of industries. We also work with the private placement of unsecured investment-grade notes and purchases of high-yield, second-lien and mezzanine debt. Our clients include banks as well as non-bank institutional lenders, including insurance companies, pension funds, mezzanine funds and similar institutions. We also represent both dealers and end-users in derivative transactions, and are actively involved in the negotiation of International Swaps and Derivatives Association (ISDA) documentation (including collateral support annexes and other related collateral).

We provide representation and advice in all aspects of financing, from the term sheet/commitment phase through documentation to closure, as well as the workout and restructuring of credits and implementation of appropriate lender rights upon default. Our broad experience allows us to represent clients efficiently and effectively in diverse transactions, from the single lender in a traditional working capital loan to the lending syndicate in a multi-tranche, multi-lender, cross-border transaction to the mezzanine lender in a leveraged financing.

Practice Profile (PDF)

Representative Client Work

Bank Client Transactions

• The agent bank in a syndicated secured revolving credit and multi-tranche term loan facility to a direct marketer and distributor
• The sole bank lender in a revolving credit facility, with foreign and domestic tranches, to a publicly held global service company
• The asset-based lending division of a major bank holding company as agent bank in a syndicated secured revolving credit facility to a lease financing company

Non-Bank Client Transactions

• A private equity fund in connection with a $200 million multi-bank bridge line of credit 
• Private firms in connection with aircraft acquisition financings, including both whole aircraft and undivided fractional interests in aircraft under the NetJets and Bombardier Flexjet fractional interest programs
• A syndicate of insurance companies and mezzanine funds in connection with the purchase of subordinated and second lien note tranches of an acquisition financing of a consumer products manufacturer by a buyout fund