Banking

Based in both our Boston and New York offices, Sullivan & Worcester's Financings Group represents domestic and foreign banks, specialized lenders and other financial institutions. Our work encompasses a wide variety of lending, credit enhancement and other financing transactions, as well as loan restructurings and workouts. Transactions handled by the Financings Group include: senior and subordinated loans (both secured and unsecured), asset-based loans, asset securitizations, project financings, letters of credit and other facilities to support international trade or enhance credit. 

Representative Client Work

• Representation of the agent bank in connection with a $60 million secured revolving credit and term loan facility to a company in the restaurant business in the southwestern United States 
• Representation of the agent bank in connection with a $30 million senior secured revolving credit and multi-tranche term loan facility to a direct marketer and distributor in a transaction also involving senior subordinated debt and equity financings
• Representation of a syndicate lender in a $125 million revolving credit facility to a national chain of restaurants
• Representation of a UK bank in connection with a $16 million cross border term loan to a US-based software company
• Representation of a bank in connection with several lines of credit secured by pledges of limited partnership interests in hedge funds 
• Representation of a UK-based bank in connection with loan sales involving US electricity generation assets
• Representation of the agent bank in connection with $65 million secured subordinate term loan and revolving credit loan facility for a subprime auto loan finance company
• Representation of a bank in connection with the secured financing of a peaking power generation facility