Covington has a highly sophisticated practice involving financing in the credit and capital markets. The firm advises corporate borrowers, private equity funds, financial advisers, commercial banks, investment banks and other financial institutions with regard to acquisition finance, project finance, derivative products, commercial banking transactions and various other forms of transaction involving the use of credit. We also assist corporate issuers, private equity funds and financial institutions in debt capital market transactions, including high yield and investment grade debt offerings, secured and unsecured, and in the public markets and in Rule 144A and Regulation S private placements.
Our finance lawyers work closely with the firm’s corporate, financial institution and private equity clients financing acquisitions through the credit and capital markets. We also have substantial experience representing credit providers, advisers, sponsors, joint venture partners and contractors participating in non-recourse and limited recourse project finance transactions in numerous industries (including energy and sports). We also represent issuers, sponsors, advisers, credit enhancers and investors participating in structured finance, securitization and monetization transactions.
In representing Covington’s clients in the credit and capital markets, our finance lawyers frequently draw on the firm’s vast industry and regulatory experience in areas such as communications, energy, financial institutions, life sciences, sports, technology and transportation, as well as antitrust, bankruptcy, creditors’ rights, environmental regulation, ERISA, real estate and tax. By doing so, our finance lawyers assist our clients in their assessments of credit risk and performance of their due diligence and help our clients develop creative structures that anticipate industry and regulatory concerns.
Representative Matters
The breadth and depth of Covington’s finance practice in the credit markets is illustrated by our representation of the following clients:
- An investor in connection with the acquisition of equity interests in leveraged lease structures relating to two wind farms located in California with a combined nameplate rating in excess of 250MW.
- Bacardi Limited in its significant finance matters, including a $2 billion multicurrency credit facility and an associated $1 billion bridge loan.
- Charlesbank Capital Partners in acquisition and other financings in the range of $50 million to $300 million relating to Blacksmith Brands Inc., Horn Holdings, Zenith Products, Cedar Creek, Peacock Engineering, Aurora Organic Dairy and GSI Group.
- ChemRX Corporation in $162 million of first and second lien facilities.
- Credit Agricole in financial restructurings and bankruptcy proceedings in agricultural, mining, retail and other industries.
- Energy Conversion Devices, Inc. in its $316 million offering of 3.00% convertible senior notes.
- GE Capital in a $22.5 billion multi-currency revolving credit facility.
- The Goodyear Tire & Rubber Company in its significant finance matters, including more than $6 billion of first, second and third lien credit facilities and secured and unsecured notes offerings in the US and abroad.
- Joy Global Inc. in its significant finance matters, including a $1.5 billion acquisition facility.
- Kerr-McGee in more than $8 billion of secured and unsecured credit facilities.
- King Pharmaceuticals in its significant finance matters, including a $500 million senior secured revolving credit facility (with a $500 million term loan accordion feature).
- LIN Television Corporation in its significant finance matters, including a $550 million secured credit facility and the issuance of $200 million of senior notes.
- Mastercard International in the structuring of global collateral arrangements, including cross-border bankruptcy-remote structures.
- Microsoft Corporation in repo transactions relating to its $20 billion equity self-tender and its $30 billion special dividend.
- The National Football League as principal counsel for league and team financings, including league-wide credit facilities, team acquisition financings and stadium financings.
- Pepco Holdings, Inc. in its significant finance matters, including syndicated credit facilities, commercial paper programs, bilateral credit agreements, bridge acquisition facilities, a credit intermediation arrangement and swap transactions.
- Rabobank in connection with the creation of a committed purchase facility for a portfolio of receivables.
- Radio One, Inc. in its issuance of $200 million of senior subordinated notes.
- SandRidge Energy, Inc. in its significant finance matters, including a $1.75 billion senior secured borrowing base facility and more than $1 billion of debt capital markets transactions.
- Tronox Incorporated in a $350 million bond offering in connection with its initial public offering and spin-off from Kerr-McGee Corporation.
- Wilmington Trust as trustee and collateral agent in numerous secured and unsecured financings.
|
|