With finance lawyers strategically located throughout the U.S. and internationally, the world’s largest lending institutions, funds, companies and institutional investors across a multitude of industries call on Bracewell’s lawyers to assist with their financing needs. According to Chambers USA 2016, market commentators widely agree that Bracewell stands at the forefront of the finance market.
Lenders, underwriters, issuers and borrowers turn to Bracewell’s finance practice to draw upon its extensive capabilities to assist with their high-level and complex financing deals. Whether it is corporate loans or capital market debt, first or second lien financing, project financing or restructurings and workouts, we draw on our extensive capabilities to help sponsors and lenders in financing all forms.
Our asset-based lending team includes more than 35 attorneys and regularly represents lenders and borrowers in asset-based lending transactions. This team has a wealth of experience navigating a broad range of lenders through all conceivable market conditions—including a credit market that requires stricter-than-ever adherence to underlying asset values.
We have represented lenders and financial institutions in a tremendous number of debt financing transactions, developing along the way the know-how to structure asset-based lending transactions in the U.S. and internationally that will even withstand the pressures of a restructuring or an insolvency proceeding.
The firm’s asset-based lending attorneys are skilled in:
- Documenting the typical asset-based working capital facility for lenders and borrowers.
- Documenting transactions with challenging collateral categories, including the specialized issues associated with intellectual property collateral.
- Identifying, analyzing, and resolving bankruptcy, tax, and environmental law issues.
- Navigating the intricacies of revised Article 9 of the Uniform Commercial Code and can guide clients through its new issues and procedures.
- “Second lien” and “last out/B loan” structures (as well as the often complex intercreditor arrangements that arise in these transactions).
- Negotiating, documenting, and analyzing debtor-in-possession financings.
- Navigating the waters of the chapter 11 process for the DIP financing lender in connection with a chapter 11 debtor's reorganization process.
The firm represents banks, commercial finance companies, private investment funds, and hedge funds in negotiating and structuring asset-based transactions. The industries served by such transactions include almost every industry one could name, from energy to agriculture, from healthcare to automotive.
- Represented Société Générale as lead arranger in a $900 million secured revolving credit facility for Colonial Industries
- Represented Old World Industries, Inc. in a secured $200 million revolver arranged by Wells Fargo Bank, NA.
- Represented Credit Agricole, as administrative agent, in connection with a $950 million senior-secured revolving credit facility to McDermott International Inc., secured by offshore drilling vessels.
In loan and equity investments, Bracewell’s finance lawyers have an eye toward the dual goals of lender protection and maximum upside flexibility, especially for borrowers whose credit risks justify higher returns. We advise clients in matters related to mezzanine, first or second lien, and subordinated financings and the intercreditor and business issues associated with these types of transactions. Our clients include domestic and international hedge and private equity funds, commercial banks and investment banks engaged in the business of lending to companies unable to obtain traditional financing, including companies undergoing financial restructuring or bankruptcy.
Bracewell’s project finance group includes members who, over the last five years have been internationally recognized by Legal 500, Euromoney Institutional Investor’s Project Finance & Infrastructure Journal and InfraDeals for their recent work on infrastructure projects. Our project finance lawyers help energy companies, private equity sponsors and their lenders successfully develop, restructure, purchase and sell energy assets and projects. We have structured a wide range of sophisticated financing arrangements and acquisitions. From initial planning to completion, we serve as a single resource for every aspect of project finance activity: preparing bids, analyzing risks, establishing joint ventures or other entities to handle the project, and preparing every aspect of transaction documentation.
As an energy-industry leader, Bracewell’s finance lawyers represent domestic and international lending institutions as well as public and private oil and gas companies in the full range of reserve-based financings. Regardless of context, we advise our clients throughout the lifecycle of the loan, always with an eye toward meeting their broader goals.
Bracewell’s structured and commodity finance lawyers negotiate and document the purchase and hedging of financial and physical assets, the financing of multi-national commodity trading businesses, and commodity processing, transportation, and storage businesses. Underlying assets range from receivables and other revenue streams, inventory financing and storage, energy production payments and synthetic leases. Our work in this area also encompasses hedging arrangements, credit sleeves, partnership financing and preferred stock issuances. We also advise clients in highly specialized financings, including arrangements in which physical or financial assets are securitized. These transactions often include the use of derivatives and financial and physical commodity trading arrangements.
Bracewell consistently ranks in the top tier of firms representing borrowers and lead arrangers in the U.S. syndicated loan markets. We enjoy a solid reputation in the syndicated loan markets for knowledgeable lawyers with deep experience on both sides of the table. We take a pragmatic and highly skilled approach to structuring, negotiating and documenting deals. With our global finance capabilities, we can help clients arrange syndicated financing structures virtually anywhere in the world. We represent domestic and international lending institutions money center, foreign, and regional banks that regularly act as the lead arrangers in these types of financings. We also advises corporate borrowers each year on billions of dollars in syndicated loans. Our deals include traditional corporate revolving and term loans, complicated structured financings, private equity backed acquisition financings, reserve based loans, investment grade loans, highly leveraged secured loans, project financings, bridge loans, and commercial paper back-stop facilities.