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Banking

“Skadden has outstanding experience and insight in this area and is staffed to provide the highest level of client service.” — U.S. News — Best Law Firms 2014

The Banking Group at Skadden, Arps, Slate, Meagher & Flom LLP and affiliates (“Skadden”) represents lenders and borrowers in some of the largest and most complicated financing transactions worldwide. Our lawyers are located in the major financial centers on five continents and provide our clients in the U.S., Asia, Australia, Europe and South America with an in-depth understanding of the global markets.

Our clients include some of the world’s largest commercial banks, investment banks, insurance companies, finance companies, investment and merchant banking firms, private investment funds and other institutional lenders and investors, as well as LBO sponsors, private equity funds, hedge funds, strategic buyers, borrowers and issuers of securities.

Skadden banking attorneys advise on all types of financing transactions around the world, including:

  • first and second lien loan facilities;
  • acquisition financings;
  • senior and subordinated bridge financings;
  • leveraged recapitalization financings;
  • asset-backed financings;
  • mezzanine financings;
  • workouts, restructurings, DIP and exit financings;
  • private placements; and
  • investment grade financings.
We work with attorneys in Skadden’s corporate finance, mergers and acquisitions, corporate restructuring and structured finance groups to provide seamless representation and integrated legal services.

Leveraged Finance

We advise clients worldwide on all types of financings, including integrated bank and bond financings and bridge financings. Attorneys in our Banking Group work with our mergers and acquisitions, private equity and corporate finance practices to service U.S. and international clients on a variety of transactions.

Our leveraged finance clients include some of the world’s largest investment banks and financial institutions, private investment funds and other institutional lenders and investors, as well as LBO sponsors, private equity funds, hedge funds, strategic buyers, and other corporate borrowers and issuers of securities. We have advised on numerous noteworthy leveraged financings, including Credit Suisse in its fully underwritten covenant-lite $5 billion senior secured term loan to Fortescue Metals Group, the second-largest leveraged covenant-lite term loan of all time, the largest institutional term loan since 2007, and the largest-ever leveraged metals and mining term loan, which was recognized in the 2013 Financial Times "US Innovative Lawyers" report.

Acquisition Finance

Our attorneys represent a broad range of banks and other financial institutions, as well as borrowers, private equity sponsors, hedge funds and other investors, on all aspects of acquisition and leveraged financing transactions, from the deal structuring and commitment stage to closing. We have worked on some of the most significant acquisition and leveraged financings worldwide, including for the underwriters of a $3.1 billion secured credit facility for Crown Castle International, a portion of which will finance Crown’s acquisition of NextG Networks and Wireless Capital Partners., and DENTSPLY International in its $1.8 billion acquisition of Astra Tech (Sweden) from AstraZeneca (United Kingdom). We often are at the forefront of developments in all stages of the business cycle, providing us with the ability to counsel clients on changes and developments in market practices. We represent both lenders and borrowers in dealing with commitment letters and advising on senior, second lien, mezzanine, bridge and other junior or subordinated financings. The Banking Group also works with the firm’s M&A attorneys to advise clients on both the financing and buy/sell aspects of an acquisition financing transaction. Additionally, we work with our corporate finance attorneys to represent clients in bank/bond transactions.

Debt Restructuring

Working with lawyers in our corporate restructuring practice, we provide fully integrated advice across the entire credit cycle, from the origination of the debt to amendments, debt buy-backs, distressed refinancings and the restructuring and renegotiation of debt instruments in capital structure. Skadden represents both borrowers and lenders in relation to the restructuring of a wide range of financings involving various industries. Our experience extends to both in- and out-of-court restructurings, financial recapitalizations, business reorganizations and liquidations. We advise on insolvency issues in corporate and financing transactions and on distressed debt trading and securities issues. Our attorneys have advised on numerous innovative restructurings, including Travelport in a complex cross-border financial restructuring that involved $3.8 billion of debt as well as the restructuring of a $715 million pay-in-kind credit facility, which was named 2012 “Consumer Services Deal of the Year” by The M&A Advisor; and Barclays Bank PLC in a $1.45 billion debtor-in-possession credit facility for Residential Capital, LLC in connection with its Chapter 11 bankruptcy filing, which was awarded 2012 “Deal Financing of the Year” by The M&A Advisor and ranked in the 2012 Financial Times “US Innovative Lawyers Report."

We are experienced at negotiating with various tiers of creditors, who have disparate rights and objectives. Our attorneys marshal them toward a negotiated solution that allows all parties to move forward with a financing package and avoid the potentially damaging alternative of a formal insolvency process.