Loan Syndications and Trading/Syndicated Credits

Chapman and Cutler is a leader among law firms in the complex arena of syndicated lending. As an associate member of the Loan Syndications and Trading Association (LSTA), we pride ourselves on helping our clients keep pace with the latest trends in the loan syndications market.

We work closely with our clients from the first stages of each transaction to determine the optimum legal structure for the transaction. We assist our clients in the creation of understandable, market-sensitive term sheets, commitment letters, and related documents necessary for their day-to-day loan syndication business.

We help clients solve legal and business issues that arise in the fast-moving loan syndications market. We draft and negotiate loan documentation that protects our clients' interests while remaining readable and user-friendly. Our approach to your important transaction focuses on getting your deal done in a timely fashion while never compromising your interests.

Additionally, Chapman has significant experience in the sale of both par and distressed debt, inside and outside of bankruptcy.

Related Practices

Representative Transactions

• We served as counsel to the agent bank in a $400 million, three-year unsecured revolving credit facility for a consumer-goods manufacturing company.
• We were counsel to the agent bank in the restructuring of a $197.5 million multicurrency secured term loan and revolving credit facility for a U.S.-based global manufacturer.
• We represented an agent bank client in the restructuring of $200 million secured term loan and revolving credit facility for a U.S.-based manufacturer of optical scanning and related equipment, which was widely syndicated to commercial banks and funds.
• As legal counsel to our agent bank-client in a $400 million, secured revolving credit facility to a national credit card processing company, we negotiated facilities consisting of two U.S. credit agreements and one Canadian credit agreement with common collateral and an inter-creditor arrangement.
• We represented the agent bank in a $500 million acquisition financing transaction for a large high technology borrower. The deal was structured with a reducing revolving facility tranche with a four-year tenor and a 364-day revolving facility tranche.
• We represented the agent bank in negotiations with a public utility company and co-borrower on a $300 million working capital facility.
• We acted as counsel to the agent bank in a $250 million term and revolving credit facility for a large high technology borrower.
• We represented the agent bank in a $225 million revolving credit and standby letter of credit facility in favor of a large semiconductor company and its subsidiaries as co-borrowers. As part of this engagement, we also negotiated a $35 million stand-alone multicurrency revolving credit facility on behalf of the lending bank.
• We acted as counsel to an agent bank in a $105 million revolving credit, term loan, and letter of credit facility with a multinational construction company and its domestic and foreign subsidiaries as co-borrowers.
• We advised an agent bank in a $175 million revolving credit and letter of credit facility for a large poultry processing company, secured by a portion of its working capital assets.
• Our legal team has represented the selling bank in the negotiation of numerous sales of distressed bank loans on Loan Syndications and Trading Association (LSTA) standard form documents, both inside and outside of bankruptcy.