Banking & Finance

Banking & Debt Capital Markets

Orrick’s Banking & Finance practice is focused on representing investment and commercial banks, investment funds and other credit providers in sophisticated financings for acquisitions, buyouts, restructurings, and other corporate finance transactions, including syndicated credit facilities and debt capital markets transactions. We also serve as counsel to many of the world’s leading corporations in a variety of finance transactions. From our offices in New York, San Francisco, Los Angeles, Paris, London, Moscow, Rome, Hong Kong and Tokyo, we represent lenders and borrowers on transactions in the United States, Europe and Asia and across global borders. 

Types of Services

We provide services throughout the United States, Europe and Asia, acting for borrowers and lenders in a range of secured and unsecured finance transactions, including:

  • Credit facilities - syndicated and single lender / secured and unsecured
  • First and second lien loans; unitranche loans
  • Leveraged loans, including acquisition loans, dividend recaps and bridge financings
  • Tender offer financings
  • Asset based loans
  • Equipment financing and leasing
  • Export finance
  • Trade/inventory/receivables finance
  • Working capital and letters of credit
  • Guarantees and credit support/enhancements
  • DIP, 363 sales and exit financings
  • Warehouse facilities
  • Mezzanine and subordinated financings
  • Direct lending
  • Traditional private placements
  • Debt capital markets / high yield
  • Emerging company debt financings
  • Public private partnerships
  • Derivatives

Industry Focus

  • Chemical, Energy
  • Gaming/Tribal
  • Healthcare
  • Infrastructure
  • Oil and Gas
  • Real Estate
  • Space and Satellites
  • Technology
  • Transportation: Aircraft, Auto, Maritime, Rail

The Orrick Difference

Diverse Service Offering. Orrick’s Banking & Finance lawyers advise on matters ranging from investment grade credits to leveraged and second lien financings, offering a full complement of services. We have particular experience in the real estate, maritime and gaming sectors.

Cross-Border Practice. Our global team regularly collaborates on cross-border transactions, including secured and unsecured financing and capital markets transactions in the Americas, Europe, the Caribbean and Asia.

Regulatory Counseling. Orrick advises banks and bank holding companies on U.S. Federal, State (including New York and California), Asian and European bank regulatory matters and securities law matters.

Multi-Disciplinary Approach. Our lawyers seamlessly work with highly regarded corporate and other finance teams on transactions involving Corporate, Environmental Law, ERISA, Intellectual Property, Litigation and Arbitration, M&A, Project Finance, Real Estate, Regulatory, Restructuring and Tax matters.

Orrick's relevant experience includes representing:​

Americas

Bank of Nova Scotia and Canadian Imperial Bank of Commerce as co-arrangers of a $630 million credit facility for the acquisition by SOL Investments of Exxon Mobil’s Caribbean operations, including service stations, industrial, marine and aviation refueling operations and interests in refinery operations. The collateral securing the facility includes assets in 14 jurisdictions throughout the Caribbean.

Bank of America and Wells Fargo in a $650 million credit facility for APR Energy to finance the acquisition of General Electric’s long-term temporary power generation rental business and the acquisition of a power plant in Libya.

Bank of Nova Scotia and Credit Suisse in a $250 million first lien/second lien financing to Grupo HIMA San Pablo, a large hospital chain in Puerto Rico.

Barclays Capital as arranger in connection with a $1.825 billion first lien/second lien secured credit facilities for a borrower specializing in automotive dealership properties.

Credit Suisse as arranger in a $405 million first lien/second lien dividend recap transaction with a portfolio company of a leading financial sponsor.

Jefferies in a $97.5 million bridge loan to Waypoint Borrower LLC to finance the purchase and renovation of single family residential real estate to be leased as rental properties.

New York Life Investment in connection with its corporate finance transactions, including the acquisition of interests in ECA-guaranteed loans from various financial institutions, investment advice regarding structured settlement backed notes and loans for life science and health care funds, purchase of aircraft and refinancing to an oil and gas VPP.

Nova Chemicals Corporation in a $500 million issuance of senior notes and tender offer to buy back up to $350 million of its existing, outstanding 8.375% Senior Notes due 2016. 

Royal Bank of Scotland as lead agent in a $300 million first lien/second lien refinancing for a publicly traded company to allow its subsidiary to default on an outstanding loan which it then paid in full in a controlled crash. 

Wells Fargo. We regularly work with a number of Wells Fargo’s investment banking and commercial lending groups on complex and high-value debt transactions, including syndicated leveraged credits. We also advise Wells Fargo’s Gaming Finance group on tribal and corporate gaming finance matters, including advising Wells Fargo as the largest bank lender in the $2.3 billion debt restructuring of the tribe that owns and operates Foxwoods Resort Casino in Connecticut.

Europe

Allianz Global Investors, Bayern LB, BTMU and HSBC in the €127 million financing of the Cité de la Musique Project, a 36,500 m² cultural facility in Paris – the first French PPP financed through the securitization of discounted receivables. 

Banco Santander as issuer in connection with a €600 million CESCE export credit facility to GALP Energia for the conversion of a refinery in Sines, Portugal.

BNP Paribas and a syndicate of banks on the restructuring of a $1.2 billion export and French tax lease ship financing for CMA CGM.

Crédit Agricole Corporate and Investment Bank in connection with a €200 million loan facility for CMA CGM to refinance the acquisition of the “CMA CGM Magellan” following its exit from a tax lease.

Hines France as borrower in all of its financing transactions with an aggregate value of over €259 million in 2013.

Millicom International Cellular on the issuance of US$800 million of 6.625%, 8-year senior notes in a Reg S/144A high yield bond transaction.  The transaction, which was over-subscribed, finances a strategic merger in Colombia.

Natixis as sole arranger and lender in the €100 million financing of the construction of a 40,000 seat multi-purpose stadium in Paris that will be home to the Racing Metro 92 rugby team. The financing is backed by a security interest in a portfolio of securities held by a high net worth investor.

Natixis and Société Générale and 18 international banks in relation to a €1.25 billion revolving credit for Areva.

14-bank syndicate led by Sberbank and ZAO Raiffeisenbank in connection with a RUB 86.5 billion (approximately $2.9 billion) debt restructuring of pipe maker Chelyabinsk Tube-Rolling Plant (ChelPipe). Named “Best Restructuring in the CEE” in 2013 by EMEA Finance Magazine.   

Sberbank and Sberbank CIB on the structuring and subsequent restructuring of a $1 billion credit facility for Belaruskali, a leading producer of potash.

Viking Cruises, Ltd. in connection with its first offering of debt securities, a Rule 144A/Regulation S offering of $250 million of 8.50% Senior Notes, for the acquisition of river vessels and other corporate purposes. The notes were guaranteed by Viking Cruises subsidiaries in 7 countries, including the US.

Vinci Immobilier as borrower in a €413 million financing for the new SFR headquarters.

ZAO Raiffeisenbank, ING Bank N.V., Sberbank of Russia,  VTB Capital plc, HSBC Bank plc and Rosbank as arrangers on a debut five-year $220 million Term Loan Facility to the UralChem Group, the world’s second largest ammonium nitrate producer.  Recognized as “Deal of the Year” by Trade Finance.

Leading firm for Banking & Finance in France, Italy, Japan, Russia, South Korea and the U.S. – Chambers 2014

“Best International Law Firm: Finance Category” – Décideurs Strategie Finance Droit 2013

Leading firm for Banking & Finance in France, Italy, Russia and the U.S. – IFLR1000 2014

Leading firm for Banking & Finance in France, Italy and Russia – Legal 500 2014

Leading firm for Native American Law in the U.S. – Chambers USA 2014

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