U.S. Sixth Circuit Holds that Customary Language in Amendment and Restatement Agreements May Extinguish Existing Security Interests via Novation
David’s level head and sophistication affords his clients peace of mind through each stage of complex national and international finance transactions.
Described as “awesome at following up on the details and managing difficult discussions with the clients” in the 2017 California Banking & Finance category of Chambers USA, David assists major financial institutions, public and privately owned companies and direct and alternative lenders in effectively assessing legal risks in complex secured and unsecured commercial finance transactions. He advises on acquisitions, dividend recapitalizations, project construction and development, and corporate refinancings, as well as workout and restructuring matters. His experience also extends to financings involving gaming companies, Native American tribes and tribal enterprises, including new casino projects and casino expansion projects.
Advised Pacific Gas and Electric Company, one of the largest regulated combination natural gas and electric utilities in the United States, on its $3 billion investment grade credit facility led by JPMorgan.
Advised Sky Solar Holdings on a $80 million delay draw, construction and term loan credit facility from the Inter-American Development Bank and affiliated lenders to six project companies that are majority owned and controlled by Sky Solar. The proceeds of the credit facility are being used to construct six solar power plants in Uruguay. The benefits this project will provide to Uruguay makes this one of the most significant solar energy project financings for the country to date.
Advised Wells Fargo as administrative agent and lead arranger in a $750 million credit facility for Oaktree Capital Group.
Advised the arranger and lender in connection with a complex greenfield construction loan facility to a Native American tribe that is being used to build its first gaming facility.
Represented Wells Fargo, as lead arranger and administrative agent, on a $250 million senior secured revolving credit facility for Monarch Casino Resort, Inc. The facility includes a construction facility for the expansion and modernization of the Monarch Casino Black Hawk as well as the costs of building a new 22-story hotel tower.
Represented the lead arranger for a $200 million term loan B credit facility to a privately held chain of supermarket stores operated under various brands in northern California and Nevada.
Advised a leading alternative lender on a $75 million term loan to an ESOP-owned hospital management company.
Represented the administrative agent and lead lender on a $145 million revolving credit facility to a trust of a high-net worth individual for the purpose of purchasing margin stock.
Advised the administrative agent and lead arranger on a $250 million borrowing base credit facility to a leading BDC Bay Area lender to venture-backed companies.