U.S. Sixth Circuit Holds that Customary Language in Amendment and Restatement Agreements May Extinguish Existing Security Interests via Novation
B. J. Rosen, a partner in Orrick’s New York office, serves as Global Head – Direct and Specialty Lending. B. J. has a focus on advising alternative lenders and BDCs in connection with a variety of leveraged finance transactions.
In addition, he advises top tier investment banks on syndicated credit facilities for acquisition finance transactions, dividend recapitalizations, corporate refinancings and debtor-in-possession financings.
Before joining Orrick, B. J. practiced with Cravath, Swaine & Moore LLP, focusing on a wide variety of syndicated lending, equity and debt securities, M&A and corporate advisory matters.
B. J. serves as Senior Outside Legal Advisor for The Innocence Project, an organization dedicated to exonerating wrongly-convicted prisoners through DNA testing.
Some of B. J.'s recent transactions include advising:
Credit Suisse, as agent, for a $140 million term loan to a hospital management company in connection with a leveraged ESOP buyout.
Bank of America, N.A., as administrative agent and lead arranger, for a $770 million credit facility for APR Energy PLC, an international energy company.
Wells Fargo Securities, as sole lead arranger, and Wells Fargo Bank, as administrative agent, in connection with the extension of $300 million in senior secured credit facilities (comprised of a term loan facility and revolving facility) to finance the acquisition by Synaptics Incorporated of Renesas SP Drivers Inc.
Credit Suisse AG, as administrative agent and lead arranger, for the $395 million first lien / second lien credit facilities of CT Technologies, a medical services company.
Deutsche Bank AG, as administrative agent and lead arranger, for a credit facility for a major cancer therapeutics provider.
Credit Suisse AG, as administrative agent and lead arranger, for a unitranche lending facility for a specialty healthcare therapeutics company.
Wells Fargo Bank, N.A., as administrative agent and lead arranger, for a revolver and term loan facility for a sponsor-owned mining conglomerate.
Wells Fargo Bank, N.A., as administrative agent and lead arranger for a syndicated credit facility for a business development company.
Credit Suisse AG, as administrative agent and lead arranger, for a $1 billion first lien revolving and term loan credit facility and second lien term loan facility for Atlantic Broadband Finance, LLC, a broadband cable provider.
Deutsche Bank Securities Inc. and Goldman Sachs Bank USA, as joint lead arrangers, for a $260 million U.S. term loan facility, a $50 million U.S. revolving facility and a €75 million European term loan facility for Norit Holding B.V., a maker of activated carbon products.
Credit Suisse AG and Goldman Sachs Lending Partners LLC, as joint lead arrangers, of a $1.425 billion revolving and term loan credit agreement for Visant Corporation, a marketing and publishing company.