Debt Finance

Our Debt Finance attorneys represent lenders and borrowers in a wide range of complex financing transactions locally and nationally. We are pragmatic dealmakers and take pride in finding workable and efficient solutions to our clients’ business needs. We have significant experience structuring, negotiating, documenting and closing financing transactions including:

• Secured and unsecured revolving credit and term loans
• All types of commercial real estate loans, including loans in connection with acquisition, development and construction projects
• Projects and infrastructure financings
• Syndicated, club and participated loan transactions
• Revenue-based financings
• Venture financings
• Structured financings
• Loan portfolio sales and acquisition
• Acquisition financings, including significant experience working with private equity sponsors and their portfolio companies
• Mezzanine, second lien and split-collateral financings
• Workouts and restructurings
• Complex Uniform Commercial Code transactions
• Financings through HUD, Fannie Mae and Freddie Mac programs

We count among our valued clients national and regional banks, non-bank lenders, mezzanine lenders, real estate developers and investors, energy developers, corporate and commercial borrowers, private equity sponsors and their portfolio companies, REITs, start-up companies, underwriters, insurance companies and tax-exempt organizations.

Because we are one of the largest law firms in the upper Midwest, our Debt Finance attorneys can count on support from subject-matter experts in areas including ERISA, tax, bankruptcy, intellectual property, real estate, and environment, to confidently and efficiently identify and overcome any challenges specific to these areas.

Corporate, Commercial & Revenue-Based Loan Transactions

• Represented lender in connection with an $85 million revolving credit facility to a borrower in the distribution industry.
• Represented lender in connection with $100 million revolving and term credit facility.
• Represented lender in over $100 million of sponsor-backed acquisition financing transactions.
• Represented lender in $25 million revolving, term, and real estate credit facility.
• Represented lender in $10 million acquisition financing transaction.
• Represented lender in $15 million recapitalization transaction for a borrower in the food manufacturing industry.
• Represented national construction services company in connection with an $850 million revolving credit facility.
• Represented large agricultural cooperative in over $800 million of secured loan and private placement transactions.
• Represented an iron ore mining and processing company in connection with its various project financings, including a $325 million senior secured notes private offering to institutional investors, a $50 million senior secured revolving credit facility with institutional lenders, a $24.7 million tax increment financing, a $100 million tack-on notes offering to private investors and an increase in the revolving facility to $65 million.
• Represented administrative agent in connection with a $325 million syndicated credit facility for a borrower in the financial services industry.
• Represented a technology company in connection with $60 million split collateral credit facility.
• Represented corporate borrower in connection with the negotiation and origination of a $75 million loan for the renovation of its corporate headquarters.
• Represented lender on more than 100 private revenue-based financing transactions ranging from $400,000 to $5 million in principal amount.

Real Estate Finance Transactions

• Represent local and national lenders in connection with the origination of commercial real estate loans on a nationwide basis.
• Represented a regional bank in connection with a $58 million real estate term loan, including with respect to the participation of the loan.
• Represented a real estate developer in connection with the acquisition and conversion of a historic bank building in downtown Minneapolis into an upscale hotel project, including interim construction financing, tax credit financing and permanent financing.
• Represented national lender in connection with the origination of a $78 million leasehold mortgage loan in Illinois.
• Represented national lender in connection with the origination of a $34 million mortgage loan in Missouri.
• Represented national lender in connection with the origination of a $44 million leasehold mortgage in Florida.
• Represented local lender in connection with the origination of a $6 million land development loan.
• Regularly serve as local counsel on behalf of foreign domiciled lenders in connection with the origination of mortgage loans.
• Represented apartment developer in connection with the negotiation and origination of a $23 million loan used to refinance an existing apartment project.
• Represented developer in connection with the negotiation and origination of multiple loans used to repurpose former retail department store into a mixed-use retail, office and recreational use building, including the construction of the Minnesota Wild practice facility and ice rink.
• Represented apartment developer in connection with the negotiation and origination of a $109 million loan for purposes of constructing a ground up mixed-use apartment complex.
• Represented religious institution in connection with the negotiation and origination of a $12 million loan used to construct additional improvements on the church’s campus.
• Represented joint venture between general contractor and developer in connection with development and substantial rehabilitation of multifamily project in Richfield, MN, which was financed in part through a Section 221(d)(4) HUD program construction loan.
• Represented real estate investor in connection with portfolio of five HUD-insured multifamily mortgage refinance transactions.
• Represented portfolio of real estate companies in connection with several multifamily asset transfers subject to Fannie Mae and Freddie Mac loans.
• Represented real estate investors in connection with defeasance of multiple Freddie Mac multifamily housing loans.
• Represented REIT in connection with HUD approved transfer of physical asset transactions.
• Frequently act as local borrower counsel in connection with mortgage finance transactions.

Public Finance Transactions

• Represented a healthcare facility in connection with an approximately $47 million revenue bond financing to finance the construction of a significant expansion of a hospital and clinic in Minnesota.
• Represented an underwriter in connection with a tax exempt bond issue to finance the acquisition and development of a new facility for a federally qualified health center in Pennsylvania.
• Represented an underwriter in connection with placement of certificates of participation of a lease-purchase agreement to finance construction of a natural gas-fired steam heat facility and related improvements for a university in North Dakota.
• Acted as bond counsel in connection with local student housing redevelopment project.
• Represented local hospitals and schools in connection with several refunding bond issue and related matters.
• Acted as underwriter’s counsel in connection with the issuance of $38.66 million of tax exempt bonds and $12.19 million of taxable bonds by the Philadelphia Authority for Industrial Development.

Energy & Project Financings

• Represented a leading national independent power producer in connection with a multi-project credit facility for the development of wind and solar projects throughout the United States.
• Represented national solar energy developer in connection with project construction and permanent debt financing.
• Represented local wind and solar developer in connection with $100M portfolio development debt and letter of credit.

Private Equity & Mezzanine Financing Transactions

• Represent private equity sponsors and portfolio companies in connection with numerous acquisition financings.
• Represented mezzanine lender in connection with $12 million secured mezzanine loan and equity co-investment.

Capital Markets Transactions

• Represented private equity fund in connection with the acquisition of a $91 million portfolio of commercial real estate mortgage loans and mezzanine loans.
• Represented lender in connection with the acquisition of a $35 million loan portfolio comprised on commercial mezzanine loans.
• Represented institutional investor in connection with the disposition of an $84 million loan portfolio to multiple buyers.
• Represent lenders, private equity funds and other investors in commercial real estate loans in connection with the acquisition and disposition of commercial real estate loan assets on a nationwide basis.

Workouts & Restructurings

• Represented borrower in connection with $450 million debtor in possession credit facility.
• Represented borrower in connection with litigation of cash collateral use in Chapter 11 proceeding.
• Represented agricultural borrower in connection with workout of approximately $30 million of debt.
• Restructured commercial real estate debt through contested plan of reorganization.

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