“ Honigman is a Detroit legal powerhouse; it is well known for the level of sophistication of its work product, as well as the pedigree of its attorneys. ”

Banking and Finance Section
Chambers USA: America's Leading Lawyers for Business

Honigman's Finance Practice Group has extensive experience counseling clients (both borrowers and lenders) in a wide range of public and private financing transactions. Our attorneys provide counsel on financings from routine deals to highly complex structures that are often beyond the capacity of conventional legal service providers. For example, our team frequently handles hybrid transactions, sometimes involving multiple classes of assets, multiple lenders with differing interests and structures that straddle corporate, commercial and private equity practices.

Our clients operate across a spectrum of industries, business types and sizes. They include private equity sponsors and their portfolio companies, banks and other financial institutions, commercial finance companies, mezzanine lenders, automotive suppliers, manufacturers, retailers, casino/gaming operators, service providers, high-tech companies and mortgage banking companies.

Members of the group include attorneys from the firm's Corporate Department and the Commercial Transactions, Private Equity, and Securities and Corporate Governance practice groups. This depth and diversity of experience influences our counsel and representation. Integral components of our process include a thorough knowledge of our client’s business and, working closely with their senior management (including chief financial officers) or loan officers, developing the appropriate financing structures most suitable for our clients’ needs. Our experience has also enabled us to maintain knowledge and familiarity with market terms and customs.

The full-service configuration of our firm allows our lawyers to draw on the knowledge and extensive experience of firm colleagues who are leading practitioners in domestic and international tax, litigation, environmental, employee benefits, health care, real estate, regulatory, gaming and intellectual property law.

Examples of our representation include the following:

  • Acquisition financing
  • Asset-based lending
  • Cross border financing
  • Debt syndication
  • Debtor-in-possession financing
  • Equipment financing and leasing
  • Interest rate and currency swaps
  • Inventory/floor-plan financing
  • Letters of credit and other credit enhancements
  • Mezzanine financing
  • Private placements of debt securities (including high-yield debt offerings and institutional private placements)
  • Revolving credit and term loan facilities
  • Sale/leaseback transactions
  • Securitizations (including lease, mortgage and receivable financings)
  • Structured finance
  • Venture capital financing
  • Mortgage warehouse financing and master repurchase arrangements

Representative Matters

  • Represented a national home builder in obtaining a $500 million unsecured term loan under a syndicated credit facility
  • Represented a tier 1 automotive supplier in obtaining a $65 million receivables purchase facility relating to its receivables from various automobile manufacturers
  • Represented a national retail mortgage and servicing company in its $1.25 billion senior unsecured note offering
  • Represented a national health care provider of business process outsourcing solutions in connection with $68 million revolving credit and term loan facilities
  • Represented a manufacturer in the beverage industry in connection with a $59 million term loan and revolving loan credit facility and a $10 million subordinated note issuance
  • Represented numerous private equity funds in their senior, mezzanine and as second lien financings in connection with more than 55 acquisitions of privately held companies during 2015
  • Represented mortgage banking clients in various financings, including mortgage warehouse facilities and master repurchase facilities, for several billion dollars in aggregate principal amount
  • Counseled numerous casino/gaming company clients in their financings, including:
    • a $635 million secured revolving credit and term loan facility
    • a financing transaction consisting of a $300 million senior secured credit facility, $380 million senior subordinated notes and $125 million furniture fixture and equipment financing
    • the issuance of senior secured notes (including a tack-on offering), senior notes and senior discount notes aggregating approximately $305 million in principal amount
    • a $275 million offering of high-yield term notes, including an exchange offer for existing notes
  • Advised an entrepreneurial company in a $160 million dividend recapitalization
  • Represented a private equity sponsor and its portfolio company in connection with the refinancing of its $150 million asset-based lending revolving credit facility and a $450 million cross-liened term debt facility
  • Represented a national home builder in obtaining a $500 million revolving line of credit under a syndicated credit facility
  • Represented a global automotive supplier in its issuance of senior notes and senior subordinated notes aggregating $455 million in principal amount; several consent solicitations were undertaken on behalf of this issuer
  • Counseled a global automotive supplier in its issuance of $200 million principal amount of subordinated notes; a consent solicitation was undertaken on behalf of this issuer
  • Counseled a public company in its $350 million term loan and $140 million ABL credit facility
  • Advised a global automotive supplier in its issuance of $200 million principal amount of subordinated notes
  • Counseled a publicly traded infrastructure company in its private placement of $100 million of senior notes
  • Represented a publicly traded information systems company in its private placement of $40.0 million of senior notes
  • Represented ABL lender in acquiring $350 million portfolio of performing loans
  • Represented agent in $125 million syndicated accounts receivable securitization
  • Represented global automotive manufacturer in developing $4 billion vendor financing program with major international lender
  • Represented lender in sale of $400 million portfolio of distressed debt
  • Represented REITs in their private placements of debt securities