Putting the leverage into a leveraged buyout is the role of the debt financing specialists in Cooley's Leveraged Buyout Finance practice. All of our debt specialists have experience with both sides of the table, representing lenders as well as companies and sponsor groups. This experience is critical to understanding and meeting the objectives of the various participants; and we pride ourselves on our ability to help clients realize their objectives in these transactions.
We have substantial expertise with debt financing issues specific to many industries, including information technology, life sciences, retail and consumer, manufacturing, financial services, health care, agricultural, franchise-based businesses and other high growth businesses. And we have executed deals ranging from small, single-lender transactions to complex, multi-lender, multi-tranche financing structures approaching $2 billion. But our experience and expertise doesn't stop there. We are also adept at:
- Developing and implementing the complex debt structures that are so often necessary and involve layers of senior, subordinated and mezzanine financing
- Crafting warrant and other vehicles that enhance yield or provide other incentives consistent with the needs of the company and its sponsors
- Arranging and executing the debt transactions required for the acquisition, including cash flow and asset-backed lending techniques, Rule 144A high-yield and convertible debt offerings, private placements of senior, subordinated and mezzanine debt securities and innovative seller and vendor-financing techniques
An Integrated Approach
Our debt financing specialists are part of an integrated client team—headed by a senior member of the leveraged buyout group—with dedicated, project-specific resources at its disposal, including mergers and acquisition, tax, technology and intellectual property experts. We are particularly sensitive to working within and around the limitations often encountered by sponsor groups in dept transactions, including unrelated business taxable-income constraints. And as modifications to the debt structure become necessary, we work closely with the company and its lenders to achieve acceptable terms.
For transactions involving a target with debt restructuring needs or where a debt restructuring is necessary after the buyout transaction is complete, our team includes bankruptcy and creditors' rights attorneys who are knowledgeable in this area. Several of them have substantial debt restructuring experience, representing creditors, debtors and buyers.