Banking & Finance
CondonBusiness’s Banking & Finance group represents commercial banks and financial institutions from all over the world. We counsel on sophisticated commercial lending and financing matters, in addition to compliance and regulatory issues. Our long standing clients return to our attorneys again and again to manage their most complicated financial transactions because we have established a strong reputation for managing risk, containing costs, resolving disputes, and managing the highly technical and complex processes involved.
We work with both American and foreign banks in commercial lending, refinancing, and real estate transactions, as well as loan restructuring. Our expertise encompasses asset based lending agreements, development of loan documentation, commitment letters, multinational syndicate lending, and letters of credit. Representing both borrowers and lenders, we structure and execute secured and unsecured corporate and real estate mortgage loans, term and revolving credit facilities, acquisitions, and complex project financing like syndicated and participatory loans, in addition to negotiating venture capital, subordination and intercreditor agreements, managing problem loans and workout situations, and handling enforcement proceedings.
Our clientele includes a large number of domestic and international banking institutions. We also have an extensive global network of clients, co-counsel, and contacts in Asia, the Middle East, South America, and the Caribbean.
Representative Transactions:
- Representation of a manufacturing company in refinancing its external debt through three new loan facilities totaling $95M including an asset based revolving credit/line of credit facility from a commercial lender, a real estate term mortgage loan facility and a private placement secured loan facility from an insurance company group led by Hancock.
- Representation of bank lenders in construction and building loan facilities to fund development of a pharmaceutical facility on Long Island and a resort development in upstate New York, including review of N.Y. “PILOT” program documentation under which land title is held by a governmental agency.
- Representation of bank lenders in numerous commercial loan facilities with corporate borrowers, typically in the $5M to $1B range, for borrowers’ business and working capital purposes, generally including term loan, revolving credit and letter of credit availability.
- Representation of bank lenders in construction loan facilities to fund development of a private school building in Chicago and a manufacturing plant in Mexico, and a loan facility to fund the acquisition and development of coal mining properties in West Virginia, including working with local counsel to provide for mortgage lien priority under applicable law.
- Representation of bank in issuing $10M letter of credit facility on behalf of a Chilean client.
- Representation of a foreign bank in successfully obtaining prompt regulatory approvals to establish a branch in New York, including meetings with staff of the Federal Reserve Board New York Office and New York State Department of Financial Services, drafting formal applications and responses to follow up inquiries.
- Representation of developers, commercial property owners and high net worth individuals in acquisition, construction, permanent, mezzanine and take-out financing involving loans between $5M and $125M
- Representation of bank in $75M accounts receivable purchase (factoring) facility with a pharmaceutical company client.
- Advising bank client on developing a strategy to upgrade its sanctions compliance procedures.