In a growing and changing leveraged finance market, Milbank’s Banking and Leveraged Finance Group brings unparalleled capabilities and experience to even the most complex financing transactions.
Our Banking and Leveraged Finance attorneys are among the most experienced and effective financing counsel in the world. Our team distinguishes itself as one of the few firms with a deep bench having the market knowledge and experience to handle both syndicated financings and private credit and direct lender financings.
The experience and scale of our Banking and Leveraged Finance Group make a powerful combination; the result is exceptional counsel and service for our clients every time. Named “Team of the Year: Banking” at the IFLR1000 United States Awards 2021 and shortlisted as “Loans Team of the Year” at the 2023 IFLR Americas Awards, we are consistently named by Chambers Global, Chambers USA, Chambers UK, Legal 500 and IFLR1000 as a top-ranked legal advisor to lead arrangers of leveraged loans. Debtwire Par, Bloomberg and Refinitiv also rank Milbank among the top legal advisers to lenders. Year after year, we see a significant increase in the number of loan transactions completed by our lawyers by deal count and volume.
Devoted to Lenders in Senior Lending Transactions—From the largest deals globally to middle-market transactions, we represent our traditional banking and direct lending clients on a broad array of senior lending and related financings, including: first and second lien loans (unitranches and syndicated term loan Bs), asset-based lending, recurring revenue loans, pro rata facilities/term loan As, bridge loans, secured and unsecured high yield bonds, mezzanine financing and preferred stock issuances, leveraged buyouts, going private transactions and other acquisition financings and leveraged recapitalizations, as well as working capital and letter of credit facilities, troubled company amendments, debtor-in-possession financings and exit financings.
First Call Acquisition Financing Counsel—Our Banking and Leveraged Finance Group possesses particular experience completing some of the biggest and most high-profile acquisition financings in recent years, representing sophisticated financial institutions and most often working across from top-tier private equity sponsors and their counsel. Lenders appreciate that our team members have the capacity, resources and experience to meet the timing and other demands required by competitive auction processes. Milbank’s role in McAfee’s take-private was recognized as “Private Equity Deal of the Year” at the IFLR Americas Awards in 2023. We also advised debt financing sources in connection with the acquisition of Medline Industries, Inc. by Blackstone Group Inc., Carlyle Group Inc. and Hellman & Friedman, noted by the Wall Street Journal to be one of the largest leveraged buyouts since the financial crisis.
Global Reach—Our international presence and acumen position us to facilitate challenging multi-jurisdictional transactions, providing flexibility to our clients and borrowers in determining capital structure, governing law and markets, pioneering techniques to meet our clients’ growing and diverse capital needs. Our New York team works seamlessly alongside loan and capital markets colleagues in London, Germany and Asia to take on the most complex cross-border financings involving public-to-private transactions in the US, UK, Asia and other jurisdictions. Select highlights include representing the financing sources on:
- private equity firm KKR’s acquisition of CIRCOR International, Inc. by a direct lending solution.
- Advent International and Warburg Pincus’ formation of Simtra BioPharma Solutions.
- Nord Anglia Education’s $2.18 billion refinancing – this was the first major European leveraged loan transaction of 2023.
- the $6.5 billion merger of BPEA EQT’s Hong Kong-based business services firms Vistra and Tricor – this was one of Asia's largest private equity-backed transactions of 2023.
- the $1.65 billion financing to support Advent International-owned NielsenIQ’s acquisition of GfK SE.
- Atotech’s complex, cross-border $1.8 billion refinancing spanning eight collateral jurisdictions and 16 jurisdictions.
- the term loan facility for global luxury fashion platform FARFETCH.
- the first-of-its-kind financing for CVC Capital Partners’ acquisition of a 30% stake in GEMS Education. Named “Debt and Equity-Linked Deal of the Year” at the IFLR Middle East Awards.
Sector Experience—We are consistently involved in the most significant finance deals across virtually every industry globally, including healthcare, technology/cybersecurity, fashion, retail, consumer goods, software, energy, space and satellites, real estate, education, gaming and hospitality, food and beverage, industrials and chemicals, insurance and more. We also work regularly with lawyers across the firm, including our Project, Energy and Infrastructure Finance and Transportation and Space teams, on matters touching those sectors.
Client Focused Approach—Our Banking and Leveraged Finance team’s collegial style, focus on knowing our clients’ institutional focuses, organization and consistency of work product are often commended by our lending clients and are at the core of our team’s approach to delivering exceptional client service. According to Chambers Global, clients report that Milbank’s “[leveraged finance team] is strong in the space” with another client noting, “I think highly of them, they are well respected.”
Recognized Authority—Group partners authored the LSTA’s Complete Credit Agreement Guide, considered an authoritative source and recognized with the Burton Award for Legal Writing; “Debt Buybacks, Serta Case and Market Reactions” in the International Law Office Banking & Financial Services newsletter published by Lexology, “A Comparative Overview of Transatlantic Intercreditor Agreements,” a chapter in The International Comparative Legal Guide: Lending & Secured Finance; The Handbook of Loan Syndications and Trading, published by LSTA; and the United States chapter in The Acquisition and Leveraged Finance Review.
“Milbank boasts a compact team of renowned finance lawyers offering in-depth market knowledge and expertise. Noted for its reputation of leading lenders, and is also adept at acting for borrowers and private equity sponsors across the whole spectrum of finance transactions. Highly regarded for its cross-border expertise on large-scale transactions, including LBOs. Notably represents companies in the energy, technology and transportation sectors.”
—Chambers Global
“The Milbank team is very sophisticated on large matters.”
—Banking & Finance client, Chambers Global
“The group understands the complexities of any issue and are careful to weigh both sides in order to find a resolution.”
—Banking & Finance client, Chambers USA
“Its practitioners are very strong and they react quickly to matters.”
—Banking & Finance client, Chambers USA
