USA Law and Practice Contributed by: Michael Chernick, Sara Coelho, John Chua and Josh Tryon, A&O Shearman
A&O Shearman is a global law firm with nearly 4,000 lawyers worldwide. A&O Shearman has one of the largest and most international teams of banking and finance lawyers of any global law firm and one of the leading debt finance practices in the world, known for ground-breaking deals and structures that eventually become market standards. The firm provides clients, including major banks, private credit funds and finan- cial sponsors with a full-service offering for a broad range of debt finance products for syndicated and private credit transactions, including senior, second- lien and asset-based credit facilities, mezzanine and
holdco debt, recurring revenue financings, bridge and bank/bond financings, high-yield bond offerings, securitisation take-outs, debtor-in-possession and exit financings and restructurings. The firm’s global team spans major financial centres, including New York, London, Paris, Amsterdam, Frankfurt, Milan, Madrid, Luxembourg, Singapore, Hong Kong, and Sydney, creating a cross-border network to support its clients’ success. * The authors would like to give a special thanks to Maura O’Sullivan, debt finance partner at A&O Shearman, for her contributions to this chapter.
Authors
Michael Chernick is a partner in the debt finance practice at A&O Shearman. Michael has over 30 years of experience in the US leveraged finance market, representing leading investment and commercial banks,
Sara Coelho is a partner in the financial restructuring and insolvency practice (FR&I) at A&O Shearman, and works with the finance practice on private credit, direct lending and specialty finance transactions. Her
alternative capital providers and other financial institutions in bank financing and debt capital markets transactions. He has extensive experience in public and private leveraged and investment- grade acquisition finance (including bridge financings), refinancings and recapitalisations, second-lien and asset-based lending. Michael also advises on securities, capital markets, bank finance, and corporate transactions, representing corporations and financial institutions in bank financings, public and private offerings and high- yield debt offerings.
finance experience includes acting for creditors and agents on a variety of financings for acquisition, capital refinancing and liquidity management-related purposes, as well as DIP financings and exit financings. Her FR&I practice focuses on restructuring and debtor-creditor rights. She represents debtors, creditors, acquirers, equity owners and other investors in insolvency matters, including risk mitigation and planning, distressed or reorganised company acquisitions, liability management, Chapter 11 and out-of-court restructurings and cross-border insolvencies.
John Chua is a senior associate in the debt finance practice at A&O Shearman. John represents leading financial institutions, investment funds and private equity firms (including private credit arms) in a wide range of
Josh Tryon is an associate in the debt finance practice at A&O Shearman. Joshua represents leading financial institutions and private capital providers as lenders and arrangers in a broad range of finance transactions,
financing transactions, including leveraged and investment-grade committed financings and refinancings, private capital transactions, syndicated bank loans, acquisition finance and asset-based finance. John has extensive experience advising lenders on complex cross-border financings across a variety of industries. He regularly counsels clients on the structuring, negotiation, and documentation of credit facilities in the BSL market as well as direct lending.
including complex syndicated loan transactions, acquisition and other leveraged financings, direct lending transactions, asset-backed financings, investment-grade financings and in- and out-of- court restructurings. Josh also has experience advising corporate borrowers in finance matters.
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