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Cross-Border Facilities
The Banking, Finance and Major Projects Practice Group advises financial institutions, as well as corporations and insurers, on legal issues in connection with cross-border facilities, both secured and unsecured, and on trade-financing transactions. The practitioners within the group advise on and document lending transactions, counter-trade and barter transactions and facilities for documentary letters of credit, collections, bankers' acceptances, silent confirmations, forfeiting and credit insurance.
Representative transactions include:
- Representation of the French subsidiary of a large U.S.-based manufacturer of office furniture in connection with a $100,000,000 structured term loan facility provided by a major French bank to finance an acquisition.
- Representation of a major British communications company as borrower in connection with a $175,000,000 syndicated term loan facility led by a major French bank to finance two acquisitions.
- Representation of a major U.S. brewery as lender in connection with a $6,500,000 secured term loan facility to a local German brewery, with collateral located in Germany and five other Central European and Balkan countries.
- Representation of an international media corporation and seven of its foreign subsidiaries in connection with a syndicated credit facility secured by the assets of each foreign subsidiary and subsequently the restructuring of such corporation's subsidiaries in Japan and South Korea and the resulting restructuring of such credit facility.
- Representation of a major international technology company as lender in connection with a $100,000,000 credit facility and term loan agreement to a Brazilian company.
- Representation of a major Brazilian bank in connection with the issuance of term notes through Euroclear and/or CEDEL for the purpose of providing pre-export financing for the export of agricultural products.
- Representation of a major German corporation and various of its subsidiaries in connection with a $300,000,000 secured senior and senior subordinated credit facility by a major English financial institution for the acquisition of carious U.S.-based and European-based entities.
- Representation of the investment banking subsidiary of a major Spanish bank in connection with the restructuring of certain indebtedness guaranteed by the former central bank of the USSR.
- Representation of a German finance company in connection with an aggregate $315,000,000 term loan facility to a real estate investment trust for the acquisition by such entity of a premier building in New York City.
- Representation of a major British bank in connection with developing a master trust financing arrangement with respect to note issuances by various Latin American-based entities.
- Representation of a major Brazilian bank in connection with the sale and assignment by such bank of defaulted debt obligations of the Republic of Congo.
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