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Finance

Contact

Mark N. Lessard
Partner, New York
T: +1.212.858.1564
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Areas of Focus

Recognized among the leading financial services practices in the U.S., Pillsbury’s finance team counsels over 200 financial institutions, including many of the world’s largest banks and alternative finance providers. 

Combining in-depth industry and regulatory knowledge with finance skills, Pillsbury finance lawyers structure, negotiate and document complex domestic and international transactions. We help financial services providers and users manage risk; navigate business, legal and regulatory challenges; leverage opportunities and get deals done. Our team advises on all types of secured and unsecured financings, from initial issuance through repayment. With decades of experience, we have handled the full spectrum of legal and business issues that impact financing and investment transactions in all industries, enabling us to anticipate problems and devise cost-effective, innovative financing solutions that meet our clients’ needs.

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Our finance lawyers represent domestic and international banks and other financial institutions, insurance companies, investment funds, and public and private corporate borrowers on regulatory matters and financial transactions, including:

Representative Experience

  • Represented the agent and lead arranger on a $4.8 billion Term A, Term and revolving credit facility for a leading American media and telecommunications company.
  • Advised BNP Paribas, Goldman Sachs and DVB Capital Markets as joint bookrunners in the securitization of 20 aircraft valued at over $814 million.
  • Represented JX Nippon Oil & Gas Exploration Corporation in its project financing of the $1 billion JBIC-financed carbon capture and storage project.

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  • Bank & Leveraged Finance
    • Represented Sinclair in connection with its indirect subsidiary Diamond Sports Group, LLC, obtaining senior secured credit facilities in the aggregate principal amount of $3,950 million and comprising a $3,300 million term loan facility and a $650 million revolving credit facility. Proceeds from the term loan were used to partially finance the acquisition of the equity interests in 21 Region Sports Networks and Fox College Sports, which were acquired by Disney in its acquisition of Twenty-First Century Fox, Inc.
    • Advised Citi as lead arranger and bookrunner as well as administrative agent, collateral agent and issuing bank with joint bookrunner JPMorgan, and joint arrangers JPMorgan, Barclays, Credit Suisse and Deutsche Bank in providing a $1.35 billion revolving credit, Term A Loan and Term B Loan syndicated loan facility for Digicel International Finance Limited.
    • Advised lead arrangers, an administrative agent and a collateral agent on a $2.2 billion senior secured financing for recapitalization of a media and entertainment company.
    • Counseled PETCO Animal Supplies Inc. as a borrower in a $1.5 billion senior secured credit facilities.
  • Project Finance
    • Energy
      • Represented NextEra on a deal worth $1 billion, including debt, for acquisition of an underwater electric cable transmission business and facilities in the United States.
      • Represented Tenaska Pennsylvania Partners, LLC in connection with the $780 million project financing of its 928 MW gas-fired combined-cycle generating facility in Westmoreland County, Pennsylvania. Advised Marubeni in connection with the Atlantic Wind Connection, a multibillion-dollar project to build an underwater transmission line along 350 miles of the Atlantic seaboard.
      • Advised on the world’s largest nuclear deal, launching the United Arab Emirates’ nuclear power industry, including a $20 billion contract to construct four 1,400 MW nuclear plants.
    • Infrastructure/P3
      •  Advised the San Francisco Bay Area Rapid Transit District (BART) on rail transit and transit-oriented development, including energy service contracts and P3 transactions in California.
      • Represented the lenders to the Meridiam-led consortium that was awarded the DBFOM contract for the $490 million, 535,000-square-foot Governor George Deukmejian Courthouse in Long Beach, California.
      • Counseled developer on a $2.5 billion P3 in Washington, DC, The Wharf, is the culmination of more than seven years of work by Pillsbury with client Hoffman-Madison Waterfront. The 3.2-million-square-foot waterfront development along the Potomac River has turned some 24 acres of land and more than 50 acres of water into a mix of residential, retail, office, public pier and park, and other uses.
  • Asset Finance
    • Represented Ethiopian flag carrier Ethiopian Airlines in connection with four separate Aircraft Finance Insurance Consortium (AFIC) supported financings, including Ethiopian Airlines’ first ever AFIC financing, which involved both a senior and a junior loan facility for the financing of five Boeing 737-8 aircraft as well as separate facilities for three Boeing 777 freighter aircraft. These transactions were recognized by Airfinance Journal as 2018 Middle East & Africa Deal of the Year; by Global Transport Finance as 2018 AFIC Deal of the Year for Africa; and by Airline Economics as 2018 Overall Supported Finance Deal of the Year.
    • Advised Turkish Airlines on the world’s first Japanese yen-denominated Enhanced Equipment Trust Certificate transaction. Awarded 2015 Capital Markets EETC Deal of the Year by Airfinance Journal.
    • Represented airlines in more than 30 countries on the purchase, sale or financing of US$6 billion of aircraft.
    • Counseled Etihad Airways regarding its commercial debt, export credit (including European ECA and Ex-Im) financing, capital markets Ex-Im Bank-guaranteed refinancing and Islamic financing of Airbus and Boeing aircraft.
    • Acted for Citibank N.A. in the U.S. Ex-Im Bank-supported financing of Boeing 777-200ER aircraft, named Deal of the Year by both Global Trade Review and Trade Finance magazines.

Practice Area Highlights

  • Awarded Global Aviation Law Firm of the Year at the Airline Economics 2020 Aviation 100 Awards.
  • Ranked in U.S. News - Best Lawyers Best Law Firms for Banking and Finance Law – Nationwide (2021 – 2025).
  • Nationally ranked by Chambers USA: Aviation Finance, Corporate M&A, Investment Funds, Venture Capital and International Trade.

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  • Received more than a dozen Deal of the Year awards for energy and project finance transactions since 2002, including projects in North America, Europe, Latin America and Asia.
  • Assisted clients in financing or refinancing of more than 1,600 commercial and corporate jet aircraft with an aggregate value exceeding $75 billion.
  • Received numerous Top 20 Rankings in Finance League Tables.

Resources

The Pillsbury Industry Insights Podcast

2021 U.S. News-Best Lawyers Best Law Firms

90 tier 1 practice rankings in the U.S. News – Best Lawyers 2021 Best Law Firms survey.

Chambers USA 2021

Chambers USA again lauds Pillsbury, ranking 43 practices and 92 individual lawyers in 2021.

Inflight Audio: A Pillsbury Podcast

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