John Ventola, Kevin Simard, Jim Kane, Lyman Bullard, Brewster Lee, Andy Hickey
Pete Palladino, Doug Gooding
Choate represented the Junior Capital division of Wells Fargo Capital Finance in connection with a $100 million term loan to national electronics retailer RadioShack, as part of the company’s strategy to refinance debt. The loan was secured by all assets of RadioShack, with Wells Fargo having a first lien on RadioShack’s intellectual property, equipment and certain owned real estate.
- toggleAndrew Hickey Recognized by The M&A Advisor
Andrew Hickey was named a Finalist for the Eastern Region in The M&A Advisor’s third annual 40 Under 40 Recognition Awards, which honor emerging business leaders across the industry. Read more…
Choate represented GA Capital, LLC in its capacity as Term Agent for a syndicate of lenders which provided a $85 million term loan to Borders, Inc. and its various US and UK subsidiaries. Subsequently, Choate represented GA Capital in connection with a $55 million debtor-in-possession term loan to Borders and its subsidiaries. Borders used the DIP facility to fund its initial operations during the commencement of its Chapter 11 proceeding. Choate represented GA Capital and the term lenders throughout the bankruptcy proceeding of Borders, including in connection with the liquidation and wind down of the company and assets and operations.
Choate represented a syndicate of banks agented by Bank of America in connection with $250 million of revolving credit facilities for Clean Harbors, Inc., the largest hazardous waste disposal company in North America. For tax purposes, the deal was structured such that the US and Canadian affiliates of Clean Harbors each had separate borrowing bases. The loans to the US entities were secured by a first lien on all of their accounts receivable, a second lien on all other personal property and second lien mortgages on 11 separate properties owned by Clean Harbors throughout the US. The loans to the Canadian entities were secured by a first lien on all of their accounts receivable.
Choate represented a national private investment firm in connection with a $265 million leveraged buyout of an international manufacturing company. The acquisition was financed in part by a $150 million syndicated senior secured term loan and revolving credit facility, a $45 million mezzanine facility and by the sale to management and institutional investors of senior subordinated notes in the amount of $27 million. Choate went on to represent the target company in securing stand-alone financing for its Chinese subsidiary.
Choate represents a syndicate banks agented by Bank of America in connection with $1.4 billion of revolving and term credit facilities established by the Office of the Commissioner of Baseball on behalf of 20 participating Major League Baseball Clubs. Each Club did a true sale of its rights to National Media Revenues, MLB Properties distributions and MLB Advanced Media distributions to a special purpose entity that borrows the funds. The firm has been counsel to the agent for these facilities since 1995.
"an assembly of very practical and reasonable attorneys who can handle everything – you can’t go wrong with them … they offer their clients a real partnership and have fantastic industry expertise"
Leader in Sophisticated Financial Transactions
Represent leading financial institutions, institutional investors, borrowers and issuers in full range of financings, including senior syndicated, second lien, mezzanine/subordinated, club and single-lender facilities, and debtor-in-possession.
Commitments in excess of $20 billion.
Highly experienced in complex finance and restructuring transactions, including:
- $1 billion Major League Baseball league-wide credit facility.
- $340 million senior secured credit facility for catalog and online sporting goods retailer.
- $165 million Florida Marlins ballpark construction financing.
- $300 million senior secured revolving credit facility for national auto parts chain.
- $55 million debtor-in-possession term loan credit facility to Borders book store chain.
- $100 million senior secured credit facility for global piano manufacturer.
Financial transactions across US and in 27 foreign countries.
Over 25 lawyers representing major financial institutions in complex deals. Lawyers throughout practice areas consistently receive national recognition for excellence.
National banks and other lending institutions; insurance companies; mezzanine funds; alternative investors; securitization, retail, project and acquisition financings; private equity funds; and borrowers/issuers.
Experts in wide range of industry financings including in energy, healthcare, media, retail, sports and technology. Nationally recognized as one of the leading practices of its kind by US News & World Report.
Bankruptcy & Restructuring Expertise
Restructuring and bankruptcy expertise in and out of court representing all classes of creditors and equity holders as well as distressed companies and boards of directors.
Leading US Law Firm
One of nation’s leading law firms for over a century.