North America - United States • Finance

Wachtell, Lipton, Rosen & Katz

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Wachtell, Lipton, Rosen & Katz’s pre-eminence in borrower-side financing transactions sees it advise an impressive roster of corporate clients across the full range of industries, including investment-grade, high-yield and distressed borrowers. Working in tandem with the firm’s M&A and restructuring practices, the New York-based financing team advises on acquisition and working capital financings, distressed M&A and restructurings across the investment grade and leveraged markets. The team remains at the forefront of the market, also advising on transactions within the liability management space. Gregory Pessin is a prominent figure in the debt and financing space, and heads the practice. With a clientele of borrowers, creditors and distressed investors, Michael Benn advises on financings for M&A, spin-offs and other deals. John Sobolewski’s broad finance and restructuring practice covers syndicated and direct loans, management company financings and liability management. Focusing particularly on complex corporate transactions, Emily Johnson advises on M&A, divestiture and spin-off financings. Stephanie Marshak and Rod Ghods are other names to note.

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Key clients

  • Broadcom Inc.
  • RTX Corporation
  • 3M Company
  • Lumen Technologies, Inc.
  • Global Payments Inc.
  • Barnes Group Inc.
  • Travelport Finance (Luxembourg) S.à r.l.
  • PVH Corp.
  • Otis Worldwide Corporation
  • Mitel Networks Corporation
  • XPO, Inc.
  • The J.M. Smucker Company
  • Hexcel Corporation
  • SoFi Technologies, Inc.
  • Knife River Holding Company
  • LKQ Corporation
  • Rayonier Advanced Materials Inc.
  • Mallinckrodt plc

Work highlights

  • Represented Broadcom in its entry into $28.4bn in permanent financing to replace the $32bn in committed bridge financing previously negotiated in connection with Broadcom’s acquisition of VMware.
  • Represented XPO in a series of financing transactions to allow XPO to reinvent its capital structure, including negotiating the company’s amended ABL facility, the refinancing of its $700m secured term loan facility, and its spin-off of RXO, which included the negotiation of a new $500m unsecured five-year revolving credit facility and $100m term loan.
  • Advised Lumen Technologies in connection with a transaction support agreement, with a group of creditors holding over $7bn of the outstanding indebtedness of the company and its subsidiaries across over a dozen tranches of debt, which provides for an extension of maturities of Lumen’s and its subsidiaries’ debt instruments and commitments to provide $1.2bn of financing to Lumen through new long-term debt.

Lawyers

Next Generation Partners

Practice head

The lawyer(s) leading their teams.

Gregory E. Pessin