Creditors' Rights & Insolvency
Commercial Lending & Real Estate Finance
Babst Calland’s Commercial Lending and Real Estate Finance Group, along with our Creditors’ Rights and Insolvency Group, represents a diverse range of regional and community banks, as well as other lenders and borrowers, in a variety of commercial lending and real estate financing transactions. Our team of finance attorneys has extensive experience in structuring, negotiating, documenting and closing a broad range of commercial and real estate financing transactions, both secured and unsecured, including asset-based and cash flow financings, real estate development and construction financings, loan participations and multi-lender/multi-tranche acquisition financings. We represent lenders and borrowers in all phases of financing transactions, from the initial documentation on front-end loans, through re-financings, workouts and restructurings, as well as financings for the purchase of assets in bankruptcy sales.
Our industry experience includes chemicals, construction, distribution, health care, hotels, manufacturing, mining, oil and gas (both direct operations and operations in support of drilling), real estate acquisition and development, and restaurants.
Representative transactions include the following:
- Represented the lender in connection with the restructuring of a $21.5 million credit facility secured by mixed use real estate development. This transaction involved the implementation of an A/B Note structure, in accordance with guidance provided by bank regulatory agencies, amending and restating the loan agreement, notes, mortgages and other loan documents, as well as terminating various interest rate swap transactions.
- Represented the lender in connection with a $3.8 million credit facility to a chain of out-patient vein treatment clinics. This transaction involved a revolving credit working capital facility and a multiple, delayed-draw term loan facility for the purchase of equipment.
- Represented the lender in connection with a $4.25 million credit facility to a manufacturer of plastic molds for the automotive, electronics, aerospace, telecommunications and disposable medical supply industries. The transaction involved a revolving line of credit and a term loan.
- Represented the lender in connection with a $2.0 million revolving credit facility extended to the purchaser of an electric and telecommunications line construction company. The transaction involved competitive bidding in a Bankruptcy Code Section 363 sale context, and the assumption, cure and assignment of various key executory contracts.
- Represented the lender in connection with a $9.6 million sale under Article 9 of the UCC of the assets associated with a manufactured home business.
- This transaction involved identifying and notifying all appropriate creditors, deeds in lieu of foreclosure, the purchase and sale by the secured lender of non-Article 9 assets in exchange for forgiveness of a portion of the deficiency, successor liability issues and seller financing secured by equipment and real estate.
- Served as Pennsylvania counsel to a coal company in securing $835 million credit facility and subsequent amendments.
- Representation as Pennsylvania counsel to a radio broadcast and publishing company in a $330 million credit facility.
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