Institutional Finance and Commercial Lending

Capital is the fuel of prosperity and growth, an indispensable resource for organizations seeking new opportunities. Facilitating the relationships and transactions between those who provide capital and those who require it is the central role of Day Pitney's Institutional Finance and Commercial Lending group.

Our lawyers help institutional lenders and investors structure, negotiate and close financial transactions of many different kinds and virtually all sizes, including private placements, secured and unsecured credit facilities, receivable-backed and other asset-based and structured finance transactions, lease transactions, real estate financings and project and acquisition financings.

We engage in transactions involving environmental due diligence, letters of credit, guarantees, LIBOR rate provisions, hedge contracts, cross border financings, junior, mezzanine and senior debt, inter-creditor arrangements, syndications and participations and tax-exempt financings.

We assist at every stage, providing strategic advice regarding transaction structures, term sheets and covenants, undertaking due diligence, participating in negotiations and documenting transactions. After closing, our clients call on us to prepare amendments and waivers, restructure transactions, assist with collection and collateral liquidation following default and providing representation in bankruptcy and insolvency proceedings.

We also provide guidance in complex workouts, liquidations and restructurings to achieve "win-win" outcomes. When other means of resolution fail, our nationally recognized commercial litigation capability protects our clients' interests.

Our experience is wide-ranging, with transactions involving parties, assets, and collateral situated throughout the United States and beyond.

Bank Financing
Our bank financing practice is extremely diverse, representing lenders in the provision of a continually evolving array of credit products and services. Credit arrangements include secured and unsecured loans, letter of credit facilities, revolving credit and term loans (including tranche B facilities), multi-borrower facilities and DIP and cash-collateral facilities and range from small single lender loans to large syndicated financings. Our attorneys are experienced at structuring complex bank deals that close on time and on budget.

We represent local, regional and national banks and their affiliates in credit transactions ranging from $5 million to more than $1 billion to borrowers in numerous industries and markets, and have particular experience in loans to or involving manufacturing companies; transportation companies, including the rail, container leasing and maritime sectors; mutual funds, insurance companies and other financial services companies; utilities and other energy-related businesses; health care companies; and intellectual property.

Structured Finance
We act as counsel to investors, issuers, investment bankers, servicers and trustees in a broad range of structured finance and securitization transactions. These transactions involve a wide variety of loans and asset classes, including domestic and foreign trade receivables, utility stranded costs, equipment leases, auto, marine and aircraft loans, credit card receivables, medical receivables, special license agreements, various types of mortgage loans, manufactured housing loans, franchise loans and portfolios of bank loans, insurance company private placements and other types of securities.

Our team has extensive experience working with rating agencies and structuring transactions, including transactions for first-time issuers and those involving new asset classes. Our involvement ranges from acting as primary drafting counsel to serving as special tax, ERISA, regulatory or bankruptcy counsel.

Lease Finance
We have a nationwide ability to represent lenders, lessors and lessees in various types of lease finance transactions, including credit tenant loans (bond and credit leases), manufacturing equipment financings (for both domestic and foreign users), transportation equipment leases (including aircraft, vessels and rail cars) and off-balance sheet transactions. A particular focus of our practice is the representation of lender groups in multi-property, multistate real estate lease finance transactions.

Our lawyers have many years of experience representing institutional lenders and assisting investment bankers and borrowers in creatively structuring transactions that achieve the tax, accounting and regulatory objectives of the parties.

Real Estate Finance
We have represented many banks and other institutions in acquisition and construction loan transactions for office, regional retail mall and strip center, hotel, resort, warehouse, industrial, golf course, multifamily residential and land development projects of all kinds throughout the United States. We have also represented clients in connection with permanent mortgage loan financings and refinancings of these projects.

Our lawyers are experienced in sale/leaseback financings, direct placements (including zero coupon bond placements) secured by credit leases and indirectly by other real estate collateral and bond financings secured by real estate collateral.

We represent clients in connection with a constantly changing array of real estate-based loan products, including construction mortgage loans, permanent and mini-perm mortgage loans (including participating, shared appreciation, real rate of return and convertible loans), credit mortgage loans, lease securitizations and open-end mortgage transactions involving revolving and multiple tranche credit facilities and letter of credit reimbursement agreements.

We have extensive experience representing single-investor and joint-venture clients in real estate equity acquisitions. We have represented clients in connection with equity investments, including sales, ranging in size from approximately $12 million to over $100 million.

Private Placements
We have extensive experience representing insurance companies and other institutional investors in private placements and Rule 144A offerings of debt and equity securities. Securities issued in these transactions have included bonds, secured and unsecured notes, mezzanine debt, common and preferred securities and purchase warrants issued by companies in a wide variety of industries, including energy, transportation, financial services and real estate finance.

Workouts & Restructuring
Productive workout and restructuring efforts rely on setting achievable business goals and working aggressively and strategically to achieve them. Our attorneys take a proactive approach that emphasizes consensus building and the pursuit of "win/win" outcomes whenever possible. When necessary, however, we are ready and able to initiate forceful litigation, both inside and outside of bankruptcy and other insolvency proceedings.

Our practice involves the representation of a wide range of regional, national and international clients including financial institutions, creditor committees, lessors, trade creditors, acquirers and trustees. In representing our clients, we can draw upon the experience of our attorneys who practice in other areas, such as intellectual property, health care, technology, tax, securities, labor and environment law. We assist our clients with out-of-court workout agreements, state and federal receivership actions, debtor-in-possession financings, issues relating to requests by debtors to use cash collateral, formation of plans of reorganization, purchases and sales of distressed debt, Section 363 sales, entity governance issues, inter-creditor subordination arrangements, valuations and the defense of preference actions and fraudulent conveyance and lender liability claims.

We have successfully restructured transactions and companies in the retail, real estate, telecommunications, airline, manufacturing, health care and energy/utilities industries. We also help our clients analyze and restructure underperforming structured finance transactions and securitizations.

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Diversity

Diversity and inclusion are core Firm values at Day Pitney. We embrace diversity because we appreciate the reality of a multicultural world and have long understood the value of input and collaboration among professionals with varying perspectives. A multicultural approach leads to broader vision, innovation and creativity. This, in turn, better equips us to provide excellent service to our clients as our focus and dedication to diversity allows the Firm to achieve meaningful, lasting and sustainable results. While we are proud of what the Firm has achieved over the years, the challenge to build on those accomplishments continues. There is still much to do. We remain committed to supporting diversity and contributing to the creation of a profession that more accurately reflects the world in which we live. We do that by encouraging and respecting varying perspectives within the Firm and in the communities in which we practice.

Day Pitney’s diversity and inclusion initiatives not only foster collaboration and mutual respect within our Firm, but also extend outward, into the communities we serve. Our attorneys are committed to enhancing and celebrating diversity in our neighborhoods. Through the Firm’s community outreach efforts, Day Pitney hopes to encourage more women and minorities to enter the legal profession.

Here is an overview of some of our recent community programs aimed at assisting individuals and organizations serving traditionally underserved populations:
  • Through the joint efforts of the Firm's Diversity Committee and Women Working Together (WWT®) program, attorneys in our Florham Park office have been working to foster a relationship with St. Vincent Academy, a college preparatory school for young women of diverse and often politically, socially and economically underrepresented cultures. The students come from various religious backgrounds. Ninety-eight percent of the students are persons of color, and ninety-five percent go on to attend college. Each year before the beginning of the school year, we conduct a back-to-school supply drive to collect donations for the students at St. Vincent. Our attorneys are also working with the school to bring law related programs to the students. 
  • Attorneys in our Hartford office regularly participate in Habitat for Humanity Programs to help socially and economically underrepresented individuals reach the dreams of homeownership. 
  • The Firm is a sponsor of the New Jersey Chapter of the American Conference on Diversity’s annual Diversity Stride, a walk aimed at raising money to fund diversity-related programs for high school students in New Jersey. 
  • All offices annually participate in the Susan G. Koman walk in order to raise money to fight breast cancer. 
  • Day Pitney attorneys have contributed funding, time and pro bono legal services to the Urban League of Greater Hartford, in furtherance of the League’s efforts to “promote the self-empowerment of individuals in the CT Capital Region to achieve educational, occupational and economic equality for themselves and their families.”
  • As a founding member of the New Jersey Law Firm Group (NJLFG), the Connecticut-based Lawyers Collaborative for Diversity (LCD), and the Boston Lawyers Group (BLG), Day Pitney actively supports each organization’s common mission of increasing diversity in the legal profession. Each year, Day Pitney attorneys volunteer to serve as mentors to minority law students through programs coordinated by these three organizations. The Firm also hosts several roundtable discussions on various topics relevant to diversity for these organizations in New Jersey, Connecticut and Massachusetts and participates in BLG and NJLFG job fairs.
In addition to the programs listed above, the Firm’s Summer Apprentices are also invited to organize community service efforts. The Summer Apprentices in each office traditionally choose a community service outreach program meaningful to them and dedicate their time to the community at-large.
 
In large part due to efforts such as these Day Pitney continues to make great strides in supporting diversity initiatives in our neighborhoods.
Day Pitney is committed to fostering an inclusive environment for people of diverse backgrounds at all levels. We continue to strive to provide challenging opportunities, meaningful guidance, and positive incentives to assist our professionals in achieving their greatest potential. In doing so, our goal is ultimately to create advantages out of our differences and to achieve richer, broader goals.
  • Day Pitney is the 2009 recipient of the Fifth Annual Edwin Archer Randolph Diversity Award from The Lawyers Collaborative for Diversity
  • Lynn Baronas, Director of Professional Development, Diversity & Legal Recruiting, nominated for the 2008 advocate of the year award by the Connecticut Minority Suppliers Diversity Council 
  • Recognition from the Urban League of Greater Hartford, Inc. as an "Urban Sponsor" in its 2007 Black History Award Celebration
  • Co-Managing Partner, Jim Sicilian, received a 2007 Human Relations Award for leadership in civic and community affairs by the National Conference for Community and Justice of Connecticut and Western Massachusetts, Inc. 
Day Pitney’s commitment to diversity extends to its recruitment efforts in connection with its summer apprenticeship program. We recruit law students for our summer programs from several minority job fairs and diversity initiatives, including the Philadelphia Area Minority Job Fair, the North East Black Law Student Association Job Fair, the Hispanic Bar Association Job Fair, the Rutgers University Newark Minority Student Program and the University of Connecticut School of Law Cultural Diversity Initiative. We are pleased to report that minority law students comprised forty-three percent of our 2008 summer class and forty-one percent of our 2007 summer class.

Day Pitney believes that diversity is not only crucial to creating a dynamic and cohesive summer apprentice class, but is also important to creating a rich and realistic professional experience for all of our summer apprentices. To that end, the summer program includes activities that expose all of our summer apprentices to a wide range of cultures and backgrounds within the Day Pitney family and in the communities where we practice.
 
For more information about diversity, please contact Edgardo Ramos, Chair of the Diversity Committee at [email protected] or Peter Wilson Jr., Director of Diversity and Legal Recruiting at [email protected]
  1. Number of Human Resources Professionals who are...

    • Non-minority Males 1
    • Minority Males 0
    • Non-minority Females 2
    • Minority Females 2
  2. Number of Finance Professionals who are...

    • Non-minority Males 7
    • Minority Males 0
    • Non-minority Females 9
    • Minority Females 6
  3. Number of Other Lawyers who are...

    • Non-minority Males 35
    • Minority Males 3
    • Non-minority Females 16
    • Minority Females 5
  4. Number of Paralegals who are...

    • Non-minority Males 18
    • Minority Males 2
    • Non-minority Females 65
    • Minority Females 3
  5. Number of Marketing Professionals who are...

    • Non-minority Males 2
    • Minority Males 0
    • Non-minority Females 9
    • Minority Females 1
  6. Number of Of Counsel who are...

    • Non-minority Males 22
    • Minority Males 0
    • Non-minority Females 0
    • Minority Females 0
  7. Number of Partners who are...

    • Non-minority Males 130
    • Minority Males 6
    • Non-minority Females 26
    • Minority Females 3
  8. Number of Administrative Professionals who are...

    • Non-minority Males 39
    • Minority Males 18
    • Non-minority Females 218
    • Minority Females 55
  9. Number of Associates who are...

    • Non-minority Males 62
    • Minority Males 13
    • Non-minority Females 57
    • Minority Females 13
  10. Number of Technology Professionals who are...

    • Non-minority Males 13
    • Minority Males 8
    • Non-minority Females 12
    • Minority Females 0
  11. Number of Librarians who are...

    • Non-minority Males 3
    • Minority Males 2
    • Non-minority Females 6
    • Minority Females 1
  12. Number of partnerships with minority owned law firms? 1

  13. Plan on partnering with minority owned law firms? Yes

  14. Number of partnerships with women owned law firms? 0

  15. Plan on partnering with women owned law firms? Yes

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