Finance

Duane Morris' Finance Practice Group is comprised of lawyers who represent a diverse range of clients that share one common goal — to conduct their financial transactions in the most economically advantageous way possible. The members of the practice work together and independently to help clients in their continuing efforts toward increasing efficiency and profitability.

Affordable Housing

Commercial Finance

Corporate Finance

Derivatives

Municipal Finance

Structured Finance

Duane Morris represents clients across the nation and around the world. The expansive geographic footprint created by our offices in major markets is further enhanced by our many attorneys who are qualified to practice in jurisdictions throughout Europe, Asia, Africa and Australia.

Representative Matters

Commercial Finance

  • Represented The Bon-Ton Stores, Inc. (NASDAQ: BONT) in comprehensive $1.8 billion financing of the acquisition of assets comprising 140 stores from Saks Incorporated, which included $1 billion in senior secured debt, $510 million in notes issued under Rule 144A, and $260 million in real-estate-backed securities.
  • Represented Quanta Services, Inc. (NYSE: PWR) in negotiating and documenting an amended and restated credit agreement with a syndicate of lenders increasing the capacity under the senior secured revolving credit facility from $700 million to $1.325 billion, adding certain U.S. and foreign subsidiaries as co-borrowers and providing for up to $400 million in loans in certain non-U.S. currencies.
  • Acted as Special U.S. Gaming Regulatory Counsel to UBS AG, Stamford Branch in connection with a $1.3 billion syndicated loan to a gaming equipment manufacturer to fund an acquisition.
  • Represented Alestra, S.A. de C.V. in connection with its $850 million project financing from a multilender syndicate.
  • Advising the syndicate of lenders, led by HSBC and Mizuho Bank, and export credit agencies (including KEXIM) on the $795 million financing of the Petro Vietnam Thai Binh 2 $1.65 billion power plant.
  • Represented The Jones Financial Companies, L.L.L.P., (parent of Edward Jones Companies) in closing a $500 million syndicated financing.
  • Represented Balchem Corporation in a $450 million syndicated credit facility.
  • Represented Koch Foods Incorporated in closing a $450 million loan transaction that involved 28 parcels of real estate in Ohio, Illinois, Tennessee, Alabama, Georgia and Mississippi.
  • Represented Terra-Gen Power in connection with the approximately $400 million construction and term financing for the first 150 MW phase of Terra-Gen's Alta Wind Energy Center.
  • Represented The Jones Financial Companies, parent of Edward Jones, in a $320 million revolving line of credit, including an accordion feature, provided by a multibank syndicate.
  • Represented Diamond Offshore Drilling, Inc. as borrower in connection with a $285 million revolving credit agreement.
  • Represented Atalanta Corporation and certain of its affiliates in a $250 million syndicated, secured revolving credit facility (which included a $50 million accordion feature) extended by Citibank, TD Bank and certain other lenders.
  • Represented Recovery Centers of America in a $231 million debt and equity financing for a multi-state rehabilitation center business.
  • Represented the Overseas Private Investment Corporation in a $230 million loan for the construction of the 141 MW Luz Del Norte photovoltaic solar facility in Chile.
  • Represented VOXX International Corporation in senior secured credit facilities in an aggregate amount of $200 million, consisting of a revolving credit facility of $200 million, with a $30 million multicurrency revolving credit facility sublimit, a $25 million sublimit for Letters of Credit and a $10 million sublimit for Swingline Loans.
  • Represented Audiovox Corp. in its acquisition of Klipsch Group, Inc. for $166 million, plus related transaction fees and expenses. The transaction was financed through a combination of existing Audiovox cash and a new $175 million asset-based revolving credit facility led by Wells Fargo Capital Finance.
  • Represented Hill International Inc., a global leader in managing construction risk, in a $165 million debt refinancing transaction.
  • Acted as special gaming counsel to Golden Gaming in its merger with Lakes Entertainment, and the related $160 million refinancing of the merged companies, to form Golden Entertainment, Inc. (NASDAQ: GDEN).
  • Closed on behalf of Banco do Estado do Rio Grande do Sul S.A., Cayman Islands Branch, as borrower, a $150 million secured credit facility provided by Credit Suisse Brazil (Bahamas) Limited.
  • Represented The Private Bank and Trust Company as agent and lead lender in a $115 million syndicated acquisition financing to a multi-borrower group located in three states in the assisted living and skilled nursing business.
  • Advised a subsidiary of Chip Eng Seng Corporation Ltd. in respect of a S$106.5 million loan facility from DBS Bank Ltd.
  • Represented NYX Gaming Group Limited in a $105 million financing, with the net proceeds from the offering, as well as a concurrent U.S. Private Placement, being used to fund a previously announced acquisition of all the shares of Amaya (Alberta) (f/k/a Chartwell Technology) and Cryptologic Limited.
  • Represented Empire Petroleum in the $100 million increase of its credit facility from Regions Bank. Negotiated an amendment to a loan agreement, fulfilled numerous real property collateral requirements and issued various legal opinions.
  • Represented Iroko Pharmaceuticals in connection with a cross-border $90 million debt financing.
  • Represented Shelbourne Capital LLC in its new joint venture with Red Lion Hotels Corporation, a Spokane, Washington-based public company, involving the $100 million acquisition, $80 million equity and debt financing and a capital improvement program for twelve hotels located in Washington, California, Oregon, Idaho and Utah.
  • Represented Bank Rakyat Indonesia in an $80 million term loan and revolver to a global Indonesian company in the wood and pulp business for the purpose of constructing a tissue paper factory in Maine and working capital.
  • Represented Hill International in raising $75 million in gross proceeds ($71.5 million net) in a four-year, second lien term loan pursuant to a credit agreement entered into with funds managed by Tennenbaum Capital Partners, LLC. The company also amended its $100 million senior credit facility with a consortium of banks.
  • Represented Citibank, N.A., in the upsizing of a syndicated credit facility extended by it, Sumitomo Bank and Citibank National Bank to Golden Pear Funding LLC, from $50 million to $60 million.
  • Represented CTL Capital, LLC, a prominent placement agent, in a $53 million U.S. Government credit-lease backed permanent loan financing of a Veteran's Administration Outpatient Clinic in Green Bay, Wisconsin.


Public Finance

  • Appointed by the Commonwealth of Pennsylvania to be co-underwriters' counsel for $3 billion in Pennsylvania unemployment compensation bonds.
  • Represented the City of Chicago as disclosure counsel in connection with the issuance of $1,073,360,000 City of Chicago General Obligation Bonds, Series 2015A and Taxable Series 2015B. The proceeds of the bonds were used to repay short term borrowing, fund the cost of terminating a rapid transit sale/leaseback and reimburse the cost of terminating an interest rate swap associated with sales tax revenue bonds. Morgan Stanley & Co. LLC was the lead manager for the underwriting syndicate.
  • Represents the City of Chicago as disclosure counsel for the city's general obligation municipal bond offerings. Advised the city on over $1 billion of general obligation bond issues in 2014. As disclosure counsel, assists the city in preparing market disclosure and investor roadshows and in addressing the city's challenges with respect to credit rating, budgetary and debt structuring issues.
  • Represented the underwriting group of Siebert Brandford Shank & Co., LLC, Cabrera Capital Markets, LLC, Estrada Hinojosa, Grigsby & Associates, Inc. and Loop Capital Markets, LLC, all minority-owned investment banks, in the $850 million issue of City of Chicago General Obligation Bonds, Series 2009.
  • Represented the City of Chicago as disclosure counsel in connection with the issuance of $833.42 million City of Chicago General Obligation Bonds, Project and Refunding Series 2014A and 2014B. The proceeds of the bonds are being used to pay for capital projects, equipment and infrastructure improvements, and to refund and restructure existing debt. The offering is the largest general obligation bond offering ever by the City of Chicago. Wells Fargo Securities was the lead manager for the underwriting syndicate.
  • Represented BMO Capital Markets in $416 million City of Chicago General Obligation Bonds, Series 2011.
  • Represented Siebert Brandford Shank in the sale of $399 million City of Chicago Second Lien Water Revenue Bonds, Series 2012.
  • Represented the City of Chicago as co-disclosure counsel in a reoffering of $193 million of the City's general obligation bonds.
  • Represented Wachovia Bank, National Association as letter of credit provider in $121.4 million variable rate tax-exempt revenue bond refinancing by Memorial Hermann Healthcare System
  • Served as underwriters' counsel to a syndicate of investment banks represented by RBC Capital Markets in connection with the offering by the Pennsylvania Turnpike Commission of $108,708,400.80 of its Turnpike Subordinate Revenue Bonds, Series B of 2013 and $101,731,401.80 of its Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Bonds, Series B of 2013. The Commission used the proceeds of the 2013 Series B Bonds together with an equity contribution by the Commission to finance the cost of (i) making payments to the Pennsylvania Department of Transportation ("PennDOT") in accordance with Act 44 to fund certain grants to mass transit agencies, (ii) funding any necessary deposit to a Debt Service Reserve Fund under a Subordinate Indenture in respect of the 2013B Subordinate Revenue Bonds and (iii) issuing the 2013B Subordinate Revenue Bonds. The Commission used the proceeds of the 2013 MLF Bonds to provide funds to finance the costs of (i) making payments to the PennDOT in accordance with Act 44 to fund various road, highway, bridge and capital projects, (ii) funding a deposit to a Special Revenue Bonds Funded Debt Service Sub-Account and (iii) issuing the 2013B MLF Subordinate Special Revenue Bonds.
  • Served as co-underwriter's counsel to a syndicate of investment banks represented by Jefferies LLC in connection with a public offering by the Philadelphia Municipal Authority of $85.05 million of its City Agreement Revenue Refunding Bonds, 2013 Series A. The proceeds of the 2013 Bonds were used to finance the refunding of a portion of the Authority's Lease Revenue Refunding Bonds, 2003 Series B.
  • Closed on behalf of CTL Capital, LLC, a prominent placement agent, a $85 million bond financing of an electric-generating facility for the U.S. government in Fort Detrick, Maryland.
  • Represented Cabrera Capital Markets in $75 million Board of Education of the City of Chicago Unlimited Tax General Obligation Refunding Bonds (Dedicated Revenues), Series 2009D.
  • Counsel to Natixis, a major French bank, in connection with the underwriting of $70 million in revenue bonds to finance a port for the shipment of chemicals in Louisiana.
  • Represented BMO Capital Markets in $65 million South Dakota Board of Regents Housing and Auxiliary Facilities System Revenue Bonds, Series 2011.
  • Represented BMO Capital Markets as underwriter's counsel in the sale of $63.48 million in auxiliary facilities system revenue bonds for the South Dakota Board of Regents.
  • Underwriter's counsel to Jefferies LLC in connection with the issuance of $48,585,000 Virgin Islands Port Authority Marine Revenue Refunding Bonds, Series 2014A, Series 2014B and Series 2014C. The proceeds of the bond are being used, among other things, to finance certain marine-related capital finance projects.

 

Locations (1)

People (884)

Peer Reviews

  • 4.9/5.0 511 reviews
  • Legal Knowledge

    4.9/5.0
  • Analytical Capability

    4.9/5.0
  • Judgment

    4.9/5.0
  • Communication

    4.9/5.0
  • Legal Experience

    4.9/5.0

See All 99 Reviews See All 99 Reviewed Attorneys »


*Attorneys who only have peer reviews prior to April 15, 2008 are not displayed.

Client Reviews

  • 4.6/5.0 52 reviews
  • 90% client recommended 47 recommendations
  • Communication

    4.6/5.0
  • Responsiveness

    4.6/5.0
  • Quality of Service

    4.5/5.0
  • Value for Money

    4.5/5.0

See All 52 Reviews See All » Write a Review

Disclaimer

Documents ({{amountArticles}})

Documents by this Organization on Martindale.com
Other documents: ,

Diversity

"In my discussions with Duane Morris leaders, they frequently speak about how diversity within their firm has enabled them to better serve their diverse clients. They understand that investing in diversity is a wise business decision that positions them for the marketplace of the future."

Don Liu
Senior VP, General Counsel & Corporate Secretary
Xerox Corporation

At Duane Morris, achieving diversity is paradoxical. By supporting and celebrating the differences of our attorneys - and the individual strengths that they bring - our firm culture expands, fostering creative solutions for our clients. But diversity at Duane Morris does not mean that we have a certain number of diverse attorneys; true diversity means that it is no longer noteworthy to see diverse lawyers leading our practice groups or managing client relationships. Ascending to positions of leadership and greater responsibility and providing the highest levels of client service is simply what is expected of all our lawyers. Diversity is another strong asset that adds to our collective abilities to meet the needs of our clients.

Our vision of diversity at Duane Morris is to realize an environment in which our lawyers' outstanding qualities are not just measured by ethnicity, race, gender and sexual orientation, but more importantly, that our lawyers are remarkable as excellent attorneys above all else. Only then can we celebrate our differences while focusing on the common pursuit of legal excellence which everyone shares at Duane Morris.

To reach this goal, Duane Morris understands that the familiar diversity strategies and policies that most law firms have are needed. Without demanding results from such policies, most law firms are bound to fail in even achieving numerical hiring and retention goals. Duane Morris has been proactive and ambitious in its efforts to improve diversity at the firm, and has set deadlines for reaching the milestones which mark our progress. To create a more diverse law firm, Duane Morris is:

  • Committed to strategically increasing our diversity levels, which is currently at 10 percent.
  • Bringing together our Diversity Committee and our Hiring and Retention Committee to raise diversity as an important factor in our hiring decisions.
  • Dedicated to improving retention by building upon our monitoring and mentoring program for all diverse associates.

Combining new initiatives with our longstanding diversity efforts, Duane Morris has seen increasingly positive results. In the Minority Law Journal's annual diversity survey of the nation's largest 260 firms, Duane Morris continued to improve its regional and national ranking, rising to number 136 of all firms surveyed. Our strides in Philadelphia are encouraging; in a city known for both the racial diversity of its population and the lack thereof in its law firms, Duane Morris is one of only two law firms to exceed the national average of minority partners at all law firms. Additionally, Duane Morris leads all national law firms based in Philadelphia in the number of Latino partners. Nearly 30 percent of all of our attorneys are women, and more than 20 percent of our partners are women.

In our approach to diversity, progress in racial, gender and cultural diversity cannot be measured in numbers alone. Duane Morris has focused our diversity initiatives on both increasing the number of diverse associates and addressing the challenges diverse attorneys face in building lasting careers and rising to senior and leadership positions. While several of our key practice groups are led by diverse partners and female partners, Duane Morris endeavors to create a culture which will foster a deep pool of such attorneys who can then develop into the firm's future leaders. Duane Morris understands that simply hiring diverse associates will not change the diversity of the firm; Duane Morris is working to mentor and retain diverse associates so that our progress in racial, gender and cultural diversity is also reflected at the highest levels of leadership within the firm.

Our progress on gender diversity has been profound. We have no glass ceilings: women hold positions of leadership at all levels of management at the firm. Women lead a number of our key practice groups, including our Energy, Immigration and International practices, and serve on the firm's Executive Committee. The success of our female attorneys at Duane Morris has not gone unnoticed. Barbara Adams was chair of the firm's Finance Practice until her appointment by Pennsylvania Governor Edward Rendell to serve as General Counsel of the Commonwealth. In 2004, our longtime General Counsel, Gene E.K. Pratter, was approved by the United States Senate and is now a judge for the U.S. District Court for the Eastern District of Pennsylvania.

Our efforts to improve diversity extend beyond our firm's walls. The chair of our Diversity Committee, Nolan N. Atkinson, Jr., recognized the lack of diversity in Philadelphia's legal community and formed the Philadelphia Diversity Law Group. Nolan now serves as the chair of the organization, a consortium of 25 law firms and corporations that commits to employing at least one diverse first-year law student each as a summer associate. From this program, law students of diverse backgrounds gain access to what was once an exclusive legal community, and now have the opportunity to learn and develop their legal careers with experience at Philadelphia's top law firms.

In addition to our involvement in the Philadelphia area, Duane Morris has increased our presence at national conferences and events focused on diversity. We sponsor the Hispanic National Bar Association and its job fair. Duane Morris is also a longtime supporter and sponsor of the Equality Forum, a national gay and lesbian rights organization. Duane Morris continues to sponsor the Minority Corporate Counsel Association, and is active in other associations of diverse attorneys including: the Asian American Bar Association of the Delaware Valley; the Charles Houston Bar Association; Cuban Bar Association; Korean American Lawyers Association; National American Indian Housing Counsel and the National Bar Association.

The challenge of improving gender, ethnic and cultural diversity at Duane Morris is an ongoing effort that has the support of the entire firm. Duane Morris has been at the vanguard in supporting gender diversity throughout the firm beginning a generation ago. Our diversity programs are leading to similar success in improving racial and national origin diversity at Duane Morris. But even as we share these examples of Duane Morris attorneys and our involvement in numerous legal events, associations and programs for diversity, our hope is that such examples will no longer be necessary to mention in the future. We hope that through our efforts, and the efforts of other law firms, these stories become so common that they are no longer the remarkable accomplishments they are today, but simply routine aspects of the legal world tomorrow.