Our attorneys realize that in the current credit market environment, it may be time to retreat to the old, stricter lending standards, but with the benefit of new innovation. Our Asset-Based Lending Team has a wealth of experience in navigating a broad range of lenders through all conceivable market conditions—from the frothy leveraged acquisition market of the mid-2000's to a credit market that requires stricter adherence to underlying asset values. Each member of our team has a keen understanding of what these changing markets mean and the effect these changes will have on future lending practices. Our dedicated Asset-Based Lending Team has represented lenders and financial institutions in a tremendous number of debt financing transactions and has developed the know-how to both structure a deal that will withstand the pressures of a restructuring or an insolvency proceeding, as well as the ability to guide a lender through the often complex chapter 7 or 11 process.
Bracewell & Giuliani has a wealth of experience in structuring asset-based lending transactions, creating and perfecting security interests in real and personal property in both the U.S. and internationally, working out and restructuring problem credits and enforcing creditors’ remedies. The firm represents both traditional (banks and commercial finance companies) and non-traditional (private investment funds, hedge funds) financial institutions in negotiating and structuring these transactions. We also have a wealth of experience with "second lien" and "last out/B loan" structures (as well as the often complex intercreditor arrangements that arise in these transactions). In fact, several of the firm's attorneys have seen first-hand the evolution of the second lien market from a sparsely-used last-out component of a tough asset-based lending transaction, to a more commonly-used critical piece of a company's capital structure. In addition, the firm's attorneys have considerable experience in negotiating, documenting, and analyzing debtor-in-possession financings, and navigating the waters of the chapter 11 process for the DIP financing lender in connection with a chapter 11 debtor's reorganization process.
The firm’s asset-based lending attorneys are highly skilled in identifying, analyzing and resolving bankruptcy, tax and environmental law issues. The firm has a great deal of experience in documenting transactions with challenging collateral categories, including the specialized issues associated with intellectual property collateral. The firm’s attorneys are well versed in the intricacies of revised Article 9 of the Uniform Commercial Code and can guide clients through its new issues and procedures. The firm’s asset-based lending attorneys understand the business objectives of asset-based lending, which serves to enhance the value of our representation.
Bracewell & Giuliani has completed asset-based lending transactions in numerous industries including oil and gas, advertising, apparel, electronics, oilfield services, finance, healthcare, insurance, manufacturing, media, real estate, retail, automotive, software, telecommunications, agricultural and food products, forest products, and transportation.