The Goulston & Storrs Banking & Finance group represents a wide range of financing sources in senior debt and capital markets transactions, including national banks, finance companies, insurance companies and sponsors. Our group gets deals done by finding creative and practical solutions to complex financing scenarios. Building on a strong understanding of the regulatory and loan syndication framework in which lenders operate, our attorneys draw upon the abilities of our corporate, real estate, securities, tax and distressed debt groups, incorporating their expertise as needed to bring maximum value to our clients. Chambers USA refers to the Banking & Finance group as "a practical and hard-working team that does well. The group is a presence in the market... enabling it to represent international financial institutions... and competes successfully with other, much larger firms. They have the legal knowledge and expertise that you expect, but they deliver it with great service and a personal touch.”
We assist our clients in the areas of:
- Agency and participation issues
- Asset-based loans
- Debtor-in-possession financing
- Cross-border transactions and complex non-US collateral arrangements
- Equity classes and rights
- Intercreditor arrangements
- Leveraged buyout and recap transactions
- Loan portfolio services
- Private bank lending
- Structured finance transactions including credit-linked notes, synthetic and prefunded letters of credit and forward share purchase contracts
- Subordinated and second-lien debt
- Abacus Finance Group
- Audax Management Company
- Bank of America
- Capital One
- Churchill Financial
- Goldman Sachs
- HSBC Bank USA
- JPMorgan Chase
- Citizens Bank
- Wells Fargo Foothill
Representative Projects and Transactions
- Representation of Bank of America, as agent bank for a syndicate of lenders in a recast of a $900,000,000 revolver and term loan facility to a private REIT (Franklin Street Properties Corp).
- Representation of JPMorgan Chase Bank, N.A. as agent bank for a syndicate of lenders in a $190,000,000 senior term facility and $50,000,000 mezzanine term facility to One Channel Center LLC covering the State Street Bank headquarters building in the Seaport area in Boston, MA.
- Representation of JPMorgan Chase Bank, N.A. as agent bank for a syndicate of lenders in a $175,000,000 term and renovation facility covering the Granada Highlands Apartments in Malden, MA.
- Representation of JPMorgan Chase as Agent Bank for a syndicate of lenders in the $525 million financing of the acquisition by Haemonetics Corporation (NYSE:HAE), of the blood collection, filtration, processing, storage and re-infusion product lines of Pall Corporation (NYSE:PLL).
- Counsel to JPMorgan Chase as Administrative Agent in a syndicated $550 million credit facility for Cabot Corporation, a global leader in performance materials, in a syndicated $300 million credit facility for IDEXX Laboratories, Inc., a global market leader in diagnostics and IT solutions for animal health, and in a syndicated $150 million credit facility for Progress Software.
- Counsel to Bank of America as Administrative Agent in a syndicated $600 million credit facility for Ross Stores, Inc., one of the nation’s largest retailers.
- Counsel to Bank of America as Administrative Agent in a syndicated $340 million credit facility for Nypro, Inc., a global plastics leader. Related facilities were put in place for Nypro’s Chinese, Dutch and Singapore subsidiaries.
- Counsel to Bank of America as Administrative Agent in a syndicated $125 million credit facility for On Assignment, a leading global provider of temporary staffing professionals.
- Representation of major financial institutions (including Abacus Finance Group, Bank of America, Churchill Financial, Newstar Financial and Wells Fargo Foothill) in connection with sponsor group LBO’s and recapitalizations, and with mergers and acquisitions of public and private companies. Such sponsor groups include Advent International Corporation; Audax Group; Berkshire Partners; BG Affiliates; Bruckman Sherrill & Rosser; Centre Partners; Fairmont Capital; Goldman Sachs; Heritage Partners; ICV Partners; Kinderhook Industries; Lee Capital; Lineage Capital; Madison Dearborn; MVC Capital; Parthenon Capital; Red Diamond Capital; Triumph Partners; TransOcean Capital; Soros Strategic Partners; Summit Partners; TA Associates, Inc.; Trivest, and Zelnick Media.
- Representation of lenders in providing DIP financing to national and regional retail chains, including national footwear, apparel and sports merchandise retailers.
- Representation of Wells Fargo Foothill's Restaurant Group in credit facilities to various restaurant chains (including Jamba Juice, Marmalade Cafe and Mastro’s).
- Representation of a UK lender’s US lending subsidiary in the finance of the acquisition of a Canadian nuclear energy facility involving a “525” term facility and swap agreement (included UK, CI and Canadian entities) and subsequent workout.
- Representation of Agent bank in a $350 million revolving line of credit for a Canadian-based distributor of computer peripherals, with subsidiaries in more than 20 countries.
- Representation of Bank of America, N.A.’s Environmental Services Group in connection with a high-grade, $1.2 billion unsecured credit facility for Waste Connections, Inc. (“WCN”), a public integrated, solid waste services company with operations in 29 states acting through 139 subsidiaries. Merrill Lynch, JP Morgan Securities and Wells Fargo Securities served as co-lead arrangers and joint book managers.
- Representation of Bank of America, N.A.’s Environmental Services Group in connection with a $1.122 billion refinancing senior secured revolving credit facility to IESI Corporation (“IESI”), the U.S. division, headquartered in Texas, of a Canadian public waste company. Merrill Lynch served as the sole lead arranger.