Overview

Philip Herman, a Director and Co-Chair of the firm's Corporate group, brings to his practice more than twenty-five years of experience focusing on commercial law and international matters, with an emphasis on bank financing transactions, leveraged buyouts and recaps, secured and unsecured syndicated and single bank facilities, asset-based and cash flow transactions and selling/buying significant loan portfolios.   Phil is is singled out by Chambers USA as “a fine finance lawyer, with excellent communication skills, who is extremely creative and constructive in his delivery."  Phil is Cuban American and is fluent in Spanish.

Representative Experience

• 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.
• 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 Bank of America’s Retail and Apparel group in financings for Linens 'n Things ($150 million), Barnes & Noble, Inc. ($745 million), Lands' End ($200 million), Ross Stores, Inc. ($600 million), Brookstone ($80 million), GameStop ($75 million), and Claire’s ($60 million). 
• Representation of Bank of America Business Capital in a cross-border asset-based facility to a U.S. manufacturer of specialty textiles and its U.K. subsidiary, and also in numerous workout situations. 
• Representation of Bank of America’s middle-market groups in financings for Green Mountain Coffee Roasters ($135 million), Celestial Seasonings ($250 million), Unicco Service Company ($100 million), Twin Rivers Technologies ($70 million), Unifirst Corporation ($125 million), Future Electronics ($350 million), Roche Bros. Supermarkets ($58 million), Nypro Inc. ($250 million), and Wilmar Industries ($300 million). 
• Representation of Bank of America as collateral agent in a $480 million loan facility for one of the world's leading manufacturers and suppliers of plastic packaging products. 
• Representation of Bank of America’s Restaurant Group in credit facilities to various restaurant chains (including the acquisition financing of Garden Fresh Corporation, the financing of Applebee’s New York and New Jersey franchise locations, and the financing of Rubio’s and Mexican Restaurants). 
• Representation of State Street Bank in the $1.6 billion transfer of its banking and employee business to Citizens Bank; and USTrust in its purchase of a portfolio of BankBoston middle-market loans and its purchase of Sumitomo Bank's commercial loan portfolio; and Bank of America in the $300 million transfer of a portfolio of Term B and Term C Loans to its Flagship CLO. 
• Representation of Bank of America in a $350 million line of credit for a Canadian-based distributor of computer peripherals, with subsidiaries in more than 20 countries. This is one of numerous Canadian financings for which we have served as bank counsel, providing cross-border tax structuring and collateral advice.