Banking | White & Case
International Banking Law

Banking

As financial markets worldwide converge, clients looking to execute bank and/or bond transactions face evolving market norms along with an array of other challenges. They must understand and act according to a complicated global legal landscape. Issues such as competing bankruptcy and restructuring regimes, differences in market conventions, complex intercreditor concerns and other matters require skilled legal counsel and can make the difference when it comes to getting a deal done.

Navigating complexity in an increasingly international market

Clients choose us for our ability to navigate the complexities of this constantly shifting and increasingly international market while also providing local presence and insight. We understand intricate transactions on a global scale and apply that knowledge and experience to structuring innovative deals for our clients.

We serve the needs of many of the largest banks in the United States, Latin America, Europe, the Middle East, Africa and Asia, and also have a significant practice advising sponsors and corporate borrowers.

Our global Banking team focuses on advising clients in connection with:

  • Leveraged buyouts and recapitalizations
  • Other financing transactions including asset-based lending transactions, real estate, structured trade, and commodity and investment-grade financings
  • Workouts, restructurings, debtor-in-possession financings and exit financings
  • Bank regulation and compliance

We are well-known for handling the most complex, multijurisdictional transactions. With established teams in all the major financial markets globally, including New York, London, Frankfurt, Paris, Hong Kong, Tokyo and Singapore, and in many regional financial centers as well, we offer clients international reach, depth of local resources, seamless integration across offices and a powerful combination of US, English and local law advice. We have strong regional finance practice groups focusing on various areas, including Latin America, Scandinavia, CEE, the Middle East and Asia. Our clients also benefit from our corresponding and integrated Global Capital Markets Practice, which enables us to assist them with bank/bond/equity financings.

Acquisition finance lies at the heart of our practice. Our lawyers routinely advise on high-profile deals, playing major roles in many of the most groundbreaking leveraged finance transactions.

Our clients are able to draw on the legal knowledge and experience of 230 banking lawyers worldwide. The international strength of our practice is reflected in the fact that White & Case is not only recognized for its banking work in Chambers Global 2014's global rankings, but also in 21 individual Chambers Global country rankings and its regional rankings for the Asia Pacific region, Central and Eastern Europe, Europe and Latin America.

 

AWARDS

Ranked First Among the Top Global 20 Law Firms
Law360

"White & Case's banking lawyers specialize in offering practical advice to reconcile competing lender-borrower positions in a way that gets the principals to a closing—their advice can make the difference between a dead deal and a big deal."
Chambers USA 2014

"White & Case has one of the broadest finance practices of any international firm."
Chambers Latin America 2014

"Adopts an integrated approach and works closely with colleagues in key overseas offices, such as London and Hong Kong, to provide a seamless international service."
Chambers USA 2014

"White & Case has an enduring and enviable reputation in the international finance market. Sought after for its broad range of expertise, the firm offers clients a pragmatic approach to complex multi-jurisdictional transactions involving syndicated lending, refinancing and investment grade finance."
Chambers UK 2014

"White & Case is 'one of the top firms' for syndicated loans, corporate lending and leveraged transactions. The team 'meets aggressive timetables’ and ‘delivers the goods.'"
The Legal 500 – Asia Pacific 2014

 

For more information on our work with Financial Institutions click here.

Mallinckrodt plc.
Representation of Deutsche Bank in connection with the provision of US$1.55 billion in senior secured credit facilities to finance the acquisition of Cadence Pharmaceuticals, Inc., by a subsidiary of Mallinckrodt plc. The financing consisted of a US$1.3 billion senior secured term loan facility and a US$250 million senior secured multicurrency revolving credit facility and was secured by collateral in the United States, Ireland, Luxembourg and Switzerland.

The Mergermarket Group
Advised UBS, HSBC, Mizuho Bank and UBS, as administrative agent, in respect to New York law-governed first-lien and second-lien credit agreements (£150 million and £70 million, respectively) provided to finance BC Partners' acquisition of The Mergermarket Group from the Financial Times Group.

CeramTec/Faenza
Representation of Deutsche Bank with respect to the financing of a US$440 million and €292 million senior secured term loan and a €100 million multicurrency revolving credit facility provided to Faenza Acquisition GmbH, a portfolio company of CINVEN, to finance the acquisition of the CeramTec Group, a multinational manufacturer of high-performance ceramics. We also provided German law advice regarding the issuance of €307 million of 8.25% senior notes due 2021.

Doncasters
Representation of Credit Suisse with respect to a US$876 million senior secured first-lien term loan and a US$290 million senior secured second-lien term loan, and Bank of America and Merrill Lynch, Pierce, Fenner & Smith Incorporated with respect to a £110 million senior secured asset-based revolving credit facility, to refinance existing senior debt of Doncasters Group Limited, a UK-based portfolio company of Dubai International Capital.

Salix Pharmaceuticals, Ltd.
Representation of Jefferies Finance LLC in connection with the financing of the acquisition of Santarus, Inc., a specialty biopharmaceutical company, by Salix Pharmaceuticals, which offers innovative gastrointestinal treatments. The financing consisted of a US$1.2 billion senior secured term loan facility and a US$150 million senior secured revolving credit facility. We also represented Jefferies in Salix's issuance of US$750 million senior unsecured notes.

Avon Products, Inc.
Representation of Avon Products, Inc. in connection with a US$1 billion revolving credit agreement with each of the banks and other lenders and Citibank, N.A., as administrative agent. The purpose of the financing was to replace Avon Products Inc.’s existing US$1 billion revolving credit and competitive advance facility agreement. We also advised Avon Products, Inc. in connection with a related public offering of 'US$1.5 billion notes.

P4 Sp. z o.o.
Representation of Polish mobile telecoms operator P4 Sp. z o.o., which trades as Play, in its groundbreaking inaugural €870 million and PLN 130 million dual-tranche high yield bond issue and a new super-senior revolving credit facility.

Uranium One
Representation of Deutsche Bank, Société Générale and Sberbank in Uranium One's inaugural US$300 million high yield bond and related US$120 million revolving credit facility, both secured on a pari passu basis.

Endo Health Solutions Inc.
Representation of Deutsche Bank in the lending facility to Endo Health Solutions, Inc. for financing the approximately US$1.6 billion acquisition of Canadian specialty pharmaceutical company Paladin Labs Inc. (TMX: PLB).

Alibaba Group
Representation of ANZ, Barclays, Citi, Credit Suisse, DBS Bank, Deutsche Bank, Mizuho, Morgan Stanley and HSBC in a two-stage US$4 billion financing for the successful privatization of Hong Kong–listed Alibaba.com and the repurchase of half of Yahoo's 40 percent stake in Alibaba Group Holdings. Alibaba is China's largest e-commerce company, and this transaction was the largest and most complex offshore China "holdco" financing to date and the first to a Chinese Internet company. We subsequently advised the lenders on a new US$8 billion bank loan to Alibaba Group, in the largest Greater China market financing of the year.

Banking
About

As financial markets worldwide converge, clients looking to execute bank and/or bond transactions face evolving market norms along with an array of other challenges. They must understand and act according to a complicated global legal landscape. Issues such as competing bankruptcy and restructuring regimes, differences in market conventions, complex intercreditor concerns and other matters require skilled legal counsel and can make the difference when it comes to getting a deal done.

Navigating complexity in an increasingly international market

Clients choose us for our ability to navigate the complexities of this constantly shifting and increasingly international market while also providing local presence and insight. We understand intricate transactions on a global scale and apply that knowledge and experience to structuring innovative deals for our clients.

We serve the needs of many of the largest banks in the United States, Latin America, Europe, the Middle East, Africa and Asia, and also have a significant practice advising sponsors and corporate borrowers.

Our global Banking team focuses on advising clients in connection with:

  • Leveraged buyouts and recapitalizations
  • Other financing transactions including asset-based lending transactions, real estate, structured trade, and commodity and investment-grade financings
  • Workouts, restructurings, debtor-in-possession financings and exit financings
  • Bank regulation and compliance

We are well-known for handling the most complex, multijurisdictional transactions. With established teams in all the major financial markets globally, including New York, London, Frankfurt, Paris, Hong Kong, Tokyo and Singapore, and in many regional financial centers as well, we offer clients international reach, depth of local resources, seamless integration across offices and a powerful combination of US, English and local law advice. We have strong regional finance practice groups focusing on various areas, including Latin America, Scandinavia, CEE, the Middle East and Asia. Our clients also benefit from our corresponding and integrated Global Capital Markets Practice, which enables us to assist them with bank/bond/equity financings.

Acquisition finance lies at the heart of our practice. Our lawyers routinely advise on high-profile deals, playing major roles in many of the most groundbreaking leveraged finance transactions.

Our clients are able to draw on the legal knowledge and experience of 230 banking lawyers worldwide. The international strength of our practice is reflected in the fact that White & Case is not only recognized for its banking work in Chambers Global 2014's global rankings, but also in 21 individual Chambers Global country rankings and its regional rankings for the Asia Pacific region, Central and Eastern Europe, Europe and Latin America.

 

AWARDS

Ranked First Among the Top Global 20 Law Firms
Law360

"White & Case's banking lawyers specialize in offering practical advice to reconcile competing lender-borrower positions in a way that gets the principals to a closing—their advice can make the difference between a dead deal and a big deal."
Chambers USA 2014

"White & Case has one of the broadest finance practices of any international firm."
Chambers Latin America 2014

"Adopts an integrated approach and works closely with colleagues in key overseas offices, such as London and Hong Kong, to provide a seamless international service."
Chambers USA 2014

"White & Case has an enduring and enviable reputation in the international finance market. Sought after for its broad range of expertise, the firm offers clients a pragmatic approach to complex multi-jurisdictional transactions involving syndicated lending, refinancing and investment grade finance."
Chambers UK 2014

"White & Case is 'one of the top firms' for syndicated loans, corporate lending and leveraged transactions. The team 'meets aggressive timetables’ and ‘delivers the goods.'"
The Legal 500 – Asia Pacific 2014

 

For more information on our work with Financial Institutions click here.

Experience

Mallinckrodt plc.
Representation of Deutsche Bank in connection with the provision of US$1.55 billion in senior secured credit facilities to finance the acquisition of Cadence Pharmaceuticals, Inc., by a subsidiary of Mallinckrodt plc. The financing consisted of a US$1.3 billion senior secured term loan facility and a US$250 million senior secured multicurrency revolving credit facility and was secured by collateral in the United States, Ireland, Luxembourg and Switzerland.

The Mergermarket Group
Advised UBS, HSBC, Mizuho Bank and UBS, as administrative agent, in respect to New York law-governed first-lien and second-lien credit agreements (£150 million and £70 million, respectively) provided to finance BC Partners' acquisition of The Mergermarket Group from the Financial Times Group.

CeramTec/Faenza
Representation of Deutsche Bank with respect to the financing of a US$440 million and €292 million senior secured term loan and a €100 million multicurrency revolving credit facility provided to Faenza Acquisition GmbH, a portfolio company of CINVEN, to finance the acquisition of the CeramTec Group, a multinational manufacturer of high-performance ceramics. We also provided German law advice regarding the issuance of €307 million of 8.25% senior notes due 2021.

Doncasters
Representation of Credit Suisse with respect to a US$876 million senior secured first-lien term loan and a US$290 million senior secured second-lien term loan, and Bank of America and Merrill Lynch, Pierce, Fenner & Smith Incorporated with respect to a £110 million senior secured asset-based revolving credit facility, to refinance existing senior debt of Doncasters Group Limited, a UK-based portfolio company of Dubai International Capital.

Salix Pharmaceuticals, Ltd.
Representation of Jefferies Finance LLC in connection with the financing of the acquisition of Santarus, Inc., a specialty biopharmaceutical company, by Salix Pharmaceuticals, which offers innovative gastrointestinal treatments. The financing consisted of a US$1.2 billion senior secured term loan facility and a US$150 million senior secured revolving credit facility. We also represented Jefferies in Salix's issuance of US$750 million senior unsecured notes.

Avon Products, Inc.
Representation of Avon Products, Inc. in connection with a US$1 billion revolving credit agreement with each of the banks and other lenders and Citibank, N.A., as administrative agent. The purpose of the financing was to replace Avon Products Inc.’s existing US$1 billion revolving credit and competitive advance facility agreement. We also advised Avon Products, Inc. in connection with a related public offering of 'US$1.5 billion notes.

P4 Sp. z o.o.
Representation of Polish mobile telecoms operator P4 Sp. z o.o., which trades as Play, in its groundbreaking inaugural €870 million and PLN 130 million dual-tranche high yield bond issue and a new super-senior revolving credit facility.

Uranium One
Representation of Deutsche Bank, Société Générale and Sberbank in Uranium One's inaugural US$300 million high yield bond and related US$120 million revolving credit facility, both secured on a pari passu basis.

Endo Health Solutions Inc.
Representation of Deutsche Bank in the lending facility to Endo Health Solutions, Inc. for financing the approximately US$1.6 billion acquisition of Canadian specialty pharmaceutical company Paladin Labs Inc. (TMX: PLB).

Alibaba Group
Representation of ANZ, Barclays, Citi, Credit Suisse, DBS Bank, Deutsche Bank, Mizuho, Morgan Stanley and HSBC in a two-stage US$4 billion financing for the successful privatization of Hong Kong–listed Alibaba.com and the repurchase of half of Yahoo's 40 percent stake in Alibaba Group Holdings. Alibaba is China's largest e-commerce company, and this transaction was the largest and most complex offshore China "holdco" financing to date and the first to a Chinese Internet company. We subsequently advised the lenders on a new US$8 billion bank loan to Alibaba Group, in the largest Greater China market financing of the year.