Jake's focus is banking, and he advises clients on a range of leveraged finance transactions, particularly cross border financings.
He is now based in New York, but spent four years in the London office after nearly a decade in the Firm's New York office. It's this unique experience on both sides of the Atlantic that allows Jake to provide his clients with valuable insight into the differences between the US and European markets and use his knowledge to maximize cross-border financing structures.
Most recently, he arranged a number of transactions involving European groups and debt facilities syndicated in the New York market.
He often works across multiple jurisdictions, liaising closely with finance lawyers throughout White & Case's international offices, and with them has successfully concluded various complex financings.
Many of the complicated matters Jake has handled have been multi-million dollar deals involving a number of lenders, and clients can be confident that he understands the full range of options available from pari secured high yield bonds to super senior revolving credit facilities, and that he will come up with a made-to-measure solution that is right for them.
Jake is also able to help his clients navigate different financing structures by using his extensive experience in the negotiation of intercreditor relationships and his knowledge of relevant tax considerations across a number of jurisdictions.
Representative clients of Jake include Jefferies, Deutsche Bank, CVC, Bank of America, Morgan Stanley, Credit Suisse, the Royal Bank of Scotland, Nordic Capital and CHAMP Private Equity.
Representative transactions include:
- Acting for UBS Securities LLC, HSBC Bank plc and Mizuho Bank, Ltd. as joint lead arrangers and lead bookrunners and UBS AG, Stamford Branch as administrative agent in respect to New York law governed First-Lien and Second-Lien Credit Agreements with aggregate principal amounts (the US$ equivalent) of up to £150m and £70m respectively, provided to finance BC Partners acquisition of the Mergermarket Group from the Financial Times Group, a division of the UK Publisher Pearson. The Mergermarket Group is a leading global provider of global corporate financial news, intelligence and analysis whose key brands include Mergermarket, Debtwire, DealReporter, Infinata, Wealthmonitor and Xtract Research;
- Acting for Credit Suisse, Jefferies and the Royal Bank of Scotland as lead arrangers under senior facilities provided to finance the acquisition of Skrill Group Limited by CVC;
- Represented Deutsche Bank AG, London Branch as Sole Global Coordinator and Deutsche Bank AG, London Branch, Commerzbank Aktiengesellschaft, UniCredit Bank AG and HSBC Bank PLC as Arrangers in connection with the refinancing and recapitalisation of Minimax by way of senior secured facilities comprising of €315 million and US$422 million term loan B, €141.5 million Guarantee Facility and €40 million Revolving Facility;
- Represented lead arrangers Deutsche Bank and Goldman Sachs as European counsel under a $395 million first lien credit agreement and a $95 million second lien credit agreement for Clondalkin Acquisition B.V., a Dutch packaging company. The proceeds of the new facilities were used along with proceeds from asset sales and receivables securitizations to refinance the entire existing debt structure of Clondalkin;
- Acting for Deutsche Bank AG London Branch, BNP Paribas, Rabobank, ING and ABN AMRO in connection with their financing of the €1.2 billion take-private acquisition by vehicles controlled by Advent International Corporation of shares in Mediq N.V., a Dutch-listed international provider of medical devices and pharmaceuticals;
- Represented Bank of America, N.A. as Administrative Agent and Collateral Agent under an asset-based revolving credit facility in an aggregate principal amount of £110 million made available to Doncasters Group Limited and certain of its subsidiaries for the purpose of refinancing certain existing indebtedness of the Doncasters Group and to fund working capital and other general corporate purposes;
- Represented Jefferies and its affiliates in connection with a recapitalization of Klöckner Pentaplast, one of the world's largest suppliers of plastic films and the provision of approximately €630 million of new debt facilities provided by Jefferies to fund the prepayment of existing senior facilities of Klöckner Pentaplast as part of the recapitalization;
- Represented Deutsche Bank AG in connection with the financing of health care company Fresenius Group's intended offer to acquire German hospital operator Rhoen-Klinikum AG. Fresenius plans to finance the acquisition through a syndicated loan, a bond issue and equity instruments worth up to €1 billion;
- Represented the borrower on RUB 38 billion term and revolving loan facilities provided by VTB Capital plc with respect to the refinancing of existing syndicated loans of the leading Russian automobile manufacturer GAZ Group;
- Represented Deutsche Bank and HSBC as Lead Arrangers in relation to debt facilities made available to Colfax Corporation and its subsidiaries in connection with Colfax UK Holdings Ltd's recommended cash and share offer for Charter International PLC;
- Represented Nordic Capital as sponsor on its acquisition and related financing of The Binding Site Group. The financing comprised of a term facility, capex and RCF and was secured by a security package covering jurisdictions in the UK, Germany and the US;
- Represented Deutsche Bank AG, as Sole Lender with respect to a £522 million senior secured bridge credit facility provided to KSE, UK, Inc. in connection with its recommended mandatory cash offer made for Arsenal Holdings PLC, the UK listed holding entity for Arsenal Football Club;
- Represented Nordic Capital Fund VII on its acquisition and related financing of the Handicare Group, one of Europe's leading healthcare equipment companies;
- Represented Jefferies, UBS and Wells Fargo, the Joint Book-Running Managers, in connection with a Rule 144A/Regulation S offering by Siemens Enterprise Communications of €200 million 10.75% Senior Secured Notes due 2015 and guaranteed by Enterprise Networks Holdings B.V. and sixteen of its subsidiaries in ten jurisdictions. Siemens Enterprise Communications is a leading global provider of communications-related products and services to enterprises, including businesses, government agencies and other organizations;
- Represented Morgan Stanley and The Bank of Tokyo-Mitsubishi in connection with the issuance by CF Industries Holdings Inc. of an aggregate of US$1.6 billion of senior notes to finance its US$4.7 billion acquisition of Terra Industries Inc. The notes offerings consisted of US$800 million of 6.875% Senior Notes due 2018 and US$800 million of 7.125% Senior Notes due 2020. Other aspects of the transaction included US$2.5 billion of senior secured first lien credit facilities, US$1.75 billion of second lien bridge financing and a US$1.15 billion common stock offering;
- Represented Deutsche Bank, Credit Suisse and JPMorgan as lead agents and arrangers in connection with the acquisition by Fresenius SE of APP Pharmaceuticals Inc.;
- Represented Deutsche Bank and TowerBrook in connection with the restructuring of the capital structure of Wilton Brands, Inc.;
- Represented Deutsche Bank and SunTrust Bank, as lead agents and arrangers in connection with the acquisition by Lee Enterprises, Incorporated of Pulitzer Inc., and the subsequent restructuring of Lee's capital structure;
- Represented Appleton Papers in the restructuring of the capital structure of Appleton Papers, Inc.; and
- Represented Deutsche Bank, UBS Securities, Bank of America and BNP Paribas as lead agents and arrangers in connection with the acquisition by Oak Hill Capital Partners of eight Fox television stations.
Bars and Courts
New York State Bar
JD, Cornell University Law School
BS, Cornell University
Awards and Recognition
Recommended individual, Legal 500
IFLR 1000 Leading Lawyer
Author, "Yankee Loans – Structural Considerations and Familiar Differences from Across the Pond to Consider," The International Comparative Legal Guide to: Lending & Secured Finance, 2014
Co-author, "Structuring and Restructuring European Leveraged Finance Transactions," PLC Finance, 2013
Author, "Syndicating European debt into the US: It is not the picture but how you view it," PLC, 2012
Co-author, "A New Lease of Life," The Treasurer, February 2011