2020 Annual Review

Debt Finance

From the world’s largest deals to innovative middle-market transactions, we provide value-oriented and commercial debt finance solutions

__Deal highlight

Major syndicated corporate loan financings for sub-Saharan Africa

Financial institutions

We advised Afreximbank and Credit Suisse as coordinators of €1 billion and US$1 billion term loan facilities, both among the largest syndicated corporate loan financings in sub-Saharan Africa in 2020. Both were upsized in syndication due to oversubscription. Both transactions benefit from structured credit support provided by the Central Bank of Nigeria in the form of a structured guarantee arrangement and a currency swap, and both enable new lending in Naira to eligible borrowers, supporting Bank of Industry’s objectives to catalyze domestic production and facilitate job creation. View the press release here.


Financing for Insight Partners acquisition of Veeam


We advised J.P. Morgan, as left lead arranger, agent and a lender, on a US$1.25 billion senior secured term loan facility and a US$150 million senior secured revolving credit facility to finance in part the acquisition of Veeam Software, a cloud data management company, by Insight Partners, a software company-focused investment fund. This was one of the last sizeable and highly successful syndicated leveraged loan financings before the markets closed with the onset of the COVID-19 pandemic, and Insight Partners’ first significant foray into the syndicated loan markets industry.



Debtor-in-possession facility following bankruptcy

Consumer products

We advised Deutsche Bank AG New York Branch and the lenders for Neiman Marcus Group LLC’s US$900 million asset-based revolving credit facility (ABL) on negotiating a high-profile debtor-in-possession facility and a cash collateral following Neiman Marcus’s filing for chapter 11 bankruptcy protection. The order provided for the use of the ABL lenders’ cash collateral during the bankruptcy, subject to a borrowing base tied to current assets and certain other negotiated provisions.


€5 billion government-guaranteed loan for Renault


We advised BNP Paribas, Crédit Agricole Corporate and Investment Bank, HSBC France, Natixis and Société Générale on the €5 billion term loan facility guaranteed by the French state and granted to the Renault group. View the press release here.


Bain Capital acquisition of Nichii Gakkan

Pharmaceuticals and healthcare

We advised MUFG Bank, Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and Nomura Capital Investment Co., Ltd., as mandated lead arrangers, on the financing for the approximately ¥180 billion acquisition of Nichii Gakkan Co., Ltd. by Bain Capital through a take-over-bid process in Japan.


Financing for Huazhu acquisition of Deutsche Hospitality


We advised JPMorgan Chase, Deutsche Bank and Morgan Stanley, as mandated lead arrangers and bookrunners, on a €440 million term loan facility and US$500 million revolving loan facility to Huazhu Group (formerly known as China Lodging Group) for its acquisition of Frankfurt-based Deutsche Hospitality and to refinance existing debt.