Debt Finance


Since our founding in 1901, finance has been at the core of White & Case.

One of few law firms with a well-rounded finance practice, we have dedicated Bank Lending, Private Credit & Direct Lending and Borrower Finance teams, who advise a wide range of banks, credit funds, alternative capital providers, sponsors and corporations on:

  • Leveraged buyouts, acquisition financings, refinancings and recapitalizations
  • Asset-based loans, real estate, structured trade, commodity and investment-grade financings and other financing transactions
  • Special situations and distressed lending
  • Workouts, restructurings, debtor-in-possession financings and exit financings

Clients choose us for our ability to complete highly complex, cross- border transactions. With established teams in all of the world’s major financial markets, including New York, London, Frankfurt, Paris, Milan, Hong Kong, Tokyo and Singapore, we offer clients international reach, depth of local resources, seamless integration across offices and a powerful combination of US, English and local law advice.

In addition, strong regional finance practice groups guide clients through transactions in Latin America, Scandinavia, CEE, the Middle East and Asia. Our integrated global Capital Markets practice enables us to assist with all bank/bond/equity financings, and our long-standing emerging markets experience across a broad range of finance products, supports businesses in Mining and Metals, Oil & Gas, Power, Infrastructure and other sectors.

From the world’s largest deals to innovative middle-market transactions, we provide value-oriented and commercial solutions whatever your strategy or industry focus.


View more information on our Bank Lending teamView more information on our Private Credit & Direct Lending teamView more information on our Borrower Finance team

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Band One: Global-wide Banking and Finance
Band One: Asia-Pacific Region Banking & Finance
Band One: China - Banking & Finance (International Firms)
Band One: China - Banking & Finance: Leveraged & Acquisition Finance (International Firms)
Band Two: Japan - Banking & Finance: International
Chambers, 2021

Tier 1 - Hong Kong- Banking & Finance
Tier 2 - China- Banking & Finance: Foreign Firms
Tier 1 - Indonesia- Banking & Finance
The Legal 500, 2021

Band One: UK – Banking & Finance – Borrowers; Middle-Market
Band One: Latin America – Banking
Chambers, 2020

Tier One: UK – Finance – Acquisition Finance
Tier Two: US – Commercial Lending: Advice to Lenders
The Legal 500, 2020

Banking Law Firm of the Year
LegalCommunity Finance Awards, Italy, 2020

"Well-respected firm with extensive experience in acquisition finance, leveraged finance, syndicated finance and the negotiation of senior credit facilities. Acts on behalf of borrowers and lenders, who benefit from the breadth of its geographic coverage and ability to build multi-office teams across key financial hubs."
Chambers Global, 2020

"The firm's engagement on both the borrower and lender side affords it an excellent perspective of what is current in terms of market trends, and with a strong knowledge of UK and US-governed financing products (including high yield bonds and Term Loan B structures) it is well-placed to handle many of the most complex mandates in the market."
Chambers UK, 2020

"Client base includes heavyweight underwriters, investment banks and household-name corporations, as well as private equity firms and their portfolios."
Chambers USA, 2020

Band Two: Banking & Finance
Chambers USA, Europe and Global, 2020

#1 Global 20 Law Firm
Law360, 2019

Tier One: Latin America – Banking
The Legal 500, 2019



ION Trading
Representation of UBS AG, Stamford Branch as arranger in connection with a US$2.1 billion (aggregate) incremental term loan facility for ION Trading Technologies and ION Trading Finance Limited's credit agreement. This transaction included US$1.32 billion in initial Dollar term loans and €670 million in initial Euro loans. This complex cross-border transaction was named North America Leverage Loan of the Year by International Financing Review.

Dell Technologies
Representation of UBS Securities LLC, Jefferies Finance LLC, Barclays Bank PLC and Deutsche Bank Securities Inc. as joint lead arrangers and bookrunners in connection with a US$1.425 billion financing of the acquisition of Dell Technologies' (NYSE: DELL) RSA by a consortium led by Symphony Technology Group, Ontario Teachers' Pension Plan Board and Alpinvest Partners. The financing consists of a US$1 billion first lien term loan facility, US$75 million first lien revolving credit facility and US$350 million second lien term loan facility.

Tianqi Lithium
Representation of China CITIC Bank International Limited as global coordinator, mandated lead arranger, underwriter, bookrunner and agent in a US$1 billion mezzanine syndicated term loan to Tianqi Lithium Australia Investments 2 Pty Ltd, a subsidiary of Chinese new energy materials company Tianqi Lithium Corporation listed on the Shenzhen Stock Exchange, for the acquisition of a stake in SQM, a Chilean lithium miner. This deal was named Finance Deal of the Year: Acquisitions, by The Asia Legal Awards.

Representation of the mandated lead arrangers and bookrunners on the amendment and extension of the 2017 facilities and concurrent upsize to an aggregate US$6.5 billion senior secured revolving credit facilities for Alipay (Hong Kong) Holding Limited, in 2019.

Charles Taylor
Representation of Royal Bank of Canada as global coordinator, senior lead arranger and original lender, on the debt financing package to support Lovell Minnick Partners' take-private acquisition of Charles Taylor plc, the leading international provider of professional services and technology solutions to the global insurance market.

Pioneer Public Properties
Representation of the lenders supporting Whitehelm Capital’s acquisition of Pioneer Public Properties. Pioneer Public Properties owns a portfolio of 163 preschools and 8 care homes across Norway, Finland and Sweden. The transaction was financed with a NOK 2,900,000,000 term loan facility and a NOK 500,000,000 Capex Facility. The transaction was cross border and involved dealing with material existing debt facilities which needed to remain within the structure.



Representation of GSO Capital Partners and its affiliates on second lien, preferred equity and common equity financing to support Advent International on its approximately £4 billion acquisition of the shares in Cobham plc. Cobham is a leading global technology and services innovator with customers and partners in more than 100 countries, with market leading positions in wireless, AV, data and satellite communications, defense electronics, aviation services and life support and mission equipment.

Surgical Manufacturing Business
Representation of Goldman Sachs Private Credit and EQT Credit as co-lenders under a bespoke holdco financing arrangement, backing the acquisition by TA Associates of a minority stake in a surgical manufacturing business. This was a complex transaction involving a structured interplay between the financing arrangements and shareholder documentation.

Summit Broadband
Representation of Deutsche Bank Direct Lending in connection with a secured term loan and revolving credit facility to fund the acquisition of Summit Broadband by Grain Management. Summit is a Florida-based fiber-optic telecommunications provider.

Gibson Brands
Representation of GSO Capital Partners in connection with a US$130 million senior secured financing for Gibson Brands, a multinational manufacturer of musical instruments and professional audio equipment headquartered in Tennessee. GSO’s financing package included a US$60 million international term loan made to Gibson’s Hong Kong subsidiary and a US$70 million "last-out" term loan made under an amended and restated ABL credit agreement in favor of Gibson and certain of its US and Dutch subsidiaries.

HNA Aviation
Representation of RRJ Capital in connection with a US$930 million senior secured guaranteed mandatory exchangeable bond and a US$600 million senior secured guaranteed bridge term loan to HNA Aviation (HK) Air Catering. HNA Aviation (HK) Air Catering is the sole shareholder of gategroup, a Zurich headquartered global leader in airline catering, retail-on-board and hospitality products and services.

China Oceanwide Real Estate Development Holdings
Representation of PAG as lender in an up to US$215 million senior secured term loan facility to China Oceanwide Real Estate Development Holdings Limited, a company incorporated under the laws of the BVIs and wholly owned by China Oceanwide Holdings Limited, a company incorporated under the laws of Bermuda and listed on the Main Board of the HKSE, as parent guarantor.



Brookfield Infrastructure and GIC / Genesee & Wyoming
Representation of a consortium composed of Brookfield Infrastructure and its institutional partners and GIC in the financing of the acquisition of Genesee & Wyoming Inc. for US$8.4 billion. The acquisition was funded in part by senior secured credit facilities arranged by Credit Suisse comprised of a US$2.55 billion senior secured term loan B facility and a US$600 million senior secured revolving credit facility. This transaction was awarded "Private Equity Deal of the Year" by IFLR for 2020.

Roark Capital Management and Inspire Brands
Representation of Roark Capital Management and its portfolio company, Inspire Brands, a multi-branded restaurant company whose portfolio includes Arby’s, Buffalo Wild Wings, Sonic, Rusty Taco and Jimmy John’s restaurants, in financing of US$3,600 million in the aggregate, comprised of a US$1,575.0 million senior secured term loan B facility and a US$150 million senior secured revolving credit facility incurred in connection with Inspire Brand’s acquisition of Buffalo Wild Wings, an incremental US$1,025 million senior secured term loan B facility and an incremental US$100 million senior secured revolving credit facility incurred in connection with Inspire Brand’s acquisition of Sonic and US$750 million first lien senior secured notes.

I Squared Capital
Representation of I Squared Capital ("ISQ") in its HK$7.1 billion debt financing for the acquisition of Hutchison Global Communications Investment Holding Limited ("HGC"), a leading IT service provider and one of Hong Kong’s largest-scale Wi-Fi service providers. We subsequently advised ISQ and HGC in the refinancing, amendment and extension of the previous debt financing and incorporation of a new term loan facility, totaling about HK$7.9 billion.

Bain Capital
Representation of Bain Capital in the financing for its US$1.1 billion leveraged acquisition of Bellsystems24, the leading call center operator in Japan, and subsequently Bellsystems24 in the financing for its dividend recapitalization and further secondary refinancing of its term and revolving credit facilities.

Bridgepoint Capital
Representation of a consortium including Bridgepoint Capital in the unitranche and super senior debt financing for a US$1 billion (SEK 9.2 billion) public takeover offer for Cherry AB, a Sweden-based service company active in the gaming industry, with a focus on casino, slot machines and Internet gaming.

Inflexion Private Equity Partners and Ocorian
Representation of Inflexion Private Equity Partners and its portfolio company, Ocorian, provider of trustee administration and fiduciary services, on the senior and PIK financing for their leveraged buyout of the Estera group of companies (a provider of trustee services) from Bridgepoint Capital.