Eric Leicht is a partner in the New York office of White & Case LLP, and Global Head of the Firm's Debt Finance practice. He represents major commercial and investment banks, as lead agents and arrangers, and corporations in a wide range of leveraged and corporate finance transactions, including domestic and cross-border acquisition finance, investment-grade facilities, asset-based lending facilities, bridge facilities DIP financings and restructurings.
With more than 20 years of experience, Eric is widely recognized by respected legal guides as a leading practitioner in the field of banking and finance based on his significant transactional track record.
Eric's extensive experience and thorough knowledge of his sector has made him a valued legal resource for major domestic and overseas clients. He has worked on a number of landmark and award-winning deals, including the reorganization of the Central European Distribution Corporation (CEDC) (which won M&A Advisor's Chapter 11 Reorganization of the Year Award 2014 for projects over US$1 billion) and a US$7.6 billion term loan facility to Univision Communications, Inc. (which was — at the time — the largest leveraged term loan facility ever syndicated), and the US$1.3 billion holdco term loan to Citgo Holding (part of the largest ever holdco dividend financing).
At ease with the most technically demanding of projects, Eric is adept at steering clients through the legal complexities of large-scale, multijurisdictional transactions. As counsel for the agent banks, he is active in all aspects of deal structure, negotiation and documentation, including the negotiation of intercreditor relationships among senior and junior creditors.
Eric's skill and creativity as a legal strategist are major assets for clients who require the effective execution of crucial financing transactions. He combines a deep understanding of his field with broad sector knowledge, having represented lenders in deals involving borrowers from the manufacturing, hotel, retail, consumer products, energy and media and communications industries.
Representation of Deutsche Bank AG New York Branch as administrative agent, in connection with the restatement of Neiman Marcus Group LLC's US$900 million asset-based revolving credit facility (ABL) in September 2019, the documentation and negotiation of a US$100 million first-in-last-out (FILO) provided by TPG under the restated credit agreement and various restructuring transactions in connection therewith. Following the company's filing for Chapter 11 bankruptcy protection in May 2020, representation of Deutsche Bank AG New York Branch and the ABL lenders with respect to a debtor-in-possession (DIP) facility and a cash collateral order.
Representation of Deutsche Bank AG New York Branch, as administrative agent and collateral agent, and Deutsche Bank Securities Inc., Barclays Bank plc, Citibank, Credit Suisse, Royal Bank of Canada, UBS Securities and Natixis, as joint lead arrangers, of (i) $4.25 billion senior secured super-priority debtor-in possession credit facilities for Texas Competitive Electric Holdings Company LLC used to refinance its existing DIP facilities and (ii) $4.25 billion senior secured exit credit facilities for Tex Energy LLC (as successor to TCEH) incurred to refinance and replace the existing DIP credit facilities upon the emergence of TCEH from bankruptcy. This was the largest DIP Roll-to-Exit Facility in history.
Representation of Anthem, one of the nation's largest health benefits companies, in connection with a US$26.5 billion bridge loan commitment provided by a group of lenders, including Bank of America Merrill Lynch, Credit Suisse and UBS. The bridge loan commitment was entered into in connection with Anthem's proposed acquisition of Cigna Corporation.
Representation of Deutsche Bank AG New York Branch as administrative agent and collateral agent, and Deutsche Bank Securities Inc., Merrill Lynch, BMO Capital Markets, HSBC Securities and Sumitomo Mitsui Banking Corporation, as joint lead arrangers and joint bookrunners, in connection with a US$2.2 billion term loan facility and a US$600 million revolving facility for ON Semiconductor Corporation in connection with its acquisition of Fairchild Semiconductor International, Inc.
Fortress Investment Group
Representation of Deutsche Bank, Mizuho and Credit Agricole, as Joint Lead Arrangers, for US$1.54 billion of senior secured credit facilities made available to Foundation Holdings, a wholly owned subsidiary of SoftBank, to finance the acquisition of Fortress Investment Group.
Representation of Fortis Inc., a leader in the North American electric and gas utility business, in connection with (i) an approximately US$2 billion bridge loan commitment provided by Goldman Sachs Bank USA and (ii) an approximately US$1.7 billion bridge loan commitment provided by The Bank of Nova Scotia. The bridge loan commitments were entered into in connection with Fortis Inc.'s acquisition of ITC Holdings, the largest independent electric transmission company in the US.
Representation of Deutsche Bank AG New York Branch, as administrative agent and collateral agent, and Deutsche Bank Securities, Inc., Barclays Bank PLC and BNP Paribas Securities Corp., as joint lead arrangers and joint bookrunners, in the financing of a US$1.25 billion first lien "B" term facility, US$55 million first lien "C" term facility, US$145 million first lien revolving facility, and US$260 million second lien term facility provided to Granite Acquisition Inc. The purpose of the transaction was to fund Energy Capital Partners' acquisition of Wheelabrator Technologies Inc. and certain related entities from Waste Management Holdings, Inc., and to finance the working capital needs and other general corporate purposes of Granite Acquisition Inc.
Representation of Deutsche Bank AG, New York Branch, as administrative agent, collateral agent, swing line lender and an initial L/C Issuer, and Deutsche Bank Securities Inc., as a joint lead arranger, joint bookrunner and co-syndication agent, with respect to the financing of a US$900 million revolving credit facility and a US$650 million term "B" loan facility provided to CITGO Petroleum Corporation. Citgo Petroleum Corporation is a Venezuelan refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products.
Representation of Deutsche Bank AG, New York Branch, as administrative agent, and Deutsche Bank Securities Inc. and Banc of America Securities LLC as joint lead arrangers and joint bookrunners, with respect to a US$6.7 billion senior secured credit facility provided to Univision Communications, Inc. Univision is the leading Spanish language broadcaster in the United States.
Representation of Avon Products, Inc., as Guarantor, and Avon International Operations, Inc., as Borrower, in connection with a US$400 million senior secured revolving credit facility with Citibank, N.A., as Administrative Agent. The purpose of the financing is to refinance Avon Products Inc.'s existing US$1 billion Revolving Credit Facility Agreement.
Leading Individual (Band 2), Banking & Finance – Chambers USA 2020
Hall of Fame, Finance – Commercial Lending – Legal 500 US 2020