Biography
Yehuda is a partner in White & Case's Debt Finance practice. He has experience representing private equity sponsors, corporate borrowers, agents, lead arrangers, lenders and other investors in a wide range of credit facilities, including secured and unsecured syndicated and privately held term loan and revolver financings, first lien and second lien financings, cross-border acquisition financings, dividend recapitalizations, ABL facilities, mezzanine financings, debtor-in-possession and exit financings, and general bank lending.
Experience
- Talen Energy Supply
- Representation of Talen Energy Supply, LLC, as Borrower, on a series of financing transactions for an aggregate of US$2.46 billion, comprising of the repricing of US$860 million of existing term loans; the repricing and maturity extension of a US$700 million revolving credit facility; and a new US$900 million letter-of-credit facility.
- Representation of Talen Energy Supply, LLC, as Borrower, in connection with a repricing amendment to an existing credit facility with Citibank, N.A. as Administrative and Collateral Agent.
- Representation of Talen Energy Supply, LLC, as Borrower, in connection with an $850 million incremental amendment to an existing credit facility with Citibank, N.A. as Administrative Agent and Collateral Agent.
- Representation of Alpha Generation, LLC on its inaugural financings, consisting of a US$2.0 billion senior secured term loan, US$1.0 billion of senior notes, and a US$700 million senior secured revolving credit facility. The net proceeds were used to repay certain indebtedness of Alpha Generation's subsidiaries, pay costs and expenses associated with resetting energy hedge agreements, support Alpha Generation's operational performance improvement initiative and fund a distribution to the direct or indirect equity holders of Alpha Generation. Alpha Generation was formed by an affiliate of ArcLight Capital Partners, LLC to own and operate one of the largest power infrastructure portfolios in the United States.
- Representation of Calpine Corporation in various significant financing transactions, including Amendment No. 13 to the Revolving Credit Agreement, which extended the maturity date to 2029 and increased commitments to US$2.5 billion, and a $100 million letter of credit agreement with Goldman Sachs Bank USA. Also facilitated multiple refinancing tranches and amendments involving term loans totaling over US$3 billion, with Credit Suisse AG, Cayman Islands Branch acting as Administrative Agent.
- Representation of Lightning Power, LLC, a leading independent power producer with 11 GWs of grid-enhancing, flexible, quick-start natural gas generation located in PJM, ISO-NE and NYISO, as borrower in its inaugural financings. The financings consist of a US$1.75 billion senior secured term loan, US$1.5 billion of senior secured notes and a US$600 million senior secured revolving credit facility. Shutterstock Representation of Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform offering high-quality creative content for transformative brands, digital media and marketing companies, in connection with its US$245 million Acquisition of Envato Pty Ltd., a leader in digital creative assets and templates. The financing involved a US$375 million unsecured credit facility, comprised of a US$125 million term loan facility and a US$250 million revolving credit facility.
- Representation of Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform offering high-quality creative content for transformative brands, digital media and marketing companies, in connection with its US$245 million Acquisition of Envato Pty Ltd., a leader in digital creative assets and templates. The financing involved a US$375 million unsecured credit facility, comprised of a US$125 million term loan facility and a US$250 million revolving credit facility.
- Representation of Alliant Holdings Intermediate, LLC and Alliant Holdings Co-Issuer, Inc., as issuers (the "Issuers"), and Stone Point Capital LLC, as sponsor, in connection with the Issuers' offering of US$690 million aggregate principal amount of 6.750% senior notes due 2027. The Issuers used the net proceeds from the offering, along with cash on hand, to redeem all of their outstanding 8.250% senior notes due 2023.
- Stone Point Capital
- Representation of Stone Point Capital, in connection with a US$1.55 billion first lien term loan facility, a US$200 million first lien revolving credit facility, and a US$450 million second lien term loan facility, the proceeds of which were used to fund the acquisition of Duff & Phelps (including the repayment of Duff & Phelps' outstanding debt). Yehuda also represented Stone Point Capital LLC and Duff & Phelps in connection with a US$300 million first lien incremental term loan facility in connection with a potential acquisition.
- Representation of Stone Point Capital, as the sponsor, and Gem Acquisitions, Inc., as the borrower, in connection with a US$415 million first lien credit facility and a US$120 million second lien credit facility to finance an acquisition of Gem Acquisitions, Inc.
- Representation of Stone Point Capital on a US$550 million first lien senior secured term loan facility, US$50 million first lien senior secured revolving credit facility and a US$150 million second lien senior secured term loan facility to finance the acquisition of Pre-Paid Legal Services, Inc. Royal Bank of Canada acted as the Administrative Agent.
- Representation of China CITIC Bank Corporation Limited and a group of Chinese banks on facilities with a total commitment of around US$2.630 billion for a consortium led by Apex Technology Co., Ltd., PAG and Legend Capital Management Co., Ltd. The facilities supported the consortium's acquisition of Lexmark International, Inc. Lexmark was acquired for US$40.50 per share in an all-cash transaction with an enterprise value of approximately US$4 billion.
- Representation of Newport Group, Inc. and Kelso & Company in connection with a US$270 million first lien term loan and revolving credit facility and US$60 million second lien term loan facility for the purposes of financing the acquisition of a portion of the equity interests of Newport by Kelso & Company and refinancing existing debt.
- Representation of UBS AG in connection with an acquisition financing with a US$375 million first lien term facility and a US$55 million first lien revolving credit facility and a US$90 million second lien term facility. The acquisition was sponsor's first US deal.
- Representation of each of JBS USA Lux S.A., JBS USA Food Company, JBS Australia Pty Limited and JBS Food Canada ULC, as borrowers, under a US$900 million ABL Revolving Credit Facility. The credit facility replaces the borrowers' existing credit facilities.
- Representation of Deutsche Bank AG New York Branch as first lien incremental lead arranger and Eaglehill Advisors LLC as second lien sole bookrunner and sole lead arranger in connection with the refinancing of the existing senior secured credit facilities of Premiere Global Services, Inc., a global provider of web conferencing and collaboration tools, including a US$115 million first lien term loan facility and a US$50 million second lien term loan facility.
- Representation of Focus Financial Partners, LLC in connection with a US$1.045 million first lien credit facility and a US$207 million second lien credit facility with Royal Bank of Canada and Bank of America, N.A., as first lien administrative agents and Royal Bank of Canada, as second lien administrative agent. Both the first lien credit facility and second lien credit facility are secured by substantially all of the US assets of Focus.
