Acquisition Financing: Evaluating Layers of Capital, Negotiating Loan Terms, Navigating Regulatory Developments

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, December 17, 2015

Recorded event now available

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Program Materials

This CLE webinar will provide guidance to finance counsel for evaluating and structuring acquisition financing in the current market. The panel will discuss recent trends and practical strategies for approaching loan documentation.

Description

Acquisition financing has rebounded to levels not seen since before the recession, resulting in a significant increase in merger and acquisition activity. Private equity sponsors and strategic buyers are tapping traditional lenders and non-bank sources to finance deals.

Recent bank regulatory actions to address bank capital and leverage and liquidity have changed the finance landscape and have impacted loan structures, loan terms and other lending activities.

Finance counsel must consider a number of legal and financial factors when evaluating financing options and negotiating loan terms. Careful drafting of financing terms and loan documentation is critical.

Listen as our authoritative panel examines financing terms that have become commonplace in the current acquisition financing market. The panel will explain strategies for counsel to lenders and private equity sponsors and strategic buyers for negotiating financing for acquisitions, including considerations for loan documentation and the impact of recent regulatory developments.

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Outline

  1. Trends
    1. Market trends
    2. Regulatory constraints
  2. Layers of capital
    1. Senior bank financing
    2. Asset-based lending
  3. Loan documentation
    1. Financial covenants
    2. Permitted acquisitions
    3. Permitted distributions
    4. Equity cure rights
    5. Solvency representations
    6. Defaulting lender provisions
    7. Consents to assignment

Benefits

The panel will review these and other key issues:

  • Financing options being used to facilitate M&A deals in the current acquisition market
  • Most common deal terms sponsors and buyers are negotiating and the benefits and risks of each
  • Perspectives from both lenders and borrowers, including typical loan provisions and terms
  • Key regulatory changes impacting acquisition financing

Faculty

Lawrence F. Flick, II
Lawrence F. Flick, II

Partner
Blank Rome

Mr. Flick represents some of the nation’s largest financial institutions and private equity funds and serves...  |  Read More

S. Randy Lampert
S. Randy Lampert

President
Lampert Debt Advisors

Mr. Lampert is the founder of Lampert Debt Advisors, a boutique investment bank specializing in structuring and raising...  |  Read More

Kelly M. Dybala
Kelly M. Dybala

Partner
Sidley Austin

Ms. Dybala focuses her practice on private equity, financing transactions and debt restructurings. She represents...  |  Read More

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