Aaron G.Burnside

Associate

Cleveland + 1.216.586.7215

Aaron Burnside advises public and private companies and financial institutions on capital markets and commercial financing transactions. His practice includes debt and equity securities offerings, public disclosure obligations, and corporate governance matters.

Aaron has recently represented companies such as Athersys, Cleveland-Cliffs, Macy's, FirstEnergy, Diebold Nixdorf, and Cintas. He has also represented financial institutions, including Bank of America, Wells Fargo, and KeyBank.

Experience

  • FirstEnergy completes $1.1 billion cash tender offerJones Day represented FirstEnergy Corp. in connection with its purchase for cash of a combined aggregate purchase price of $1.1 billion aggregate principal amount of its 7.375% Notes, Series C, due 2031 and 4.85% Notes, Series C, due 2047.
  • FirstEnergy completes $1 billion Common Equity offeringJones Day represented FirstEnergy Corp. in connection with its $1 billion private placement of Common Equity to Blackstone Infrastructure Partners at $39.08 per share.
  • American Transmission Systems completes $600 million Senior Notes offeringJones Day represented American Transmission Systems, Incorporated, a wholly-owned subsidiary of FirstEnergy Transmission, LLC, which is a direct subsidiary of FirstEnergy Corp., in connection with its Rule 144A and Regulation S offering of $600 million aggregate principal amount of 2.650% Senior Notes due 2032.
  • FirstEnergy sells $2.4 billion minority transmission stake to BrookfieldJones Day is representing FirstEnergy Corp. in its $2.4 billion sale of a 19.9% equity stake in its subsidiary FirstEnergy Transmission, the holding company for FirstEnergy’s three regulated electric transmission businesses.
  • FirstEnergy obtains $4.5 billion financing packageJones Day represented FirstEnergy Corp., a diversified energy holding company, and certain of its subsidiaries in connection with six new credit facilities in an aggregate amount of $4.5 billion, consisting of (i) a $1 billion senior unsecured revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent, (ii) an $800 million senior unsecured revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent, (iii) a $950 million senior unsecured revolving credit facility with Mizuho, Ltd., as administrative agent, (iv) a $500 million senior unsecured revolving credit facility with Mizuho, Ltd., as administrative agent, (v) a $400 million senior unsecured revolving credit facility with Mizuho, Ltd., as administrative agent, and (vi) an $850 million senior unsecured revolving credit facility with the administrative agent thereto.
  • TopBuild completes $500 million Senior Notes offeringJones Day represented TopBuild Corp., a leading installer and distributor of insulation and building material products in the United States, in connection with a Rule 144A and Regulation S offering of $500 million aggregate principal amount of Senior Notes due 2032.
  • KeyBanc Capital Markets Inc.-led group of sales agents establishes at-the-market equity program for sale of up to $150 million of Common Shares by Alexander & Baldwin, Inc.Jones Day represented a KeyBanc Capital Markets Inc.-led group of sales agents in connection with the establishment of an at-the-market equity program for the sale of up to $150 million of Common Shares by Alexander & Baldwin, Inc., a premier commercial real estate company located in Hawaii and owner of the largest grocery-anchored, neighborhood shopping center portfolio in the state.
  • Riverside acquires Whittle & Mutch, Inc.Jones Day represented The Riverside Company in connection with the acquisition and financing by portfolio company FlavorSum of Whittle & Mutch, Inc. (W&M), a fourth-generation, family-owned flavor house that manufactures and sells liquid flavors, emulsions, extracts, and other taste-related products primarily to beverage customers.
  • Great Elm Capital Corp. completes $50 million Notes offeringJones Day represented Great Elm Capital Corp. (“GECC”) in connection with its underwritten public offering of $50 million aggregate principal amount of 5.875% Notes due 2026.
  • Energy Focus completes registered direct offering of Common StockJones Day advised Energy Focus, Inc., an industry-leading innovator of sustainable and human-centric lighting and lighting control technologies and solutions, as well as UV-C Disinfection technologies and solutions, in connection with its registered direct offering of 990,100 shares of Common Stock.
  • AcuityAds completes IPO in United States and public offering in Canada totaling US$57.5 millionJones Day represented AcuityAds Holdings Inc., headquartered in Toronto, Canada, in connection with its initial public offering of Common Shares in the United States.
  • FirstEnergy subsidiary completes $150 million Senior Notes offeringJones Day represented Mid-Atlantic Interstate Transmission, LLC, an electric transmission subsidiary of FirstEnergy Corp., a diversified energy holding company, in connection with a Rule 144A and Regulation S offering of $150 million aggregate principal amount of its 4.10% Senior Notes due 2028.
  • KeyBanc Capital Markets-led syndicate completes $129.4 million public offering of Common Stock by DMC Global Inc.Jones Day represented a KeyBanc Capital Markets Inc.-led syndicate, as underwriters, in connection with the $129.4 million public offering of Common Stock by DMC Global Inc., a diversified holding company whose portfolio serves the energy, industrial processing, and transportation markets.
  • The Toledo Edison Company issues $150 million Senior Secured Notes and First Mortgage BondsJones Day represented The Toledo Edison Company, an electric public utility subsidiary of FirstEnergy Corp., a diversified energy holding company, in connection with a Rule 144A and Regulation S offering of $150 million aggregate principal amount of 2.65% Senior Secured Notes due 2028 (the “Senior Secured Notes”) and concurrent issuance of an equal aggregate principal amount of its First Mortgage Bonds, 2.65% Series of 2021 due 2028, which were delivered to the trustee to be held as collateral security for the Senior Secured Notes.
  • Maxeon Solar Technologies completes public offering of $125 million of Ordinary Shares and concurrent private placement of $33.7 million of Ordinary SharesJones Day represented Maxeon Solar Technologies, Ltd., one of the world’s leading global manufacturers and marketers of premium solar power technology, in connection with its concurrent SEC registered public offering of $125 million of its Ordinary Shares and private placement of $33.7 million of its Ordinary Shares to an affiliate of Tianjin Zhonghuan Semiconductor, one of Maxeon’s existing largest shareholders.
  • FirstEnergy subsidiary completes $200 million offering of First Mortgage BondsJones Day represented Monongahela Power Company, an electric public utility subsidiary of FirstEnergy Corp., a diversified energy holding company, in connection with a Rule 144A and Regulation S offering of an additional $200 million aggregate principal amount of its First Mortgage Bonds, 3.55% Series due 2027.
  • Peabody Energy completes comprehensive exchange transactionJones Day represented Peabody Energy Corporation (the "Company"), a large private-sector coal company, in connection with a series of recapitalization transactions to, among other things, provide the Company with maturity extensions and covenant relief, while allowing it to maintain sufficient operating liquidity and financial flexibility, including: (i) an offer to exchange any and all of its outstanding $459 million aggregate principal amount of 6.000% Senior Secured Notes due 2022 (the "Existing Notes") for (a) new 10.000% Senior Secured Notes due 2024 to be co-issued by PIC AU Holdings LLC, a Delaware limited liability company and an indirect, wholly-owned subsidiary of Peabody ("AU HoldingsCo"), and PIC AU Holdings Corporation, a Delaware corporation and an indirect, wholly-owned subsidiary of Peabody ("AU HoldingsCorp" and, together with AU HoldingsCo, the "Co-Issuers"), and (b) new 8.500% Senior Secured Notes due 2024 to be issued by Peabody; and (ii) a restructuring of the revolving loans under the Company's existing credit agreement (the "Existing Credit Agreement") by (a) making a pay down of revolving loans thereunder in the aggregate amount of $10 million, (b) the co-issuers incurring $206 million of term loans under a credit agreement, dated as of January 29, 2021, (c) the Company entering into a letter of credit facility, and (d) the Company amending the existing credit agreement.
  • Cleveland-Cliffs acquires ArcelorMittal USA for approximately $1.4 billionJones Day advised Cleveland-Cliffs Inc. in connection with the acquisition and financing of substantially all of the operations of ArcelorMittal USA for approximately $1.4 billion.
  • Enthusiast Auto Holdings acquires membership interests held by Z1 Motorsports, LLCJones Day represented Enthusiast Auto Holdings, LLC, a platform company of the Cortec Group, and its affiliates in connection with the acquisition and financing of the membership interests held by Z1 Motorsports, LLC, a founder-owned e-commerce distributor of automotive aftermarket parts for Nissan and Infiniti vehicles and headquartered in Carrollton, Georgia.
  • KeyBank provides secured credit facility to NextEdge NetworksJones Day advised KeyBank National Association, as administrative agent, in connection with a secured credit facility provided to NextEdge Networks, a leading provider in turnkey small cell services for outdoor and in-building solutions.