LeeFederman

Partner

London + 44.20.7039.5928

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Lee Federman has represented financial institutions, direct lenders, hedge funds, financial sponsors, and corporates in complex event-driven financing transactions for more than 15 years. Lee has worked in several key financial jurisdictions (London, New York, Hong Kong, and Amsterdam) across a broad range of industries, including energy, health care, infrastructure, leisure, and telecommunications. His domestic and cross-border experience includes advising on leveraged and other structured financings, including infrastructure financings, bank/bond financings, margin loans, and subordinated debt financings. He also has substantial crisis management experience, helping clients navigate through financial distress and debt restructurings.

Lee worked with Credit Suisse and Lehman Brothers International (Europe) on secondment assignments. He regularly holds training programs and is a presenter at conferences for the Loan Market Association.

Experience

  • Bally's to acquire Gamesys for $2.7 billionJones Day is advising Bally's Corporation in its $2.7 billion acquisition of Gamesys Ltd., an LSE-listed online gaming company.
  • STERIS signs $2.55 billion financing package in connection with acquisition of Cantel MedicalJones Day represented STERIS plc, a leading provider of infection prevention and other procedural products and services, in connection with a new (i) $1.25 billion revolving credit facility, (ii) $550 million term loan facility, and (iii) $750 million delayed draw term loan facility with JPMorgan Chase Bank, N.A., as administrative agent, the proceeds of which will be used, in part, to finance the acquisition of Cantel Medical Corp, a global provider of infection prevention products and services primarily to endoscopy and dental customers.
  • Atlas Arteria establishes new capital structure for Warnow Tunnel in GermanyJones Day advised Atlas Arteria, a global owner, operator, and developer of toll roads, on a new approximately 29-year debt facility for its Warnow Tunnel in Germany as part of a capital restructuring.
  • Direct lenders provide €750 million secured facility to global payments service providerJones Day advised a direct lender in connection with its investment in a €750 million secured facility to a global payments service provider for the purposes of refinancing existing indebtedness and providing growth capital.
  • Ferro Corporation sells its global Tile Coatings Business to Lone Star Funds for $460 millionJones Day advised Ferro Corporation, a leading global supplier of technology-based performance materials, in the sale of its global Tile Coatings Business to Pigments Spain, S.L., a portfolio company of Lone Star Funds, for $460 million in cash, with potential earnout payments of up to $32 million in cash based on the performance of the business pre-closing, subject to customary adjustments.
  • STERIS to acquire Cantel Medical for $3.6 billionJones Day is advising STERIS plc in its acquisition of Cantel Medical Corp, a global provider of infection prevention products and services primarily to endoscopy and dental customers, for $3.6 billion.
  • Amsterdam Trade Bank N.V. provides secured financing to FIBR CapitalJones Day advised Amsterdam Trade Bank N.V. in connection with a loan-on-loan financing provided to FIBR Capital Ltd., a UK-based provider of finance solutions to small and medium sized enterprises (SMEs).
  • OakNorth refinances Staycity GroupJones Day advised OakNorth Bank plc in connection with its refinancing of the Staycity Group, an Irish-owned pan European aparthotel business with 21 properties across the UK, France, Ireland, Italy, and Germany.
  • Koch Equity Development invests preferred equity in AIM listed Victoria plcJones Day advised Koch Equity Development LLC ("KED"), the acquisition and investment subsidiary of Koch Industries, Inc., on its investment into AIM listed Victoria plc ("Victoria"), a UK-based global designer, manufacturer, and distributor of flooring products.
  • Lucid Trustee Services Limited acts as agent and security agent in £450 million restructuring of Survitec GroupJones Day represented Lucid Trustee Services Limited, as agent and security agent, in connection with the £450 million debt and equity restructuring of the Survitec Group, a specialist in the manufacturing of survival and safety solutions in the marine, defense, aviation, and offshore industries in various jurisdictions.
  • Kartesia Management restructures and refinances ORAPI and its holding company La Financière MG3FJones Day advised Kartesia Management SA in connection with the conciliation procedure, restructuring, and refinancing of ORAPI and the refinancing and restructuring of its holding company La Financière MG3F through multiple equity and debt instruments.
  • Goldman sold iQ Student Accommodation dorms to Blackstone for £4.66 billionOn May 15, 2020, Jones Day clients Goldman Sachs Merchant Banking Division and the Wellcome Trust completed the sale of iQ Student Accommodation to Blackstone for £4.66 billion (US$5.73 billion), representing the largest ever private real estate transaction in the UK.
  • OMNOVA acquired by Synthomer plc for $824 millionJones Day advised OMNOVA Solutions Inc. in its $824 million acquisition by Synthomer plc, a United Kingdom-based specialty chemical company.
  • KeyBank provides $2.14 billion credit facility to Cooper CompaniesJones Day represented KeyBank National Association, as administrative agent, in connection with a $2.14 billion credit facility consisting of a $850 million term loan facility and a $1.29 billion multicurrency revolving credit facility provided to The Cooper Companies, Inc., a global medical device company.
  • Restructuring of significant UK energy supplier and distributorJones Day advised a large integrated energy and commodities company in connection with the complex equity and debt restructuring of a significant UK energy supplier and distributor.
  • ING Belgium, Belfius Bank, and Global Loan Agency Services Limited finance acquisition of Grandeco Wallfashion GroupJones Day acted as legal counsel to ING Belgium SA/NV and Belfius Bank SA/NV, as lenders, and Global Loan Agency Services Limited, as agent, in connection with the financing of the acquisition of Grandeco Wallfashion Group - Belgium NV, a leading wallpaper producer, and its direct and indirect subsidiaries by, amongst others, Down2Earth Capital II CommV and Gimv NV.
  • Largest Cineworld shareholder refinancesJones Day advised Global City Theatres B.V., (GCT), the largest shareholder of Cineworld Group plc (Cineworld), Regal in the U.S., as lead counsel on its debt refinancing and related capital market aspects.
  • Macquarie sold Condor FerriesJones Day advised Macquarie Infrastructure and Real Assets in the sale of Condor Ferries, an operator of lifeline freight and passenger ferry services between Guernsey, Jersey, the United Kingdom, and the Port of St. Malo in France, to a consortium of Columbia Threadneedle European Sustainable Infrastructure Fund (ESIF) and Brittany Ferries.
  • J.F. Lehman acquires Global Marine GroupJones Day advised long-standing client J.F. Lehman & Company, a leading middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government, and environmental sectors, in connection with the acquisition and related financing of Global Marine Group.
  • CBRE acquires Laxfield CapitalJones Day represented CBRE Global Investors in connection with its acquisition of Laxfield Capital, a real estate debt investment business with £818 million of assets under management in the United Kingdom.
    • View All

    February 2021 External Publications

    Extracting value from leveraged businesses: the case of McLaren and its bondholders, Corporate Rescue and Insolvency

    February 2021 External Publications

    Jumping the line: priming restructuring transactions during the COVID-19 crisis, Butterworths Journal of International Banking and Financial Law

    December 2020 Commentaries

    European Government Support Schemes: Current State of Play

    November 2020 External Publications

    Unitranche Financing: An Introduction, LexisNexis PSL.

    October 2020 White Paper

    Extracting Value from Leveraged Businesses: The Case of McLaren and its Bondholders

    June 2020 White Paper

    Financial Government Support Measures Related to COVID-19 for European Corporates

    January 2020 Reprints

    Stretching Leverage: Holdco PIK Financing Instruments

    March 2019 Reprints

    Easier said than done: The failure of the European Central Bank's Guidance on Leveraged Transactions, Butterworths Journal of International Banking and Finance Law

    February 2019 Reprints

    Market Flex, LexisNexis PSL

    Additional Publications

    Publications Prior to Jones Day

    May 2018
    Permitted acquisitions: how much flexibility can borrowers expect?
    Butterworths Journal of International Banking and Financial Law

    March 2018
    Private Debt: Brexit Effect on UK loan market
    International Financial Law Review

    Speaking Engagements

    Speaking Engagements Prior to Jones Day

    May 2018
    Leverage Finance:  European Market Update, London

    April 2018
    LMA Loan Market Hot Topics, Lagos

    October 2017
    Closing the Deal, Johannesburg

    May 2017
    Recent Trends in Leveraged Finance, London

    November 2015
    Structuring Cross Border Financings, Toronto

    October 2015
    Unitranche Facilities and Other Trends in Leveraged Finance, Paris
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