Lee Federman

Partner

London + 44.20.7039.5928

Connect:

Share

Lee Federman has represented financial institutions, direct lenders, hedge funds, financial sponsors, and corporates in complex event-driven financing transactions for more than 20 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, fund level financings, and subordinated debt financings. He also has substantial crisis management experience, helping clients navigate through financial distress and debt restructurings.

Lee's recent transactions include advising Koch Real Estate Investments on the financing for its £6.3 billion bid with Fortress for Wm Morrison Supermarkets, Orange Spain on the financing of its $19 billion merger with Masmovil, Macquarie European Infrastructure Fund 6 SCSp on the financing of its acquisition of Beauparc Utilities, Bally's Corporation on the acquisition financing of its $2.7 billion take private of Gamesys plc, STERIS plc on its $2.55 billion financing package for the acquisition of Cantel Medical, Global City Theatres BV on the restructuring of its investment in Cineworld Group plc, the senior secured lenders on the $1.1 billion debt restructuring of the syncreon group, and a leading direct lender on a €750 million secured credit facility to a global payment services provider.

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 and other industry bodies.

Experience

  • PNC Bank leads syndicate of lenders on incremental increase and amendment to existing senior secured revolving and term loan credit facilities for global professional sound reinforcement and live touring production support companyJones Day represented PNC Bank, National Association, administrative agent on the arrangement, syndication, and documentation of a $100 million incremental increase to existing $620 million senior secured revolving and term loan credit facilities, for a professional sound reinforcement and live touring production support company.
  • Parker acquires Curtis InstrumentsJones Day is advising Parker Hannifin Corporation in the approximately $1 billion acquisition of Curtis Instruments, Inc. from Rehlko (f/k/a Kohler Energy), a Platinum Equity portfolio company.
  • CareTrust REIT takes Care REIT plc privateJones Day is advising CareTrust REIT, Inc. in the $817 million recommended all cash takeover offer for and acquisition of London listed Care REIT plc by CR United Bidco Ltd, a wholly-owned subsidiary of CareTrust.
  • True Capital invests in German Doner KebabJones Day advised True Capital in its strategic investment in German Doner Kebab, a franchisor of quick serve kebab restaurants headquartered in the UK.
  • Macquarie Asset Management acquires additional stake in Island Green PowerJones Day advised Macquarie Asset Management in the acquisition of the remaining 50% of the shares in Island Green Power Limited (IGP), a UK-based renewable energy developer focused primarily on the development of utility-scale solar plants.
  • Sanofi to separate its consumer healthcare business, OpellaJones Day acted as securities law counsel in the separation of Opella, Sanofi's consumer healthcare business, and the sale of a 50% controlling stake to CD&R.
  • Direct lender provides delayed draw term loan commitments and revolving commitments to fund large sponsor-backed company's acquisition of Dutch entitiesJones Day advised a direct lender, as administrative agent, collateral agent, sole lead arranger, and lender, in connection with an amendment to the credit facility of a large sponsor-backed borrower, which included an increase in delayed draw term loan commitments and revolving commitments.
  • PNC Bank provides $1.3 billion syndicated unsecured revolving credit facility to leading manufacturer and supplier of industrial safety equipmentJones Day represented PNC Bank, National Association, as administrative agent, in connection with a $1.3 billion syndicated unsecured revolving credit facility provided to a leading manufacturer and supplier of industrial safety equipment.
  • TriMas amends its $250 million credit facilityJones Day represented TriMas Corporation, a diversified manufacturer of engineering products that serve a variety of industrial, commercial, and consumer end markets worldwide, in connection with an amendment and extension of its $250 million revolving credit facility with JPMorgan Chase Bank, N.A.
  • PNC Bank leads syndicate of lenders on amended and restated senior secured credit facilities for professional sound reinforcement and live touring production support companyJones Day represented PNC Bank, National Association, as administrative agent, in connection with the arrangement, syndication, and documentation of upsized and extended senior secured credit facilities, consisting of a $350 million revolving working capital credit facility, a $200 million term loan, and a $70 million revolving term-out facility, provided to a professional sound reinforcement and live touring production support company, to be used for the company’s build-out of its new headquarters.
  • J.F. Lehman & Company acquires WristJones Day advised J.F. Lehman & Company in the acquisition of a majority shareholding of W.S.S. Holding A/S and its subsidiaries, global leaders in marine supply, logistics and budget management services for the maritime industry.
  • J.F. Lehman & Company sells Integrated Global ServicesJones Day advised J.F. Lehman & Company Sale of Integrated Global Services, Inc., a leading international provider of surface protection solutions, to American Securities.
  • J.F. Lehman & Company completes sale of Global Marine GroupJones Day advised J.F. Lehman & Company in the sale of the Global Marine Group, subsea telecom maintenance and installation services, supporting mission-critical global communications infrastructure, to Keppel Infrastructure Fund.
  • ABM amends and extends its $2.2 billion credit facilityJones Day advised ABM Industries Incorporated (NYSE: ABM), a leading provider of facility solutions, in connection with an amendment and extension to its existing credit facility with Bank of America, N.A., as administrative agent, which provides for an aggregate principal amount of commitments under the dollar and multicurrency revolving credit facilities of $1.6 billion and an aggregate principal amount of commitments under the term facility of $600 million.
  • Beauparc reprices its €645 million term loan B arranged by Goldman SachsJones Day represented Beauparc and its sponsor Macquarie European Infrastructure Fund 6 on the repricing of Beauparc’s €645 million term loan B.
  • Macquarie acquires ZitonJones Day advised Macquarie European Infrastructure Fund 7 SCSp, a fund advised by Macquarie Asset Management, on its acquisition and financing of Ziton A/S.
  • Barings Direct and MassMutual negotiate and document €150 million revolving credit facility provided to Luxembourg SPV, managed by leading global investment firmJones Day represented Barings Direct Investments LLC, as servicer, and Massachusetts Mutual Life Insurance Company and MassMutual Ascend Life Insurance Company, as lenders, in negotiating and documenting a €150 million revolving credit facility provided to a Luxembourg special purpose vehicle under the management of a leading global investment firm, with Alter Domus Agency Services (UK) Limited and Alter Domus Trustees (UK) Limited serving as administrative agent and collateral agent, respectively.
  • Global information management system provider agrees to $280 million senior secured credit facilitiesJones Day advised a leading information management system provider and various affiliates in connection with a $280 million cross-border senior secured financing with various private credit providers.
  • Citibank provides multicurrency secured credit facility to Tanks US Buyer Inc. and Tanks International Buyer B.V.Jones Day represented Citibank, N.A., as administrative agent, joint lead arranger, and joint bookrunner, in connection with a $295 million secured multicurrency letter of credit and revolving credit facility provided to Tanks US Buyer Inc. and Tanks International Buyer B.V.
  • Belfius Bank, ING Belgium, KBC Bank, and Caisse d'Epargne et de Prévoyance Hauts de France amend and increase existing financing to Equine Care GroupJones Day acted as counsel to Belfius Bank SA/NV, ING Belgium NV/SA, KBC Bank NV, and Caisse d'Epargne et de Prévoyance Hauts de France, as lenders, in connection with the amendment and increase of the existing financing granted to the Equine Care Group, an international provider of high-quality equine care through specialist equine clinics, ambulatory care,and nutrition/supplements, for the purpose of, amongst others, acquiring the Belgian companies Roose BV and Westpaille BV.
    • View All

    November 2023 White Paper

    Double-Dip Financings: The Next Wave in European Liability Management?

    November 2023 Reprint

    Don’t put all your debt in one basket: debt incurrence flexibility in leveraged finance transactions, Butterworths Journal of International Banking and Financial Law

    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 Commentary

    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 Reprint

    Stretching Leverage: Holdco PIK Financing Instruments

    March 2019 Reprint

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

    Additional Publications

    • October 30, 2023
      Don't put all your debt in one basket: debt incurrence flexibility in leveraged finance transactions Butterworths Journal of International Banking and Financial Law

    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

    Additional Speaking Engagements

    • December 5, 2023
      LMA Inaugural Private Credit Seminar
    • June 6, 2023
      LMA Leveraged SSRCF / Senior Direct Lender Term Loan Intercreditor Event
    • November 11, 2019
      LMA Loan Documentation Course

    Before sending, please note:

    Information on www.jonesday.com is for general use and is not legal advice. The mailing of this email is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Anything that you send to anyone at our Firm will not be confidential or privileged unless we have agreed to represent you. If you send this email, you confirm that you have read and understand this notice.