Michelle F.Herman

Of Counsel

New York + 1.212.326.8373

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Michelle Herman's areas of practice include aviation, equipment leasing, banking and finance, and other general corporate representations.

Michelle has represented lenders and lessors in a wide range of aviation finance transactions, including leveraged leases, single-investor leases, operating leases, acquisitions and dispositions of lease portfolios, aircraft foreclosures, debt purchases, and sale and leasing of corporate jet aircraft. Her practice also extends to general corporate finance, specifically the representation of financial institutions and other clients extending or receiving credit through unsecured and secured credit facilities.

Prior to joining Jones Day in 2010, Michelle represented the following companies in aviation, equipment leasing, and banking and finance matters: Babcock & Brown, Building Materials Manufacturing Corporation, G-I Holdings, General Motors Corporation, Global Crossing Telecommunications, Lehman Brothers, Oak Hill Capital, Prokom Investments, Silver Point Capital, and Strategic Value Partners.

Michelle has participated in the Lawyers Alliance for New York nonprofit externship program. She is a member of the New York State Bar Association and the Association of the Bar of the City of New York.

Experience

  • Oncor Electric Delivery Company enters into $500 million revolving trade receivables securitization facilityJones Day represented Oncor Electric Delivery Company LLC, a regulated electricity transmission and distribution company, in connection with a $500 million revolving trade receivables securitization facility with MUFG Bank, Ltd., as administrative agent.
  • WestRock Company amends and extends its $700 million accounts receivable securitization facilityJones Day advised WestRock Company, a leader in sustainable, fiber-based packaging solutions, in connection with the amendment and extension of its $700 million accounts receivable securitization facility with Coöperatieve Rabobank U.A., New York Branch.
  • Gray Television enters into $300 million trade receivables facilityJones Day advised Gray Television, Inc., a television broadcast company, in connection with its $300 million trade receivables facility with Wells Fargo Bank, National Association, as administrative agent.
  • Leading specialty and materials company amends and restates its receivables purchase and servicing agreementJones Day acted as transaction counsel in connection with an amendment and restatement of a leading specialty and materials company's receivables purchase and servicing agreement to incorporate, amongst others, an additional originator and to increase the programme amount.
  • MassMutual and its affiliate invest in newly formed limited partnership formed for purpose of acquiring redeemable Common Stock of SPACsJones Day represented Massachusetts Mutual Life Insurance Company and its affiliate in connection with an investment, in the form of a term loan and equity contribution, to a newly formed limited partnership formed for the purpose of acquiring and trading in redeemable Common Stock issued by Special Purpose Acquisition Companies (SPACs).
  • WESCO International obtains $100 million incremental increase to its receivables securitization facility with PNC BankJones Day represented WESCO International, Inc., a global electrical, communications and utility distribution and supply chain solutions company, in connection with a $100 million incremental increase to its receivables securitization facility with PNC Bank, National Association, as administrator, bringing the total size of the facility to $1.625 billion.
  • Flowers Foods amends and extends its $200 million trade receivable securitization programJones Day represented Flowers Foods, Inc. in connection with the amendment and extension of its $200 million trade receivable securitization program.
  • MassMutual enters into approximate $840 million transaction for purchase and financing of natural gas assets located in Pennsylvania and West VirginiaJones Day represented Massachusetts Mutual Life Insurance Company and MassMutual Ascend Life Insurance Company in connection with (a) the acquisition and financing of asset-backed notes and certificates the proceeds of which were used to acquire proved, developed, and producing ("PDP") natural gas assets in Pennsylvania and West Virginia and (b) the formation of a limited partnership and the subsequent acquisition of six proven-undeveloped natural gas wells located in Pennsylvania and West Virgina.
  • Major distributor of alcoholic beverages amends and restates its $175 million asset-based loan facilityJones Day represented a major distributor of alcoholic beverages in connection with the amendment and restatement of its $175 million asset-based loan facility, automatically increasing to $230 million on the anniversary of the closing date or sooner upon request.
  • Leading supplier to global rail industry amends and extends its $350 million receivables facilityJones Day advised a leading supplier to the global rail industry in connection with the amendment and extension of its $350 million receivables facility.
  • WESCO International obtains $125 million incremental increase to its receivables securitization facility with PNC BankJones Day represented WESCO International, Inc., a global electrical, communications and utility distribution and supply chain solutions company, in connection with a $125 million incremental increase to its receivables securitization facility with PNC Bank, National Association, as administrator, bringing the total size of the facility to $1.525 billion.
  • Wells Fargo provides $475 million senior loan facility secured by portfolio of 12 multifamily properties across multiple statesJones Day represented Wells Fargo Bank, National Association, as administrative agent, in connection with the origination of a $475 million senior loan facility secured by 12 multifamily properties across Arizona, California, and Illinois.
  • MassMutual closes $1.5 billion structured term loan secured by company's intellectual propertyJones Day represented Massachusetts Mutual Life Insurance Company and MassMutual Intellectual Property LLC in connection with refinancing a $1.5 billion structured term loan secured by intellectual property.
  • OUTFRONT Media refinances $150 million receivables facilityJones Day advised OUTFRONT Media Inc., one of the largest providers of advertising space on out-of-home advertising structures and sites in the United States and Canada, in connection with the amendment and extension of its $150 million receivables facility with MUFG Bank, Ltd.
  • PNC Bank leads syndicate of lenders on amendment, restatement, and increase of existing syndicated senior secured credit facility for ICF International, Inc.; ICF Consulting Group, Inc.; and certain of their affiliatesJones Day represented PNC Bank, National Association, as administrative agent, in connection with the amendment, restatement, and increase of an existing syndicated senior secured revolving credit, term loan, and delayed draw term loan facility for ICF International, Inc., ICF Consulting Group, Inc., and certain of their affiliates.
  • Major distributor of alcoholic beverages amends and extends $75 million revolving credit facilityJones Day represented a major distributor of alcoholic beverages in connection with an amendment and extension of it $75 million revolving credit facility with Wells Fargo Bank, National Association, as administrative agent.
  • MassMutual and affiliate Great American Life Insurance Company enter into financing arrangement with others to purchase approximately $800 million of asset-backed notes to fund acquisition of natural gas assets located in TexasJones Day represented Massachusetts Mutual Life Insurance Company and Great American Life Insurance Company in connection with the issuance and purchase of approximately $800 million of asset-backed notes and certificates, the proceeds of which are being used to acquire natural gas assets located in Texas.
  • WESCO International obtains $100 million incremental increase to receivables securitization facility with PNC BankJones Day represented WESCO International, Inc., a global electrical, communications and utility distribution and supply chain solutions company, in connection with a $100 million incremental increase to its receivables securitization facility with PNC Bank, National Association, as administrator, bringing the total size of the facility to $1.4 billion.
  • Major distributor of alcoholic beverages amends and extends $150 million revolving credit facilityJones Day represented a major distributor of alcoholic beverages in connection with an amendment and extension of its $150 million revolving credit facility.
  • MassMutual purchases $300 million of asset-backed notes secured by small business and consumer loansJones Day represented Massachusetts Mutual Life Insurance Company and Great American Life Insurance Company in connection with the purchase of approximately $300 million of asset-backed notes secured by small business and consumer loans originated on a variety of marketplace lending platforms.
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    Fall 2012 Jones Day Publications

    Airlines and Aviation Alert

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