Brian D.Trudgen

Partner

Pittsburgh + 1.412.394.9540

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Brian Trudgen represents a variety of leading banks, public and private companies, and private equity funds. He represents both traditional and private lenders and borrowers in a wide variety of investment grade, leveraged, asset-based, subordinated, mezzanine, and acquisition financing, in both cross-border and domestic transactions.

Over the course of 20 years in practice, Brian has assisted clients in a broad range of financing matters involving wrap collateral structures, aircraft, vessels, railcars, federal government receivables, titled equipment, financial instruments, tribal law, and gaming.

Brian is a member of the Firm's LIBOR Transition Working Group, ESG Working Group, and Opinion Committee. He is also a frequent presenter on ESG (environmental, social, and governance), electronic signature, capital markets, and secured lending matters at continuing legal education and client training programs.

Experience

  • 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.
  • MassMutual provides $71.3 million term loan series facility to top-tier public REITJones Day represented Massachusetts Mutual Life Insurance Company, as lead lender, in connection with a $71.3 million term loan series facility provided to a top-tier public REIT.
  • Riverside portfolio company acquires Transplant ConnectJones Day represented The Riverside Company in connection with the acquisition and financing by portfolio company inVita Healthcare Technologies of Transplant Connect, whose iTransplantSM software facilitates the donation, transplantation and research of human biologics (including organs, tissues, corneas and birth tissue).
  • Dorilton Capital portfolio company acquires A&A TransferJones Day represented Dorilton Capital in the acquisition by portfolio company MEI Rigging & Crating, LLC of A&A Transfer, LLC, a leading full-service industrial rigging, storage, and hauling company in the Washington, D.C., Maryland and Virginia area.
  • American Pacific Group portfolio company acquires BioTRUST Nutrition® LLCJones Day advised American Pacific Group in connection with the acquisition and financing of BioTRUST Nutrition® LLC, a fast-growing, leading eCommerce nutrition brand with a portfolio of high-quality, science-based products that span protein, collagen, healthy living, anti-aging, and digestive health, by one of its portfolio companies, Wellbeam Consumer Health, LLC.
  • Montauk Energy Holdings amends existing senior secured revolving credit and term loan facilityJones Day represented Montauk Energy Holdings, LLC, as borrower, and certain of its affiliates as guarantors, in connection with a fourth amendment and joinder to their existing senior secured revolving credit and term loan facility with Comerica Bank, as agent.
  • Blue Point Capital Partners acquires Stax Inc.Jones Day represented Blue Point Capital Partners in connection with the acquisition and financing of Stax Inc., an analytically-driven M&A strategy consulting firm that specializes in commercial due diligence, value creation and exit planning analyses for investment banks, private equity firms, and PE-backed companies.
  • PNC Bank-led syndicate provides $700 million unsecured amended and restated multi-currency revolving credit facility to publicly traded companyJones Day represented PNC Bank, National Association, as administrative agent, in connection with a $700 million syndicated unsecured amended and restated multi-currency revolving credit facility provided to a publicly traded company.
  • American Pacific Group portfolio company acquires TruSkinJones Day advised American Pacific Group, a San Francisco-based private equity firm, in connection with the acquisition and financing by portfolio company Wellbeam Consumer Health of TruSkin, a leading skincare brand.
  • Leading automotive components and systems supplier obtains $100 million senior secured term loan facilityJones Day represented a leading automotive components and systems supplier in connection with a $100 million senior secured term loan facility.
  • Noble Environmental acquires GFL landfills, collection assets in Pennsylvania and MarylandJones Day advised Noble Environmental Inc. in the acquisition of multiple disposal, transfer and collections assets in Pennsylvania and Maryland from GFL Environmental Inc.
  • U.S. Steel sells Transtar, LLC to Fortress Transportation and Infrastructure Investors for $640 millionJones Day represented United States Steel Corporation, an integrated steel producer with major production operations in the United States and Central Europe, in connection with the sale of its wholly owned short-line railroad subsidiary, Transtar, LLC, to a subsidiary of Fortress Transportation and Infrastructure Investors LLC for $640 million.
  • PNC leads $900 million revolving credit facility for manufacturer and supplier of products that protect health and safetyJones Day represented PNC Bank, National Association, as administrative agent, and PNC Capital Markets LLC, as joint lead arranger and joint bookrunner, in connection with a fourth amended and restated credit agreement for a manufacturer and supplier of products that protect health and safety, providing a $900 million revolving loan facility.
  • Coronado Global Resources completes US$550 million in combined financingJones Day represented Coronado Global Resources Inc., in connection with (i) an offering of US$350 million aggregate principal amount of 10.750% Senior Secured Notes due 2026, (ii) a secured asset-based revolving credit agreement in an initial aggregate principal amount of US$100 million, and (iii) an offering of US$100 million aggregate principal amount of shares of its Common Stock in the form of CHESS Depositary Interests, which are listed on the Australian Stock Exchange.
  • Genesis Healthcare Partners creates partnership with Triton Pacific Capital Partners to form Urology Partners of AmericaJones Day represented Genesis Healthcare Partners, P.C., a large San Diego-based physician group specializing in comprehensive urologic care, including radiation oncology and gastroenterology, in its sale to Urology Partners of America, LLC, a newly-formed national urology platform backed by Triton Pacific Capital Partners.
  • Medifast obtains $125 million revolving credit facilityJones Day represented Medifast, Inc., an American nutrition and weight loss company, in connection with a $125 million senior secured revolving credit facility with Citibank, N.A., as administrative agent.
  • Riverside portfolio company acquires Evolution Labs, Inc.Jones Day represented The Riverside Company in connection with the acquisition by portfolio company Navigate360, LLC of Evolution Labs, Inc., a leading developer of social-emotional, mental health and safety content and learning management software for K-12 students and college students.
  • PNC Bank provides $100 million senior secured revolving credit facility to public utilityJones Day advised PNC Bank, National Association, as administrative agent and lender, in connection with a $100 million senior secured revolving credit facility provided to a public utility.
  • Riverside portfolio company acquires P3 Global Intel business from Anderson Software, LLCJones Day represented The Riverside Company in connection with the acquisition by portfolio company Navigate360, LLC of P3 Global Intel, a developer of tip and intelligence management software which provides school administrators and law enforcement with a seamless and efficient solution to address significant health and safety concerns, from Anderson Software, LLC.
  • Privately held company obtains term loan and amends existing credit agreementJones Day represented a privately held company in connection with a senior secured subordinated term loan from a fund and an amendment to its existing credit and security agreement, lease documents, and equipment notes with a national bank.

    • The following represents experience acquired prior to joining Jones Day.

    Multi-Lender Credit Facilities

    Served as counsel to the administrative agent and lead arranger in connection with a $1.6 billion unsecured credit facility for a publically traded manufacturing company borrower, the proceeds of which were used to refinance existing indebtedness and for working capital.

    Served as counsel to the administrative agent and lead arranger in a $130 million asset-based credit facility for a publically traded manufacturing company borrower, the proceeds of which were used to refinance existing indebtedness and for working capital. The credit facility included U.S., Canadian, French, and English tranches of debt with obligors and collateral in those jurisdictions.

    Served as counsel to the administrative agent and lead arranger in connection with an $800 million credit facility for a public company borrower, the proceeds of which were used to refinance existing indebtedness and to financing the acquisition of a group of companies in the wood treatment industry. The obligations under the credit facility were secured equally and ratably with the company's outstanding notes pursuant to the terms of a collateral trust agreement.

    Served as counsel to the administrative agent and lead arranger in connection with a $200 million unsecured credit facility for a public company borrower in the railroad and transportation industries.

    Served as counsel to the administrative agent and lead arranger in connection with $120 million in senior secured credit facilities, including a tranche of $50 million in economic development revenue bonds, for a privately held company in the meat packing industry.

    Served as counsel to the administrative agent and lead arranger in a $335 million asset-based credit facility for a national petroleum company.

    Served as counsel to the administrative agent and lead arranger in connection with a $202 million senior secured credit facility to finance the acquisition of the stock of a specialty metals company. The credit facility also involved the merger of the acquired company into the borrower, as well as the negotiation of a subordination agreement with third-party lenders who helped to finance the acquisition.

    Served as counsel to the administrative agent and lead arranger with respect to a $400 million unsecured credit facility provided to an investment-grade, public company borrower.

    Served as counsel to the administrative agent and lead arranger with respect to a $400 million senior secured credit facility provided to a vertically integrated, global vision company and 35 of its domestic subsidiaries. The credit facility was guaranteed by the borrower's nonprofit insurance company parent, which implicated various regulatory issues in the structuring and documentation of the guaranty agreement.

    Served as counsel to the administrative agent and lead arranger with respect to approximately $160 million in senior secured credit facilities consisting of first lien, second lien, and fully subordinated tranches of debt for a specialized manufacturing company with U.S. and Canadian operations.

    Served as counsel to the administrative agent, collateral agent, sole lead arranger, and sole bookrunner with respect to an $85 million revolving credit facility with a $25 million export-related subfacility, which was guaranteed by the Export-Import Bank of the United States under a fast-track working capital guaranty program for a global specialty chemicals company. The credit facilities were secured by first/second priority liens in all of the company's domestic assets with inverse first/second priority liens granted in connection with a simultaneous high yield debt offering (wrap collateral structure).

    Single-Lender Credit Facilities

    Served as counsel to a bank with respect to the issuance of an $80 million letter of credit used to provide credit enhancement and liquidity support for certain industrial development bonds. The facility was secured by a gross revenue pledge of the members of the obligated group under two separate master indentures.

    Served as counsel to a financial institution in connection with a $100 million term loan made to a processing company, the proceeds of which were used to refinance a tranche of notes issued pursuant to senior notes offering.

    Served as counsel to a financial institution in connection with a $90 million credit facility that included a $50 million revolving credit facility and a $40 million term loan facility for a holding company that owns and operates various equipment manufacturers and a marine transportation provider.

    Served as counsel to a financial institution in connection with the structuring, documentation, and negotiation of a $10 million secured term loan facility provided to a municipal authority in connection with the transfer of the ownership of certain facilities from a private management company to a municipal authority in which the private company continued in its role as the manager of such facilities. The credit facility was secured by a pledge of such transferred assets. In addition, the structuring of the financing arrangements required the resolution of a number of issues that are unique to the context of a public-private partnership, including those related to the municipal authority's power to enter into the public-private partnership with the management company as well as issues related to the authority's acquisition of and granting security interests in assets.

    Served as counsel to a private equity firm in the purchase of senior subordinated notes used to fund a portion of the acquisition consideration for the leveraged buyout of a services company.

    Served as counsel to the lender in connection with secured bank qualified and non-bank qualified credit facilities for a private, nonprofit assisted living facility operator, the proceeds of which were used to refinance existing indebtedness and for providing working capital.

    Leasing Matters

    Served as counsel to a national equipment leasing company with respect to the purchase of an approximately $21 million portfolio of federal government equipment leases.

    Served as counsel to the lender in connection with the funding of an aircraft lease, where the funding was collateralized by a security interest in the aircraft and an assignment of the funded lease.

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