LeeFederman

Partner

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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 18 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.

Esperienze

  • Diebold Nixdorf obtains $1.25 billion senior secured exit credit facilityJones Day represented Diebold Nixdorf, Incorporated, a multinational financial and retail technology company that specializes in the sale, manufacture, installation, and service of self-service transaction systems (such as ATMs and currency processing systems), point-of-sale terminals, physical security products, and software and related services for global financial, retail, and commercial markets, in connection with a new $1.25 billion senior secured term loan facility as part of it’s emergence from chapter 11 bankruptcy and other domestic and foreign court-supervised restructuring proceedings.
  • Diebold Nixdorf successfully restructures over $2.7 billion in funded debt and completes the first-ever dual proceeding under the U.S. bankruptcy code and Dutch restructuring law in 71 daysIn the first-ever cross border restructuring involving dual main proceedings under chapter 11 of the U.S. Bankruptcy Code and a scheme of arrangement (the "Dutch Scheme") under the Dutch Act on Confirmation of Extrajudicial Plans (Wet Homologatie Onderhands Akkoord ("WHOA")), and the first-ever chapter 15 recognition of Dutch Scheme proceedings and a sanctioned WHOA reorganization plan (the "WHOA Plan"), Jones Day represented Diebold Nixdorf, Incorporated ("Diebold") and certain of its U.S. and Canadian subsidiaries (the "Debtors") in connection with (i) the prepackaged chapter 11 cases of In re Diebold Holding Company, LLC, et al., (Case No. 23-90602-DRJ) commenced on June 1, 2023, in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"); (ii) the Dutch Scheme, commenced on June 1, 2023 by Diebold Nixdorf Dutch Holding B.V. (the "Dutch Issuer") in the District Court of Amsterdam (the "Dutch Court"), and (iii) the chapter 15 proceedings before the Bankruptcy Court commenced by the foreign representative of the Dutch Issuer, wherein the Bankruptcy Court recognized the Dutch Scheme proceeding as a foreign main proceeding and recognized and extended comity to the WHOA Plan that was sanctioned by the Dutch Court.
  • OakNorth finances Quadrivio Group's leveraged buyout of The Private ClinicJones Day advised OakNorth Bank plc in connection with its financing of the acquisition of The Private Clinic, a UK provider of advanced cosmetic treatments, by Silver Economy Fund, an Italian private equity fund managed by Quadrivio Group.
  • Macquarie acquires 50% of Enel Green Power HellasJones Day represented Macquarie Asset Management, via Macquarie GIG Renewable Energy Fund 2 SCSp, in its acquisition of 50% of Enel Green Power Hellas from Enel Green Power S.p.A. for an enterprise value of approximately €980 million.
  • OakNorth finances Heartwood CollectionJones Day advised OakNorth Bank plc on its financing for leading UK hospitality and pub group Heartwood Collection.
  • Riverside sells Guestline to Access GroupJones Day represented The Riverside Company in connection with the sale of portfolio company Guestline, a UK-based provider of mission critical software for the hospitality sector, to Access Group.
  • Fortrea completes $570 million private placement of Senior Secured Notes and obtains $1.5 billion credit facilityJones Day represented Fortrea Holdings Inc., a leading global contract research organization (“CRO”) that provides comprehensive phase I through IV biopharmaceutical product and medical device services, patient access solutions and other enabling services, in connection with the Rule 144A and Regulation S offering of $570 million aggregate principal amount of 7.500% Senior Secured Notes due 2030 and a $1.5 billion senior secured credit facility as part of its spin-off from Laboratory Corporation of America Holdings.
  • Leading UK bar and restaurant operator agrees to £42 million debt refinancingJones Day advised a leading UK bar and restaurant operator in connection with its £42 million refinancing facilities.
  • OakNorth finances acquisition of UK Storage CompanyJones Day advised OakNorth Bank plc in connection with its financing of the buyout of UK Storage Company by a consortium led by investment funds advised by Davidson Kempner Capital Management LP and operating partner Pithos Capital.
  • Diebold Nixdorf obtains $1.25 billion senior secured superpriority DIP credit facilityJones Day is representing Diebold Nixdorf, Incorporated (the “Company”), a multinational financial and retail technology company that specializes in the sale, manufacture, installation, and service of self-service transaction systems (such as ATMs and currency processing systems), point-of-sale terminals, physical security products, and software and related services for global financial, retail, and commercial markets, and certain of its domestic and foreign subsidiaries (collectively, the “Debtors”) in (i) a pre-packaged chapter 11 proceeding in front of the U.S. Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”), (ii) a scheme of arrangement by Diebold Nixdorf Dutch Holding B.V. (the “Dutch Issuer”) and the related voluntary proceeding in front of the District Court of Amsterdam under the Dutch Act on Confirmation of Extrajudicial Plans (Wet Homologatie Onderhands Akkoord), and (iii) an anticipated proceeding commenced by the Dutch Issuer under chapter 15 in the Bankruptcy Court, seeking recognition of such scheme of arrangement.
  • U.S. financial institution provides certain secured debt facilities to corporate borrower to finance acquisition in UK software sectorJones Day advised a U.S. financial institution on certain secured debt facilities made available to a corporate borrower to finance an acquisition in the UK software sector.
  • KBC Bank finances acquisition of Jonckers Translation & Engineering SRL by Mayfair Equity PartnersJones Day acted as legal counsel to KBC Bank NV, as lender, in connection with the financing of the acquisition of Jonckers Translation & Engineering SRL and its subsidiaries by Mayfair Equity Partners.
  • MassMutual negotiates and documents €100 million revolving credit facility to SPV, managed by leading global investment firmJones Day represented Massachusetts Mutual Life Insurance Company, as lead lender and servicer, in negotiating and documenting a €100 million revolving credit facility provided to a special purpose vehicle under the management of a leading global investment firm.
  • Stellex completes buyout of David Brown Santasalo GroupJones Day advised Stellex Capital Management LLC on its buyout of DB Santasalo S.à r.l from N4 Partners.
  • OakNorth provides growth financing for Lovett CareJones Day advised OakNorth Bank plc in connection with certain bespoke secured debt facilities to finance the strategic growth plans of Lovett Care Limited, the UK care home provider.
  • TransDigm completes $1 billion Senior Secured Notes offeringJones Day represented TransDigm Group Incorporated (“TransDigm Group”), a leading global designer, producer, and supplier of highly engineered aircraft components, in connection with the Rule 144A and Regulation S offering by TransDigm Inc., its wholly-owned subsidiary, of $1 billion aggregate principal amount of 6.75% Senior Secured Notes due 2028 (the “Notes”).
  • TransDigm obtains $4.559 billion tranche E and F term loans with Goldman Sachs Bank USA and syndicate of lendersJones Day represented TransDigm Group Incorporated and certain of its subsidiaries in connection with a loan modification and refinancing of its tranche E and F term loans in the aggregate principal amount of approximately $4.559 billion with Goldman Sachs Bank USA, as administrative agent and collateral for a syndicate of lenders.
  • Bank of Montreal provides $800 million reducing revolving credit facility to Nuvei TechnologiesJones Day represented the Bank of Montreal, as administrative agent and a lender, in connection with a $800 million reducing revolving credit facility provided to Nuvei Technologies, Inc., Pivotal Refi LP, and Nuvei Technologies Corp.
  • FLEETCOR acquires Global Reach GroupJones Day advised FLEETCOR Technologies, Inc. in the acquisition of Global Reach Group, a UK-based cross-border payments provider.
  • Citibank provides $400 million unsecured multicurrency credit facility to Deckers Outdoor CorporationJones Day represented Citibank, N.A., as left lead arranger and administrative agent, in connection with a $400 million unsecured multicurrency revolving credit facility provided to Deckers Outdoor Corporation, a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories.
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    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

    February 2019 Reprint

    Market Flex, LexisNexis PSL

    Altre Pubblicazioni

    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

    Seminari e convegni

    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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