KimDesmarais

Partner

New York + 1.212.326.3414

Connect:

Share

Kim Desmarais has successfully acted as lead counsel on complex U.S. and cross-border financings across a broad range of industries for two decades. She has a strong leveraged lending background and represents borrowers, banks, private debt funds, commercial finance companies, and other institutional lenders in a variety of secured and unsecured transactions, with a particular focus on acquisition finance, asset-based loans, and alternative lending transactions in the funds and fintech sectors. Kim is regularly asked to advise on lending arrangements involving crypto assets and companies in the digital assets industry and is actively involved in Jones Day's global Fintech Working Group. She is also co-coordinator of Jones Day's global, cross-disciplinary IBOR Transition Working Group.

Kim also has extensive experience advising on personal property and other commercial law matters associated with secured financing transactions, with special emphasis on Articles 8 and 9 of the Uniform Commercial Code (UCC). She was an Observer of the Joint Committee of the ALI and ULC responsible for the drafting of the 2022 Amendments to the UCC to address emerging technologies.

Kim is a Fellow of the American College of Commercial Finance Lawyers and has served as secretary of the New York City Bar's Commercial Law and Uniform State Laws Committee.

Experience

  • Oncor Electric Delivery Company obtains $500 million revolving credit facilityJones Day represented Oncor Electric Delivery Company LLC, Texas's largest transmission and distribution electric utility, in connection with the establishment of a $500 million revolving credit facility with Wells Fargo Bank, National Association, as administrative agent.
  • Real estate fund amends its $100 million subscription facilityJones Day represented a real estate fund in connection with the amendment of its $100 million subscription facility, which among other things, extended the maturity of the facility and replaced BSBY with SOFR.
  • Real estate fund amends its $15 million subscription facilityJones Day represented a real estate fund in connection with the amendment of its $15 million subscription facility, which among other things, extended the maturity of the facility, modified the commitment amount and replaced BSBY with SOFR.
  • Spark Networks obtains $110 million senior secured credit facility upon emergence from first-ever cross-border restructuring proceeding under German StaRUG, and recognized by U.S. chapter 15Jones Day represented Spark Networks SE (“Spark”), a Germany-based leading social dating platform, operating worldwide, together with Spark Networks, Inc. and Zoosk Inc., as co-borrowers, in connection with an amended $110 million secured credit facility provided by a U.S.-based private credit fund as part of Spark's emergence from a long-term forbearance and the first-ever cross-border restructuring proceeding under German StaRUG, where such proceeding was recognized under chapter 15 of the U.S. Bankruptcy Code.
  • Spark Networks' German StaRUG plan confirmed in first-ever cross-border restructuring under German StaRUG and U.S. chapter 15Jones Day is representing Spark Networks SE in the first-ever cross-border restructuring under the recently enacted German restructuring law ("StaRUG") and chapter 15 of the U.S. Bankruptcy Code involving over $100 million of funded debt issued by a U.S.-based credit fund and guaranteed by other German and U.S. entities.
  • Accord Catalyst Fund obtains subscription line credit facilityJones Day represented Accord Catalyst Fund in connection with a new subscription line credit facility.
  • Granite Construction obtains $150 million term loanJones Day represented Granite Construction Incorporated, one of the largest diversified construction and construction materials companies in the United States, in connection with a $150 million term loan, which provided financing, in part, of its acquisition of certain stone and gravel supply companies.
  • Digital Bridge Holdings provides $345 million senior secured construction loan to build data center facility in Atlanta, GeorgiaJones Day represented Digital Bridge Holdings, LLC, a leading provider of colocation, interconnection and data services, in connection with a $345 million senior secured construction loan to build a data center facility in Atlanta, Georgia.
  • Large financial institution provides $82.5 million term loan credit facility to mid-market fundJones Day advised a large financial institution, as lender, in connection with a $82.5 million senior secured term loan credit facility provided to a mid-market fund that invests in asset-backed securities and credit-linked notes.
  • Private credit firm and affiliated funds obtain subscription line credit facility in amount up to $150 millionJones Day represented a private credit firm and certain of its funds in the refinancing of such funds’ existing subscription line facility.
  • Lennox obtains $350 million incremental increase to its existing credit facility with JPMorgan Chase Bank, N.A.Jones Day represented Lennox International Inc., a leading global provider of climate control solutions, in connection with an incremental increase of its unsecured credit facilities led by JPMorgan Chase Bank, N.A., as administrative agent for the bank syndicate, which provides for total revolving credit commitments of $1.1 billion.
  • 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.
  • 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.
  • Oncor Electric Delivery Company obtains $150 million term loan facilityJones Day represented Oncor Electric Delivery Company LLC, Texas's largest transmission and distribution electric utility and the fifth largest in the United States, in connection with a $150 million term loan facility.
  • 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.
  • Oncor Electric Delivery Company obtains $625 million term loan facilityJones Day represented Oncor Electric Delivery Company LLC, Texas’s largest transmission and distribution electric utility and the fifth largest in the United States, in connection with a $625 million term loan facility with Toronto Dominion (Texas) LLC, as administrative agent.
  • FTI Consulting refinances and upsizes its senior secured revolving credit facility to $900 millionJones Day represented FTI Consulting, Inc. (“FTI”) in connection with the second amendment and restatement of its senior secured multicurrency revolving credit facility that, among other things, increased the facility from $550 million to $900 million, extended its maturity, replaced LIBOR with new benchmarks, and provides for the ability of FTI to amend the facility, with FTI and required lender consent, to include pricing adjustments based on certain Environmental, Social and Governance (ESG)-related key performance indicators to be established.
  • Alternate investment firm obtains $100 million secured facilitiesJones Day advised a leading alternative investment firm in connection with a $100 million secured holdco back leverage facility secured against its interests in certain portfolio companies.
  • Large financial institution provides $1 billion revolving credit facility to Bio-Techne CorporationJones Day represented a large financial institution, as administrative agent, in connection with a $1 billion revolving credit facility provided to Bio-Techne Corporation, a global life sciences company providing tools and bioactive reagents for the research and clinical diagnostics.
    • View All

    May 2023 Reprint

    Crypto-Based Lending and the 2022 UCC Amendments (The Secured Lender)

    February 2023 Commentary

    New York Department of Financial Services Issues Guidance on Virtual Currency Custodial Services

    December 2020 Alert

    Stay of Execution Proposed for USD LIBOR

    November 2020 Reprint

    The Great Transition: A 2020 LIBOR Transition Recap and Things to Keep in Mind as We Approach 2021

    May 2020 Commentary

    Back to the Well: ARRC Seeks Market Input on Simplifying Spread Adjustment Calculation

    July 2019 Commentary

    Mandatory Summer Reading: SEC Staff Issues Rare Joint Statement on LIBOR Transition

    June 2019 Jones Day Publications

    ARRC Publishes Final LIBOR Transition Recommendations for Securitizations and Bilateral Business Loans

    May 2019 Commentary

    ARRC Publishes Final LIBOR Transition Recommendations for Floating Rate Notes and Syndicated Business Loans

    March 2019 Reprint

    New Accounting Standards Can Significantly Impact Credit Agreements, Commercial Finance Association

    January 2019 Commentary

    ARRC Releases Market Consultations for the Securitization and Bilateral Loan Sectors

    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.