The Legal 500

Cravath, Swaine & Moore LLP saw an upturn in activity in 2010 in line with much of the market, and continued its work with its notable roster of longstanding clients, which include JPMorgan Chase, Credit Suisse, Goldman Sachs and Citigroup. The team is smaller in terms of partner numbers than some competitors, with individuals working across several practice areas, but clients praise the group’s ‘excellent knowledge and experience’ and ‘top-of-the-class expertise’. The practice represented Credit Suisse, as agent and arranger of $1.16bn and €330m senior secured credit facilities made available to Reynolds Group Holdings, partly for its acquisition of Closure Systems International and Reynolds Consumer Products. It handled several other linked transactions for Credit Suisse, involving borrowers and guarantors in over 20 different jurisdictions, and also advised it on the amendment and restatement of the senior secured credit facilities for Travelport; the transaction extended the maturity of approximately $1.7bn and €310m of its credit facilities. Up-and-coming partner Tatiana Lapushchik acted for Goldman Sachs and Wells Fargo on $525m credit facilities made available to AutoTrader.com for a recapitalization transaction. The practice also assisted JPMorgan, Barclays Capital, and RBC Capital Markets, as lenders, on $730m credit facilities made to an acquisition entity formed by Silver Lake Partners and others to finance, in part, the purchase of a 65% equity stake in Skype from eBay. Clients praise practice leader Michael Goldman for his ‘wide range of deal experience’ and ‘excellent market knowledge’. C Allen Parker and B Robbins Kiessling are also recommended.

Davis Polk & Wardwell LLP’s major leveraged finance practice plays a significant role in the sector and represents a wide and impressive range of clients, with its broad-based practice proving an asset in navigating the financial crisis. Since the return of a measure of stability to the market, the group has continued to act on many of the most important crisis-related mandates. Prominent among these was its advice to The Federal Reserve Bank of New York and the US Department of the Treasury on a $180bn series of financing and capital management transactions for AIG; the range of transactions includes an $85bn credit facility and subsequent revisions, and the creation of Maiden Lane II to address RMBS exposure ($62.1bn) and Maiden Lane III to address CDS exposure ($35bn). Highly respected partner Bradley Smith led a team that acted for Citibank in a high-profile deal, where the client was joint lead arranger and administrative agent on the $11.1bn exit financing for Lyondell Chemical Company. Among other linked transactions (totalling over $20bn in financings), the team also advised Citi, as arranger and agent, on Lyondell’s $8.5bn debtor-in-possession. Bank of America and others instructed the firm as lenders’ counsel on the purchase of E.ON US by PPL. Department head Joseph Hadley led a group that advised a consortium of 14 financial institutions holding credit default swap and financial guarantee exposure to monoline insurer Ambac Assurance in a deal worth $16.4bn in aggregate. James Florack is notable for his leveraged finance expertise, and Lawrence Wieman is also recommended, on the debt restructuring side.

Simpson Thacher & Bartlett LLP’s successful practice is headed by Patrick Ryan, and acts for an even spread of borrowers and lenders. Three new appointments were made at partner level: Elisha Graff and Justin Lungstrum in February 2010, and Melissa Hutson in November 2010. James Cross led the advice to PPL Corporation on the bridge financing for its purchase of E.ON US, a $7.62bn acquisition; and Jennifer Hobbs was the lead partner acting for Silver Lake and Warburg Pincus on their $3.4bn acquisition of Interactive Data Corporation, a leading provider of financial market data. The firm also assisted an investor group led by Silver Lake Partners on the debt financing for a majority interest in Skype Technologies from eBay, for approximately $1.9bn in cash; and Peabody Energy Corporation on a new five-year senior secured credit facility led by Bank of America Securities – this includes a $1.4bn revolving facility and a $500m term loan, and replaced Peabody’s prior credit facility. On the arranger side, the group advised JPMorgan Securities and Barclays Capital as representatives of the initial purchasers of $800m of 9.875% senior notes, due 2018, the proceeds of which were used to part finance Burger King Holdings’ acquisition by private equity firm 3G Capital. Alan Brenner led a team that advised JPMorgan on a $5bn revolving credit facility for Anadarko Petroleum Corporation, which replaced an existing $1.3bn unsecured revolving facility. Clients value the ‘very solid’ advice given by the senior partners, and the firm counts several major figures in its number, including the greatly experienced Cross, mentioned above, and Francis Huck.

Cahill Gordon & Reindel’s team is regarded by clients as a ‘cut above the competition’ and has an enviable reputation in the high yield bond sector. Mandates of note included representing Banc of America Securities, Deutsche Bank Securities and Morgan Stanley Senior Funding as lead arrangers in a $3bn senior secured term loan facility for CIT Group; and acting for the joint bookrunners and initial lenders (Citibank and others) in the $5.5bn bridge credit facility to part finance Kraft’s acquisition of Cadbury. The firm also represented the financing sources, in transactions totalling nearly a billion dollars, to fund the $1.42bn buyout of Associated Materials, by affiliates of Hellman & Friedman; JPMorgan Chase as administrative agent on a new $1.13bn senior credit facility for Lamar Media Corp, including two loans and a revolving credit facility; and the debt financing sources in a $5bn (with assumed debt) acquisition of Tomkins, one of the most substantial LBOs of 2010. William Hartnett is ‘among the most accomplished and experienced lawyers on Wall Street’, and the wider team has a ‘a good sense of what clients want to achieve’. Adam Dworkin is recommended in the high yield sector, and William Miller in securities and syndicated loans. James Clark, in debt restructuring, and Jonathan Schaffzin, in mezzanine and leveraged financings, both have a wealth of experience which they bring to bear on many of the major deals in the market.

Latham & Watkins LLP’s year was marked by several significant deals involving revolving credit facilities and refinancings. The group benefits from the firm’s strong project finance capabilities, handling a notable deal for Citgroup Global Capital Markets and Citicorp North America; it advised them on the $4.15bn amendment and restatement of a credit agreement to offer a new revolving credit facility and new term tranches for NRG Energy. Other significant energy work included advising Bank of America on $2bn loan and revolving credit facilities and refinancing for Peabody Energy Corporation. Aside from the energy sector, Melissa Alwang led a team working for Barclays Capital and Barclays Bank on a $2.4bn loan and revolving credit facilities for Phillips-Van Heusen, the clothing company, on its acquisition of Tommy Hilfiger. On the sponsor side, Los Angeles-based Vicki Marmorstein led a team representing The Walt Disney Company in a deal that included a $2.25bn revolving credit facility. The team, along with project finance colleagues, was also involved (for USEX-IM, among others) in the significant PNG-LNG transaction in Papua New Guinea, which involved sums of $14bn loaned by the consortium of banks. Other high-profile clients are Credit Suisse, General Electric and Goldman Sachs. The firm saw the departure of the renowned Marc Hanrahan to Milbank, Tweed, Hadley & McCloy LLP in August 2010, but it retains some excellent lawyers, among them Chicago-based Bradley Kotler and John Mendez in New York.

Shearman & Sterling LLP ‘stands above the rest’ of its competitors in its ability to deliver high-quality advice and services. The team is led by Maura O’Sullivan, who leads a group with particular expertise in structuring matters. It handles a mix of lender and sponsor transactions, with a notable slant towards the former. The renowned William Hirschberg recently led the advice to BNP Paribas Securities and others as joint lead arrangers and book managers of a $5bn, 364-day credit facility for Toyota Motor Credit Corporation and certain affiliates. The firm also advised Citigroup Global Markets, as joint lead arranger, on a $2.5bn deal involving the amendment of two credit facilities for International Lease Finance Corporation (ILFC), one maturing in 2010 and the other in 2011 – the facility is guaranteed by various special purpose, and newly formed, ILFC subsidiaries. On the sponsor side, the firm acted for Boston Scientific Corporation in a $3bn multi-currency financing, which involved a three-year term loan and a three-year revolving credit facility, arranged by Banc of America Securities and JPMorgan Securities. Other active clients of the group include Royal Bank of Canada, Morgan Stanley and Bank of America Merrill Lynch. Robert Freedman was elected to the partnership in 2010 and joins established names such as Michael Baker, who is adept at advising lead arrangers on secured lending, and Monica Holland, who has a strong practice in debt restructuring and leveraged buyouts.

Skadden, Arps, Slate, Meagher & Flom LLP has a broad-based practice and good geographic coverage on both coasts and in Chicago. It has a strong grounding in sponsor representation, but, with increased market activity and lending, has been able to grow its lender practice. In a significant and complex deal, it advised HCP Inc in its $6.1bn acquisition of HCR ManorCare, a provider of living facilities for senior citizens; recommended partners Sarah Ward in New York and David Reamer in Los Angeles led on the deal, which included a $3.3bn fully committed bridge loan and the largest new master lease in US history. The continuing effects of the financial crisis saw the group work for DineEquity in its $1.8bn refinancing, including a $950m senior secured credit facility. Credit Suisse instructed the group on several high-value transactions in 2010, including as the joint arranger and bookrunner on Regal Cinemas Corporation’s $1.34bn senior secured credit facility. The client joined a roster of lender clients that also includes BNP Paribas and Bank of America Merrill Lynch, an indication of the group’s growth in this arena. Recommended partners include lead Chicago partner Seth Jacobsen, who has a strong restructuring and leveraged leasing practice, and New York’s Thomas Gowan, whose expertise includes commercial financings and restructurings.

Weil, Gotshal & Manges LLP’s attracts praise for its ‘practical and commercial mindset’. The ‘up-to-speed’ group operates from two main bases in Dallas and New York, and has expertise across a wealth of areas, notably in borrower transactions; the firm maintains a strong portfolio of private equity clients advised on a cross-practice basis. 2010 proved to be a solid year despite several clients not being as active as previously. Dallas-based Angela Fontana, who acts for a wide range of private equity clients, represented General Growth Properties, as sponsor, in a $300m revolving credit facility and a $1.5bn backstop term loan financing from bankruptcy. The team also acted for N.E.W. Holdings I/N.E.W. Customer Service Companies on $1.02bn term, revolving and unsecured credit facilities; the loan involved a dividend recapitalization transaction on a covenant-lite basis. Starwood Hotels and Resorts Worldwide also instructed the group, on the refinancing of its $1.5bn revolving credit facility. On the arranger side, the firm acted for American International Group and American General Finance Corporation on a $3bn term loan to AGFS Funding Company to refinance existing indebtedness and other purposes; and for key clients Citi and Deutsche Bank, as lead arrangers on a $1bn multi-currency revolving credit facility for International CCE, as backstop financing with a merger and spin-off. Danek Freeman was made partner in New York in 2010, joining well-respected head of the global finance practice Daniel Dokos and ‘top-deck intellect’ Douglas Urquhart.

Debevoise & Plimpton maintains an ‘exceptional’ high-end practice that acts in all areas but has notable expertise in syndicated loans, refinancings and leveraged acquisitions, across diverse industries. Clients include several longstanding and significant private equity houses. In a major recent transaction, involving complex multi-jurisdictional aspects, the firm represented Reynolds Group Holdings in financing arrangements totalling $5bn for its acquisition of Pactiv, the food and beverage packaging firm; these included the borrowing of incremental loans in excess of $2bn. It also assisted Hertz Global Holdings as sponsor in the financing aspects of its proposed $1.56bn acquisition of Dollar Thrifty Automotive Group; and, in a $4.2bn transaction, acted for Clayton, Dubilier & Rice in the financing of its acquisition of a 42.5% stake in Univar, the commodity and specialty chemicals distributor, via a sponsored recapitalization deal. William Beekman acted for Oaktree Capital Management on its PPIP Fund, involving a $2bn financing with the US treasury to help rectify the market in mortgage-backed securities. The ‘extremely knowledgeable’ David Brittenham heads the team, and other recommended individuals include Paul Brusiloff and Pierre Magüé. Jeffrey Ross was made a partner in 2010.

Milbank, Tweed, Hadley & McCloy LLP’s ten-partner bank lending practice is based in New York and Washington DC. It is headed by the renowned and well-respected Marc Hanrahan, who heads the global leveraged finance group and in 2010 moved over with a five-strong team from Latham & Watkins LLP. The firm has a strong profile in leveraged finance, and notable expertise in areas such as first lien, second lien, unsecured loans and bonds, and asset-based and cash flow based financings. Its impressive roster of clients includes large international entities such as Bank of America, Credit Suisse, and Deutsche Bank. The team acted for Goldman Sachs Credit Partners on a $1.3bn term loan and revolving credit facilities for Graphic Packaging Holding Company. Recommended individuals, in New York, include William Mahoney, who has expertise in cross-border financings, and Lauren Hanrahan, Marcus Dougherty and Michael Bellucci.

White & Case LLP’s 12-partner bank lending group is headed by Eric Berg in New York. The New York office is accompanied by bases in Los Angeles and also Miami, the latter focusing primarily on supporting the firm’s significant Latin American practice and working in concert with offices in Mexico City, Monterrey and São Paulo. The group is active in areas such as leveraged buyouts and recapitalizations, asset-based lending, investment-grade financings and workouts. Clients include a mix of lenders and borrowers, with the lender side more prominent; examples include Deutsche Bank and JPMorgan Chase Bank. Berg represented Morgan Stanley Senior Funding, as administrative agent, joint lead arranger and joint bookrunner, on a $2.5bn senior secured credit facility ($500m revolving and $2bn term); and as administrative agent lead arranger and bookrunner on a $1.75bn bridge loan facility to CF Industries – the deal involved the acquisition by CF Industries of Terra Industries, and the firm also advised Morgan Stanley on the related $1.1bn equity offering and $1.6bn debt offering by CF Industries. Well-respected New York partner David Koschik acted for Deutsche Bank on a $1.2bn senior secured financing for Trans Union, which consisted of a $950m term loan and $200m revolving credit facility and was issued in conjunction with the issuance of $645m of senior notes. Brenda Dieck in Los Angeles also acted for Deutsche Bank, on the $2.8bn leveraged acquisition of a leading auto dealership computer systems company. Prominent team members include New York’s Eric Leicht, and Scott Zemser, who has notable relationships with BNP and Credit Suisse. Victor Alvarez in Miami had a very active 2010 with Latin American transactions, and Francis Zou joined the New York firm as a partner from Allen & Overy LLP.

Fried, Frank, Harris, Shriver & Jacobson LLP is valued for its ‘understanding of current trends’ and ability to take account of these in its advice, and also its ‘turnaround time and availability’. The group’s activity level reflected market conditions in early 2010, but it benefited from the bank lending sector’s later resurgence, and from its balance of lender and sponsor clients. In a complex borrower-side deal, it acted for Novelis on its $2.3bn senior secured credit facilities, which were entered into in conjunction with a £2.5bn issuance of high yield bonds. The group also advised Goldman Sachs Capital Partners VI Fund in arranging a $865m credit agreement with the purchase of the majority outstanding shares in Michael Foods Group; JPMorgan Securities, as lead arranger, on a $750m senior secured revolving credit facility for BE Aerospace; and several mezzanine partners in a number of multimillion-dollar deals. Clients acclaim department chair F William Reindel as ‘unique’ and ‘thoughtful and thorough, with an expansive memory’. The team as a whole is ‘on top of the issue 24/7’, with other recommended partners including Christian Nahr in the borrower and investor arena, and Emil Buchman in acquisition financing.

Kirkland & Ellis LLP’s practice is based for the greater part in Chicago and New York and traditionally has a focus on the sponsor side, representing several major private equity houses and other investors, such as 3G Capital Management and CVC Capital Partners. In 2010 the group grew its lender-side practice, acting for notable clients such as Bank of America, and saw an increase in buyout work and crossover transactions. Jason Kanner and Leonard Klingbaum, both in New York, acted for Charter Communications as borrower in an unusual deal with a combined value of $11.4bn, which involved reinstating its entire $8bn first-lien senior credit facility in relation to its emergence from Chapter 11; in addition to other, linked transactions, Charter entered into a new $1.3bn revolving credit facility, due to mature March 2015. Well-respected Chicago-based group head Linda Myers acted with Michelle Kilkenney for Madison Dearborn Partners on its acquisition of a 51% stake in TransUnion Corporation, in partnership with the Pritzker Family: a deal that united two of the most important investor groups in Chicago. The firm also advised Bain Capital Partners on the $1.63bn purchase of the Styron division of the Dow Chemical Company, with debt financing of $1.04bn. Clients rate New York’s Joshua Korff as ‘fantastic’ on offerings and securities, and Jay Ptashek is recommended for his expertise in private equity and leveraged finance.

Ropes & Gray LLP’s practice benefits from a strong private equity client base. Following the uncertainty in the PE market in 2009, the firm saw a 2010 marked by a resurgence in work from existing clients. It advised Berkshire Partners, Bain Capital and Advent International on the $1.2bn LBO of Skillsoft and an Irish internet training and software provider, a rare transaction in the uncertain economic times prevailing in the Republic of Ireland. It also acted for TPG Capital and CPP Investment Board in obtaining and structuring $3.28bn of aggregate debt financing for the acquisition of IMS Health, a provider of medical and pharmaceutical intelligence. Up-and-coming talent Michael Lee of the Boston office assisted Covidien in its $2.6bn acquisition of Ev3, a medical device developer, involving a bridge financing commitment. Jay Kim is recommended, and has an extensive record in leveraged buyouts and multi-jurisdictional transactions. Also attracting praise are Boston-based chair of the debt financing group Thomas Draper, and Steven Rutkovsky in New York, who has well-established expertise in private equity matters.

Sullivan & Cromwell LLP delivers ‘consistent quality across all areas’, and in 2010 was particularly active in financing and restructuring work, experiencing an upturn in New York with the return to form of the finance sector and the resurgent LBO market. The practice has traditional strength acting for sponsors, but lender deals are increasing apace. The firm acted for CIT Group on entering into an agreement with Bank of America on the amendment and restatement of an existing long-term loan facility, to refinance all of the remaining $4bn first-lien term loans outstanding under its existing senior secured term loan facility. On the bank side, it advised Barclays Bank and Barclays Capital Real Estate on the sale of their US non-prime mortgage servicing business HomEq Servicing to a subsidiary of Ocwen Financial Corporation, for approximately $1.3bn; the deal involved Barclays providing Ocwen with around $1bn in secured financing for the purchase of HomeEq via a secured corporate loan and a receivables securitization facility, with additional financing to be raised by Ocwen with Barclays’ aid. Los Angeles based Hydee Feldstein will ‘go the extra mile’ for clients. In New York, the ‘excellent’ Bob Downes also receives acclaim, as do John Mead and Neal McKnight.

The team at Cadwalader, Wickersham & Taft LLP has ‘superior business acumen’, and handles a varied workload that runs the gamut of sectors, with a slant towards lender work. The group has significant experience in the area of DIP financings, where it has assisted organizations such as Lyondell Chemical Company. It has notable links with the US Treasury, which was the source of several notable transactions in 2010; the firm advised it, as lender, on the $33.3bn debtor-in-possession for General Motors and modifications to, and payoff of, a $3.5bn financing for CGI Holding. On the sponsor side, the group assisted Pfizer in multiple bank loans relating to its $22.5bn bridge financing for its acquisition of Wyeth. Julian Chung has a strong lending background and ‘amazing skills in managing teams’. Christopher McDermott in Charlotte attracts high praise from clients, who note his ‘highly efficient’ style and ability to ‘see issues from 360 degrees’. Steven Cohen leads the team, which operates principally from New York and Charlotte.

Cleary Gottlieb Steen & Hamilton LLP has traditional strength on the sponsor side of acquisition financing. Clients appreciate the depth of the team, which consistently ‘allocates good resources’ to clients’ needs. Richard Lincer in New York assisted an investor group in the financing of its acquisition, from a wholly owned subsidiary of Marathon Oil Corporation, of Marathon’s Minnesota downstream assets. The team also acted as US counsel to BHP Billiton in its financing, through a $45bn syndicated loan facility, of its $40bn acquirement of the Potash Corporation of Saskatchewan. Duane McLaughlin assisted Deutsche Bank in bridge loans to Brasoil. In a significant restructuring transaction, the team acted for a high-profile steering committee, composed of Banco Santander, HSBC Bank and others, in restructuring the $15bn debt of CEMEX of Mexico, involving syndicated, bilateral and derivative bank debt. New York-based Chantal Kordula is a rising force at the firm. Clients rate Meme Peponis’ ‘good legal knowledge and business acumen’, and Laurent Alpert’s acquisition finance expertise.

Dechert LLP’s clients express great satisfaction with the ‘vast knowledge’ of the firm and its ‘sound and well-thought-out advice’; it provides ‘crucial partner-level attention’. The team has a prominent practice in representing sponsors and private equity clients, counting a host of PE houses on its client roster. Senior lending deals are an important source of business; high-profile clients in this arena include Standard Bank, RBS, and Wachovia/Wells Fargo. 2010 also saw the team act on several dividend re-caps, and a number of significant, mainly mid-market, transactions. Jay Alicandri in New York is an ‘excellent’ lawyer and delivers ‘attentive, quality counsel’. New York-based Scott Zimmerman heads the leveraged finance practice and offers a quality service that clients ‘would not hesitate to recommend’.

Gibson Dunn’s practice is jointly headed by three partners: Jeff Hudson in Los Angeles, and Joerg Esdorn and Robert Cunningham in New York. The firm is primarily geared towards borrower representation and handles a high volume of transactions; 2010 initially brought numerous restructuring deals, followed by an increase in leveraged acquisitions later in the year. It acted for Charter Communications on a $4.4bn term loan and revolving credit facility: a progressive deal whose flexible nature has influenced a number of subsequent transactions. Recommended partner Linda Curtis in Los Angeles acted for CityCenter Holdings on a fourth amendment to a $1.8bn credit facility, while Darius Mehraban in New York represented Alliant Techsystems on a $1bn senior secured credit facility, and Alan Bannister assisted the same client on a further, linked transaction. Goldman Sachs is a relatively new client for the firm, and Eric Wise in New York recently assisted it on a $455m senior credit facility.

Mayer Brown has a sizeable and ‘very knowledgeable and responsive’ leveraged finance group based across Charlotte, Chicago, Houston, New York and Washington DC, handling a good balance of lender and borrower transactions for high-profile clients. It acted for Bank of America MGM Resorts International as arranger in a $4.73bn senior secured credit facility for MGM Mirage Resorts International; the deal proved to be highly complex, including extending and non-extending tranches and revolving and term loan tranches. It also acted for Bank of Nova Scotia in the $675m restructuring of senior secured peso and dollar loans to Mexico’s Lamosa, involving subordinated debt and complex inter-creditor matters. The group welcomed the arrival in Chicago of Paul Astolfi from Kirkland & Ellis LLP, who has notable leveraged acquisition and securitization expertise. Tristan Propst in Houston is ‘outstanding’ and a ‘privilege’ to work alongside; and Chicago-based practice head Douglas Doetsch stands out for his ‘constant efforts to protect clients’ interests’. Other recommended partners are Robert Baptista in Chicago, and Timothy Ryan in Charlotte, who is noted for his work with Bank of America.

O’Melveny & Myers LLP has a busy and diverse practice that represents a number of active private equity and portfolio firms in the market, and benefited from the up-tick in lending and borrowing witnessed towards the end of 2010. It was involved in a number of high-value restructuring and CMBS financing transactions over 2010. It also represented CCMP Capital Partners on the financing of its $323m acquisition of infoGroup, which involved a $274m six-year term loan facility and a $50m five-year revolving credit facility; and assisted Freeman Spogli & Co and its affiliates on its $213m debt financing for the acquisition of Bright Now Dental, involving a successor credit facility agented by Wells Fargo Bank. New York-based Gregory Ezring co-heads the practice with Peter Healy in San Francisco. Also recommended are Thomas Baxter in Los Angeles, and Eric Reimer, who joined from Goodwin Procter LLP and divides his time between New York and Los Angeles.

Proskauer Rose LLP has a ‘sophisticated’ practice and a ‘deep understanding of the market’, covering both lender and sponsor transactions with a slant towards the latter, and has a very active leveraged finance team based in New York and Boston. Recommended joint practice head Vincenzo Paparo, in New York, acted with Jeffrey Levitan for a syndicate of lenders, headed by Credit Agricole Corporate and Investment Bank, on the complex $700m restructuring of multiple debt facilities for San Antonio Oil & Gas Services. The firm has a strong niche in sports finance matters, and recently represented JPMorgan Chase, Citibank and Bank of America as co-lead arrangers on a $450 secured credit facility used by Tom Ricketts and family to buy the Chicago Cubs and Wrigley Field. In Boston, joint practice head Steven Ellis and Stephen Boyko are ‘great “deal guys”’ and provide ‘invaluable’ advice.

The team at Sidley Austin LLP provides a ‘very high-level service’ and ‘deep market knowledge’ at ‘very competitive’ rates, and benefits from the firm’s strong bankruptcy practice. The majority of attorneys in the leveraged finance practice are based in Chicago, but the firm also has bases in Los Angeles, home to recommended practice co-head Jennifer Hagle, and New York. The group’s roster of high-profile clients includes Bank of America, BNP Paribas, Citigroup, General Electric Capital Corporation, and JPMorgan Chase Bank. Recent transactions include acting for U.S. Bank, as administrative agent, on a $400m credit facility to United Launch Alliance, led by the recommended James Clark in Chicago; and for JPMorgan Chase Bank as administrative agent, on a $2.7bn amendment and extension of credit facilities to Dean Foods Company. The firm also advised JPMorgan Chase Bank on a $1bn credit facility to General Dynamics Corporation. Partners of note include Zulfigar Bokhari in Chicago, whose ‘proactive’ and ‘exceptional’ legal advice is highly valued by clients. Pamela Martinson joined the firm’s Palo Alto office and strengthens that office’s leveraged finance capabilities.

Winston & Strawn LLP’s practice has a strong base in Chicago, alongside resources in New York, Charlotte and Los Angeles; clients admire the firm for its ‘extremely deep bench’ and describe it as ‘very much a full-service shop’. It acts on a broad spectrum of transactions for both lenders and sponsors, from mid-cap to large-cap mandates. Clients include Wells Fargo Bank, JPMorgan Chase Bank, BNP Paribas and Deutsche Bank, as well as a host of high-profile borrower names. The team acted for Bank of America on a syndicated credit facility of more than $2bn provided to Pilot Travel Centers; this facility was partly used to fund Pilot Travel Center’s acquisition of Flying J, which emerged from Chapter 11 bankruptcy. It also advised a global banking institution, as lead agent, on structuring and negotiating a complex senior secured exit facility for one of the world’s largest automotive suppliers, and assisted JPMorgan Chase Bank, as agent, in a $1.35bn bridge facility and a $1bn multi-currency revolving credit facility for Corn Products International, for its acquisition of another business. Matthew O’Meara and Loren Weil in Chicago are ‘great at executing transactions, even in the most difficult circumstances’. Patrick Hardiman ensures a ‘win-win situation’ in his transactions, and Ronald Jacobson is an ‘excellent relationship manager’. Warren Loui joined the Los Angeles office from O’Melveny & Myers LLP.