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Ropes & Gray LLP

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Stefanie Birkmann

Ropes & Gray LLP


Finance partner Stefanie Birkmann represents private equity firms, corporate borrowers, and other borrowers in complex financings. She is highly experienced in a wide variety of syndicated financings—with an emphasis on leveraged acquisition finance and recapitalizations—and advises her clients on senior and subordinated credit facilities, cash-flow and asset-based loans, first and second lien financings, mezzanine financings, bridge loans, high yield debt offerings and debt restructurings, including DIP and exit financings. Before joining Ropes & Gray, Stefanie was senior counsel at Simpson Thacher & Bartlett LLP.

United States: Finance

Capital markets: high-yield debt offerings

Within: Capital markets: high-yield debt offerings

Ropes & Gray LLP attracts praise for its ‘impressive depth of experience and market knowledge’ and its ‘extremely professional and capable lawyers’. The issuer-focused practice leverages its enviable private equity client base - Blackstone, Silver Lake Partners and TPG Capital are all on the team’s books - to specialize in advising leading PE players and their portfolio companies on sophisticated high-yield transactions. In a recent example, Boston-based Michael Lee acted for IMS Health Holding, co-owned by TPG, Leonard Green & Partners and CPP Investment Board, in its $1.7bn issuance of dollar and euro-denominated bonds. In New York, Stefanie Birkmann advised Surgery Center Holdings, a portfolio company of HIG Capital, on its $400m senior notes issuance. New York-based Jay Kim is ‘technically excellent’ and acted for West Corporation in its $400m offering of senior secured notes. Boston-based Byung Choi is also a key member of the group.

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Commercial lending

Within: Commercial lending

Ropes & Gray LLP’s borrower-led practice has long held a top position in the market, and the ‘highly responsive’ team is also making a concerted push into direct lender work, where it is developing a reputation for its ‘good knowledge of middle-market transactions’. Alyson Allen and Joanne De Silva are highly active in the direct lending market thanks in part to their work for KKR Credit Advisors and Hancock Capital Management; recent highlights include advising the former client on a $625m multi-tranche loan to H.I.G Capital to fund its acquisition of the Keefe and Courtesy groups. On the sponsor side, the firm recently acted for Silver Lake Partners, as co-sponsor with Thoma Bravo, on the financing of the acquisition of software company SolarWinds. The firm is also handling a substantial amount of work for corporates and strategic buyers; recent highlights include assisting Samsonite with a $2.3bn loan connected to its acquisition of Tumi. The highly regarded Byung Choi continues to head the US team, which includes the ‘very goodStefanie Birkmann, Jay Kim and Sunil Savkar.

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