Cahill Gordon & Reindel LLP > London, England > Firm Profile

Cahill Gordon & Reindel LLP
25 MONUMENT STREET
LONDON
EC3R 8AJ
England

Finance > High yield Tier 2

Cahill Gordon & Reindel LLP ‘has a great reputation in high yield in the US and, given the name recognition of the firm, will be a legitimate market force in the years to come‘. The firm is frequently involved in the high profile and complex public and private high-yield, term loan B and direct lending transactions, many of which are high-value and cross-border in nature; ‘they are very collaborative and know the market which makes working across from them a team experience‘, remarks one market source. Jake Keaveny is ‘a great person to work across from, which is why he gets a lot of sponsor designation roles‘. ‘His advice is well thought through, concise and practicable‘, say clients of Anthony Tama, who advised the initial purchasers in connection with a $2.8bn Rule 144A/Reg S offering of US dollar-denominated and euro-denominated senior secured and senior notes by Ardagh Metal Packaging Finance plc. The firm hired counsel Courtland Tisdale from Latham & Watkins in 2021.

Other key lawyers:

Testimonials

‘A good balance of cross-border knowledge across HY. Jake Keaveny stands out.’

‘Cahill recently built up their HY capabilities with the hire of Jake Keavney a few years back. Jake is a well-known HY partner who have a lot of experience and were highly regarded in the market representing banks.’

‘They have started to build a team around them and have hired some associates which definitely helps with the quality of the ranks. They are very collaborative and know the market which makes working across from them a team experience.’

‘They seem to have hit the ground running with Jake Keaveny’s arrival and they have been very busy. Cahill has a great reputation in HY in the US and given the name recognition of the firm, I do think they will be a legitimate market force in the years to come.’

‘The arrival of Courtland Tisdale will help strengthen the team.’

‘Jake Keaveny is a great person to work across from, which is why he gets a lot of sponsor designation roles. He is collaborative and easy to deal with, focuses on getting transactions over the line and has great transactional experience.’

‘Anthony Tama is great to work with—I have an ongoing transaction with Anthony and I agree with him on every legal issue that arises—his advice is well thought through, concise and practicable.’

‘I really enjoy working with both Jake and Anthony.’

Key clients

Citigroup Global Markets Limited

J.P. Morgan Securities plc

Credit Suisse Securities (Europe) Limited

Deutsche Bank AG, London Branch

Credit Agricole Corporate and Investment Bank

Work highlights

  • Represented the initial purchasers in connection with a $2.8 billion (equivalent) Rule 144A/Reg S offering of US dollar-denominated and euro-denominated senior secured and senior notes by Ardagh Metal Packaging Finance plc and Ardagh Metal Packaging Finance USA LLC.
  • Represented the initial purchasers in connection with an offering of €450,000,000 aggregate principal amount of 5.625% sustainability-linked senior secured notes due 2028 by Lune Holdings S.a r.l.
  • Represented the lead arrangers in connection with the committed financing to support the acquisition by 888 Holdings plc of the international (non-US) business of William Hill from Caesars.

Finance > Acquisition finance Tier 4

Despite still being in its relative infancy, Cahill Gordon & Reindel LLP's leveraged loan finance offering has hit the ground running since the marquee recruitment of Jonathan Brownson from Allen & Overy LLP  in September 2020, immediately gaining traction in the market as a result of the firm's ability to provide 'a very credible one-stop-shop' service to lenders on both the loan and high yield piece of large-cap mandates. Recognised as 'one of the best acquisition financing partners in the market', Brownson has been able to leverage his existing strong banking ties  and has also been embraced by his new firm's blue riband array of US investment banks. The arrival in April 2021 of Joydeep Choudhuri, also from Allen & Overy LLP, provides further bandwidth on the lender front, in light of his strong private credit ties.

Practice head(s):

Jonathan Brownson

Other key lawyers:

Joydeep Choudhuri; Prue Criddle; Warren Newton; Anthony Tama

Testimonials

Building a good size bench on financing/banking with reputable lawyers across the City. Good cross-border capabilities, consistent quality output building up a good profile in London after investing in the new team that has translated into mandates on high-profile deals.’

A knowledgeable, results-oriented, credible, co-operative and accessible team.’

‘The lawyers in the team are all very knowledgeable, reasonable and commercial and provide a great customer service.’

The extremely proactive and solutions-oriented Jonathan Brownson is one of the best acquisition financing partners in the market.’

Jonathan Brownson is solutions-oriented, commercial and gets the deal done.’

Key clients

JPMorgan

Citigroup

BNP Paribas

Citizen’s Bank, N.A

Petroleum Geo-Services AS

Deutsche Bank

Credit Suisse

HSBC

Jefferies

Carlyle Credit

Bridgepoint Credit

Park Square Capital

AlbaCore Capital

Sona Asset Management

Bank Santander

National Westminster Bank

KKR Capital Markets

IHS Holding Limited

Nordea

SEB

Partners Group

Danske Bank

Work highlights

  • Represented the lead arrangers in connection with the credit facilities provided to support the public to private acquisition by Caesar’s Entertainment of William Hill Plc.
  • Represented the lead arrangers in connection with the £2.3bn financing to support the acquisition by 888 Holdings plc of the international (non-US) business of William Hill.
  • Represented the lead arrangers in connection with the €2.45bn credit facilities to support the acquisition by Platinum Equity of Urbaser S.A.U., a global environmental services provider headquartered in Spain.

The firm: With a history of legal innovation dating back to the firm’s founding in 1919, Cahill Gordon & Rekindle LLP has built a reputation for capital markets prowess and high-stakes litigation excellence and is trusted by market-leading financial institutions, companies and their boards to manage significant litigation, regulatory matters and transactions. The firm is based in New York with offices in London and Washington, D.C.

Principal areas of work: Cahill is known for having one of the most active and respected capital markets and lending practices in the world. The firm’s reputation is supported by its market presence and deal activity, which has ranked consistently at or near the top of the industry for legal counsel to managers and underwriters in debt securities in London and New York. Cahill has been the #1 legal advisor to high yield bond underwriters since rankings started in 2005 (Bloomberg) and the top ranked legal advisor to lead arrangers of leveraged loans since 2010 (Definitive PLC.). Cahill’s representation of managers and lenders of European leveraged finance transactions ranked in the top 5 for 2020 by volume (Bloomberg) and the firm has been ranked as a top 5 adviser to lead banks of Western Europe leveraged loans for 2020 by volume (Debtwire).

Cahill’s broad reach, depth of experience in leveraged finance and unmatched lending relationships place it at the forefront of the most sophisticated and challenging financial transactions in the global markets. As a result, Cahill is often the first among its peers to identify emerging trends and help clients overcome their most challenging obstacles as markets and deal terms evolve. With our expanded London offering, lenders and other participants involved in European and cross-border transactions are well-placed to benefit from Cahill’s deep relationships, extensive market and sector experience and market leading know-how. The team also has significant expertise working with private credit funds.

Cahill’s transactional lawyers represent lenders and borrowers in loan financings, underwriters and issuers in debt, equity and equity-linked securities offerings and dealer managers and solicitation agents in exchange offers, tender offers and consent solicitations, in leveraged, distressed, high-grade and cross-over credits. We also represent mezzanine lenders and private equity investors in leveraged and strategic transactions.

On the litigation side, Cahill represents banks, hedge funds, large corporates and their officers and directors in matters ranging from risk advisory work to internal investigations to complex commercial litigation. Many of its matters are cross-border in nature, with a particular focus on the US.

DepartmentNameEmailTelephone
Capital Markets & Lending Anthony K. Tamaatama@cahill.com44.20.7920.9805
Capital Markets & Lending Jonathan Brownsonjbrownson@cahill.com44.20.7920.9809
Capital Markets & Lending Jake Keavenyjkeaveny@cahill.com44.20.7920.9808
Litigation Richard Kellyrkelly@cahill.com44.20.7920.9818
PhotoNamePositionProfile
Jonathan Brownson photo Jonathan BrownsonJonathan Brownson is a partner in Cahill’s Capital Markets & Lending group…
Jake Keaveny photo Jake KeavenyJake Keaveny is a partner in Cahill’s Capital Markets & Lending group…
Richard Kelly photo Richard KellyRichard of Cahill Gordon & Reindel (UK) LLP has represented some of…
Anthony Tama photo Anthony TamaAnthony advises global investment banking firms, commercial banks and public and private…
Other Offices : New York, NY

Firm overview: With a history of legal innovation dating back to the firm’s founding in 1919, Cahill Gordon & Reindel LLP has built a national reputation for capital markets prowess and high-stakes litigation excellence and is trusted by market-leading financial institutions, companies and their boards to manage significant litigation, regulatory matters and transactions. The firm is based in New York with offices in London and Washington, D.C.

Main areas of practice
Transactional: Cahill represents a broad range of financial institutions and other companies in all types of transactional and advisory work.

Capital markets and lending: Widely recognized as the leading law firm in leveraged finance, Cahill has long and close working relationships with many prominent international banking institutions. The firm’s capital markets and lending practice represents lenders and borrowers in loan financings, underwriters and issuers in debt, equity and equity-linked securities offerings and dealer managers and solicitation agents in exchange offers, tender offers and consent solicitations, in leveraged, distressed, high-grade and cross-over credits. Cahill also represents mezzanine lenders and private equity investors in leveraged and strategic transactions.

Building on 20 years of experience in the London market, Cahill recently expanded its London office with a well-known English law finance team and additional New York law finance capability. The team has extensive experience in the European leveraged finance and high-yield market.

Cahill has a long history of working collaboratively around the table with leading private equity firms and corporations and their counsel, including on cross-border transactions. Cahill has advised financial institutions on many of the largest and most sophisticated M&A and LBO debt financings, including nine of the ten largest US-based LBOs completed to date.

A dominant force in the high-yield market, Cahill has been ranked #1 in the league tables for advice to underwriters of high-yield bonds by Bloomberg since 2005 and ranked #1 for advice to arrangers of leveraged loans by Refinitiv (formerly Thomson Reuters LPC) since 2010.

Mergers and acquisitions: Cahill advises public and private corporations, private equity firms and their portfolio companies, and boards and special committees across a variety of industries in connection with mergers, acquisitions, dispositions, joint ventures, spin-offs and other significant strategic transactions. The firm also advises clients on acquisition finance, growth equity and other minority investments, governance, disclosure and compliance matters, providing its clients a single point of contact and delivering exceptional efficiency.

Corporate advisory: As regular outside counsel to a diverse group of US and non-US private and public companies, Cahill advises on all aspects of corporate governance, regulatory compliance and planning, board and executive compensation, corporate investigations and crisis management and other legal issues in all aspects of our clients’ businesses. In the increasingly important area of ESG, we also provide companies advice on navigating sensitive issues and disclosure. Our extensive experience in this area enables us to provide efficient, cost-effective counseling and guidance on the full spectrum of issues facing companies, at all stages of growth.

Bankruptcy and restructuring: Cahill frequently represents and advises all of the various constituents in complex domestic and cross-border restructuring matters, including formal bankruptcy court proceedings and out-of-court transactions. It has significant experience representing debtors and borrowers, boards of directors, equity sponsors and other investors and regularly represent administrative and collateral agents and lenders, including DIP and exit lenders, with respect to secured financings in bankruptcy and restructuring matters.

Litigation: In its litigation practice, Cahill manages large-scale securities, insurance, antitrust, First Amendment, intellectual property, professional liability and white collar matters that are often international in scope.

Securities litigation and white-collar defense: Cahill lawyers have been on the front lines of largescale securities litigation for nearly a century, focusing on the leading issues of the day. Cahill represents issuers, underwriters, bank lenders, placement agents, officers and directors, accountants, lawyers and broker/dealers in large-scale securities litigation and investigations throughout the world. It has represented participants in complex securities class action litigation and parallel governmental investigations involving financial exposures in the billions of dollars. Often these matters involve coordination with parallel governmental investigations, congressional and regulatory investigations, domestic and foreign bankruptcies and state court actions.

Corporate governance and investigations: Cahill advises boards of directors, special committees, and directors and officers of publicly held companies in significant corporate governance matters and investigations. Its lawyers have extensive experience conducting multinational investigations involving alleged violations of the FCPA, OFAC regulations and commercial bribery laws, BSA and AML. Cahill has managed investigations involving wire, mail, healthcare and tax fraud and fraud alleged under the False Claims Act and those arising from computer hacking and data breaches. Cahill also has a long track record conducting antitrust and price fixing investigations in markets including healthcare, pharmaceuticals, automotive industries, paper products, homebuilding, and tobacco.

Global risk assessment and anticorruption compliance (FCPA) : Cahill’s renowned cross-border risk assessment and due diligence practice advises some of the world’s largest and most respected global companies on the full range of anti-corruption matters, including due diligence, compliance, training, investigations and defense. Leveraging our experience in over 50 countries, our team brings familiarity with local challenges while developing practical compliance solutions.

Financial institution litigation, regulation and enforcement: Cahill’s broker-dealer practice ranges from narrow investigations regarding the activities of individual traders to some of the broadest global financial market inquiries ever undertaken for the largest and most prestigious global broker-dealers.

Antitrust litigation: Cahill’s lawyers are trained in a comprehensive range of antitrust and competition matters, from class action litigation and criminal and civil investigations to M&A and other strategic transactions. Cahill litigators represent clients in major civil and criminal investigations and have extensive experience defending antitrust suits asserting price fixing, bid rigging and boycotts, among other claims. It has been involved in many of the most consequential antitrust class actions in recent years, involving LIBOR, foreign exchange, municipal bond derivatives, insurance brokerage fees, IPO underwriting fees, music CDs, vitamins and thermal fax paper.

DepartmentNameEmailTelephone
Chairman William M. Hartnettwhartnett@cahill.com212.701.3847
Co-Administrative Partner Nola B. Hellernheller@cahill.com212.701.3008
Co-Administrative Partner Kimberly C. Petillo-Décossardkpetillo-decossard@cahill.com212.701.3265

THE FIRM

Cahill is known for having one of the most active and respected capital markets and lending practices in the world. The firm’s reputation is supported by its market presence and deal activity, which has ranked consistently at or near the top of the industry for legal counsel to arrangers, managers and underwriters in debt securities in London and New York. Cahill has been the number one legal advisor to high yield bond underwriters in the US since rankings started in 2005 (Bloomberg) and the top ranked legal advisor to lead arrangers of leveraged loans in the US since 2010 (Refinitiv LPC).

Cahill’s London-based banking and capital markets practice advises global financial institutions and companies on European and transatlantic transactions as well as U.S. transactions for European based companies. The practice provides English law lending and New York law capital markets and loans expertise across the spectrum of lending institutions, from investment and commercial banks to private credit providers and institutional investors. Together with the firm’s capital markets and leveraged finance teams in New York, the firm’s relationships with the leveraged finance market’s leading lenders means the London practice is involved in some of the most sophisticated and challenging leveraged finance transactions. The practice has been ranked as the top 2 legal counsel to Western European high yield bonds for the first half of 2022 (Debtwire), the top 3 adviser to lead banks of Western European leveraged loans for 2021 by volume (Debtwire) and the top 4 legal adviser to managers and lenders in European leveraged finance for 2021 by deal count (Bloomberg).

PRINCIPAL AREAS OF WORK

Leveraged Finance:

The London office’s integrated English law and New York law finance practice regularly acts as lender counsel for leveraged financings as well as other structured financings, and represents lenders across the credit spectrum on financial products from high yield to term loan, unitranche and PIK financings. The practice advises clients at all stages of the financing process.

Capital Markets:

The London practice acts for underwriters and issuers in debt, equity and equity-linked securities offerings and for dealer managers and solicitation agents in exchange offers, tender offers and consent solicitations in leveraged, distressed, high-grade and cross-over transactions.

Litigation and Investigations:

The London litigation practice represents banks, hedge funds and large corporates in matters ranging from risk advisory work to internal investigations to complex commercial litigation. Many of its matters are cross-border in nature, with a particular focus on the U.S. Significant recent victories for the practice include acting for Credit Suisse in its successful application for summary judgment in a substantial claim brought against it by the Libyan Investment Authority.

DepartmentNameEmailTelephone
Co-Administrative Partner, London Banking and Capital Markets Anthony K. Tamaatama@cahill.com44.20.7920.9805
London Banking and Capital Markets Jonathan Brownsonjbrownson@cahill.com 44.20.7920.9809
London Banking and Capital Markets Jake Keavenyjkeaveny@cahill.com44.20.7920.9808
Litigation Richard Kellyrkelly@cahill.com44.20.7920.9818