Overview

Ropes & Gray’s credit opportunities practice is distinguished by its ability to deliver innovative and strategic solutions across a wide range of event-driven and opportunistic financing transactions. Our attorneys are well versed in representing both lenders—such as credit funds and alternative capital providers—and borrowers in direct lending, distressed investments, liability management transactions and comprehensive debt restructurings. We cater to a broad array of market segments, from lower middle-market to large-cap. Furthermore, we provide corporate advisory services, including strategic counsel on both public and private securities offerings, to ensure that our clients are well positioned to capitalize on opportunities and navigate risks.

By harnessing our extensive knowledge and experience in critical areas—including finance, asset management, tax and restructuring—we craft tailored solutions for clients’ unique needs while keeping clients abreast of the latest market trends, innovative financing structures and prevailing market precedents.

With a commitment to delivering effective capital solutions, Ropes & Gray's credit opportunities practice stands at the forefront of the industry, ensuring that our clients achieve their strategic financial objectives.

Experience

Lender Side Financing Transactions

We have represented:

Marathon Asset Management in connection with lending a second lien credit facility to Quantix, a supply chain services company for the world's chemical industry.
Blue Torch Capital in connection with lending a term loan to a gaming audio accessory company.
Lenders in connection with the provision of second lien credit facilities and the related issuance of warrants for K2 Pure Solutions, a Canada-based manufacturer of water purification and disinfection products.
Blue Torch Capital in connection with lending a senior secured term loan to OptimizeRx, a healthcare technology company.
Lenders in connection with the provision of preferred stock financing to Information Grid, developer of an infrastructure management platform.
Blue Torch Capital in connection with the provision of debtor-in-possession (DIP) financing to AgileThought, a computer services company.
Aquiline Credit Opportunities and Energy Impact Partners in connection with their $40 million senior secured term loan to a leading provider of end-to-end solutions and services for technology transformations.
A private investment fund in its loan to CoreWeave, a specialized cloud provider.
Baupost Group in connection with providing a convertible loan to Outbrain, a leading recommendation platform for the open web.
Blackstone in a strategic financing collaboration for up to $1 billion in funding with PTC Therapeutics, a global biopharmaceutical company.
Blue Torch Capital in connection with providing financing in the form of up to $35 million of term loans to a leading enterprise software platform and data provider.
Marathon Asset Management in connection with extending a $100 million senior secured term loan and a $10 million senior secured revolving facility to Family Entertainment Group, an operator of entertainment centers.
Keyframe Capital in connection with a $50 million senior subordinated convertible note financing issued by Arcadia Power, a climate technology company.
A hedge fund in connection with the provision of approximately $2 billion DIP financing to Avianca Holdings S.A., a leading Latin American airline holding company.
An investment management firm in the purchase of a portion of $250 million senior secured notes issued by Voyager Aviation Holdings, a provider of aviation investment and leasing services.
Hilco Merchant Resources in its $23.5 million loan to RigMax Rigco.
Siguler Guff in connection with providing financing to NWS Technologies.
Sound Point Capital Management in a $152 million loan to certain newly formed affiliates of AmTrust Financial Services.
Sixth Street in connection with providing $175 million clinical trial financing to Clovis Oncology, a biopharmaceutical company.

Borrower Side Financing Transactions

We have represented:

AccentCare in an uptier debt exchange that resulted in near-unanimous lender participation, raised $175 million of new money capital, and extended the maturity of its existing $1.3 billion of debt by two years.
Trinseo and certain of its affiliates in connection with a $1.1 billion innovative financing transaction addressing the company’s 2024 senior secured term loans and $385 million of its 2025 unsecured bonds.
Rodan & Fields in the development, negotiation and consummation of a cutting-edge uptier debt exchange that resulted in near-unanimous lender participation and reduced the company’s debt burden by over $100 million, raised $30 million of new money capital, and extended the maturity of its existing loans by two years.
Tecomet, together with certain of its affiliates, in the refinancing of its approximately $1 billion capital structure, including through the provision of a new revolving credit facility and privately placed first lien term loan.
iMedia Brands and its affiliated debtors in connection with its DIP financing facility for its pending chapter 11 cases.
Juice Plus+ in the negotiation and consummation of an out-of-court restructuring transaction with the unanimous participation of the company’s lenders that reduced the company’s debt and preferred equity obligations by over $300 million; extended the maturities of its revolving credit facility and term loans by four and two years, respectively; and raised $30 million of new money from the company’s existing equity holders, who retained control of the company.
Eastern Airlines in connection with its COVID-related loans from the U.S. Department of the Treasury and its asset-based term loan credit facilities.
Tronox Holdings in its refinancing of certain of its outstanding indebtedness with a global $1.3 billion term loan and revolving credit facility and $1 billion of senior unsecured notes.
Centric Brands in a bankruptcy reorganization plan delivering the company’s $1.7 billion in funded debt and a global settlement supported by all of its secured lenders and the official committee of unsecured creditors.