Banking & Finance: Illinois

THE FIRM Mayer Brown's Chicago office remains a dominant force in Illinois finance, with its team of 60 attorneys and a practice geared towards secured and unsecured lending, subscription, acquisition finance, projects and equipment finance, and leasing transactions. The firm's prestigious client base, which accommodates borrowers and lenders, includes names such as JPMorgan, Credit Suisse and ProLogis.

Sources say: "Mayer Brown is an excellent firm with a great reputation and respect in the industry." 

KEY INDIVIDUALS Robert Baptista is "a top-notch lawyer" who is "well known in the area of finance," especially in relation to syndicated financing transactions. Recently, he represented Aspen Insurance Group in relation to a $1.05 billion credit facility.

Douglas Doetsch operates his finance practice with a focus on cross-border work, particularly with South American countries. Cochair of the firm's global banking and finance practice, and head of its Latin America team, clients assert that he "adds a lot of value to transactions." He recently represented a syndicate of lenders, led by Scotiabank Inverlat and Inbursa, regarding a $450 million credit facility for Grupo Lamosa SAB de CV.

Head of the firm's CDO practice, Paul Forrester handles a range of structured and traditional finance transactions, and brings a wealth of experience in energy and projects.

John Lawlor "is obviously very smart," according to one market source, who adds: "His strength is his attention to detail - he investigates every point to make sure the client is not jeopardizing its position." He looks after a range of lender and borrower clients and offers a niche in capital call facilities.

THE FIRM Sidley Austin's Chicago-based banking and finance team is consistently involved in some of the market's most complex and significant work. Acting on behalf of both lenders and borrowers, it has recently been busy in a mix of refinancings, leveraged and acquisition financings and cross-border financings. As a specific example, the firm represented Colgate-Palmolive in a $1.8 billion credit facility for which Citibank acts as administrative agent.

Sources say: "They're extremely strong. It's why I go back to them time after time."

KEY INDIVIDUALS James Clark's commercial law and secured finance practice wins him the commendation of peers, who say he is "top-notch" and "a great lawyer." Recently, he represented U.S. Bank National Association, as administrative agent, in a $450 million credit facility to Graco.

"The exceptionally good" Michael Gold "can do any kind of transaction," according to market commentators. He is singled out in particular for his expertise in workouts and restructurings. He recently represented GE, as administrative agent, in a $180 million credit facility for Westwood One.

Bruce Bernstein is "a super guy and a great lawyer," respected for being a "tremendous contributor to the market." Recognized for lender representations, he is noted for his skill in secured transactions and restructurings.

Zulfiqar Bokhari is a "very efficient and relationship-oriented" attorney who focuses on senior credit facilities. "The way he lays out deals and explains them is just top-notch," said a source. He has recently represented BNP Paribas, Bank of America and JPMorgan Chase as administrative agents in credit facilities for various borrowers.

Allison Satyr, who focuses on syndicated and single-lender financings, is adored by clients, who assert that she is "fantastic, extremely knowledgeable and very thoughtful." She is commended for her willingness to "take the extra step - 'you ask the question and I'll walk you through a diagram' - always very thorough in her analysis."

THE FIRM Goldberg Kohn focuses almost exclusively on the middle market, representing mezzanine and senior asset-based lenders in transactions across a range of sectors and industries. Recently, the team has done a lot of work on behalf of Toronto-Dominion Bank (TD) and also represented Wells Fargo Capital Finance in an asset-based revolving loan facility for Coleman Cable worth $250 million.

Sources say: "The level of service with Goldberg Kohn is unsurpassed."

KEY INDIVIDUALS David Mason is a main point of contact for a number of the group's clients, who report that he is an exceptional lawyer. He primarily represents commercial lenders on acquisitions, working capital and mezzanine financing.

Chair of the firm's commercial finance group, David Dranoff handles a broad range of finance transactions, including asset-based secured loans and complicated LBO and cash flow transactions. He recently represented US and Canadian administrative agents in relation to a syndicated asset-based credit facility to finance an acquisition.

Principal Richard Kohn "has always been a presence in the Chicago secured lending community" and focuses mostly on cross-border asset-based lending. Recently, he handled the international elements of $650 million in senior loan facilities on behalf of lead arranger TD.

Joel Brown is commended by sources as "responsive and accessible" and someone who demonstrates "thorough understanding of the key issues." He was lead partner in the representation of TD.

Gary Zussman is "a very capable lawyer" and a prominent name in the Chicago commercial finance market, practicing on behalf of both asset-based and cash flow lenders. He led on the Wells Fargo representation mentioned above. 

Jonathan Cooper is "a very, very smart guy" and a "very good young lawyer," according to sources, who also make reference to his considerable experience in cross-border work.

THE FIRM Kirkland & Ellis's 40-lawyer debt finance team focuses on three key components: acquisition financing, distressed financing and credit facility structuring and management. Its client list includes a healthy stable of lenders, including pension and private equity funds and mezzanine lenders, and an impressive array of borrower clients that range from Fortune 50 to emerging growth companies. Recent highlights include representing Bristol-Myers Squibb regarding a $1.5 billion revolving credit facility with a syndicate including JPMorgan Bank and Citibank.

Sources say: "They're phenomenal!" 

KEY INDIVIDUALS Practice head Linda Myers is nationally recognized as "a very good debt lawyer," esteemed for her representations in a succession of high-value and high-profile transactions including the Bristol-Myers Squibb matter mentioned above.

Christopher Butler "really knows what he's talking about, knows the market and is a good negotiator," particularly in relation to leveraged financings and acquisitions on behalf of private equity firms. Recently, he represented Golden Gate Capital in relation to a $1.1 billion credit agreement with the Cayman Islands branch of Credit Suisse AG for portfolio companies SoftBrands and Lawson Software.

Michelle Kilkenney "just goes above and beyond" in her debt financing practice, a recent example of which is her work on behalf of YRC Worldwide in its $1 billion-plus restructuring.

Maureen Sweeney has built her practice around the representation of public companies, commercial lending institutions and private equity groups. Recently, she worked on a $1.5 billion financing facility for communications company client DBSD North America.

Michael Wright's international practice spans acquisition, asset-based and mezzanine financings. He recently represented sponsor Madison Dearborn and borrower BWAY Holding in relation to the repricing and maturity extension of BWAY's loan and credit facilities.

THE FIRM Latham's 20-strong team offers experience in borrower and lender-side representations, servicing major banks and commercial finance lenders as well as private equity firms and their portfolio companies. The team is experienced in, among other matters, asset-based and acquisition financing, and has recently represented the likes of Black Diamond Commercial Finance and GE Capital Corporation as agents in relation to credit facilities.

Sources say: "Latham is doing some of the most prestigious bank debt work."

KEY INDIVIDUALS David Crumbaugh is the most senior member of the Latham group and is widely regarded as "a very, very fine lawyer and a first-rate guy." The global chair of the firm's banking practice, he focuses on representing lenders in various types of financings.

Brad Kotler, global vice-chair of the firm's finance department, is hailed by sources as "a superstar in the making." Praised for his "strength in the leveraged finance space," he also earns the respect of clients for being "very knowledgeable, reasonable and a good negotiator" and someone who "responds quickly, provides good advice and understands and can separate legal versus business issues."

The "high quality" David Rathgeber is cited as a "powerful negotiator" and "strong client advocate." He has recently represented Platinum Equity in the financing of its acquisition of Nesco, an equipment rental company, and WestView Capital Partners in a $23 million acquisition financing for LDiscovery.

James Doran works largely on behalf of banks, such as regular client JPMorgan Chase, in matters concerning secured and unsecured credit facilities.

Jeffrey Moran focuses on the lender side of transactions and is experienced in a range of secured financings. He has been key to the team's recent work on behalf of Black Diamond and GE Capital Corporation.

THE FIRM Winston & Strawn's Chicago banking and finance team represents financial institutions and borrowers in matters ranging from corporate lending and securitization to lease and project finance. The firm's recent clients include leading banks such as Deutsche Bank and JPMorgan Chase and major companies such as Motorola, which the team recently represented regarding a $1.5 billion credit facility.

Sources say: "The firm has an extremely deep bench."

KEY INDIVIDUALS Gregory Murray is praised as "an absolutely top-shelf lawyer" by peers. "He's a fabulous guy, practical, smart, and great on acquisitions." He has recently been acting as agent's counsel to JPMorgan, Wells Fargo and Bank of America in relation to numerous senior secured credit facilities.

Veteran of the Chicago finance market, Charles Boehrer has a practice centered on leveraged finance transactions for borrower-side clients. He was the lead partner on the Motorola transaction and also recently advised Lear Corporation in relation to a revolving credit facility.

Ronald Jacobson is "intellectual, hardworking and active in asset-based lending," as observed by peers who are acquainted with the co-head of Winston's corporate lending and capital markets groups.

THE FIRM Jones Day's Chicago team has a broad practice handling everything from midmarket work to very complex financings, often with cross-border aspects. In a notable recent matter involving international elements, the team represented Texas Instruments in financing for the $6.5 billion acquisition of National Semiconductor Corporation. The team's roughly 50-50 lender-borrower client base includes the likes of Xcel Energy, Bank of America and PNC Bank Corp.

Sources say: "They can handle day-to-day matters as well as sophisticated deals."

KEY INDIVIDUALS Robert Graves is the "very practical and knowledgeable" cochair of the firm's banking and finance practice. He took the lead in the financing aspects of the Texas Instruments matter. The financing consisted of a $1 billion unsecured revolving credit facility and a $2.5 billion unsecured bridging loan facility. "He's a terrific lawyer," said a source.

THE FIRM The Chicago office of Katten Muchin Rosenman fields a dedicated group of 28 finance lawyers, with expertise in a range of sophisticated transactions, including syndicated cash flow facilities and asset-based loans, and a particularly active presence in the midmarket finance community. Representing lenders and borrowers, the team has expertise across a range of industries, but has a standout presence in financing for sports franchises.

Sources say: "The firm has a deep bench of attorneys with strong market intelligence."

KEY INDIVIDUALS Chair of Katten's commercial finance practice group, Stuart Shulruff is hailed by appreciative clients as "the smartest guy in our business" and "an exceptional point of contact" for syndicated secured cash flow. 

Michael Jacobson is co-head of the firm's junior capital practice, specializing in mezzanine financing and restructuring transactions.

THE FIRM Skadden's streamlined Chicago team has an impressive showing in the market, assisting a wide variety of lenders, investors and borrowers in all manner of financing transaction, including syndicated loan facilities, mezzanine financing and acquisition financing. It also represents lessors and lessees of equipment and facilities, such as aircraft and power plants. Recent work includes negotiating senior secured credit facilities on behalf of Freescale Semiconductor, J.C. Penney and Ecolab.

Sources say: "One thing in particular that I appreciate about Skadden is that it's easy to get partner or senior-level attention. They're very, very responsive and understand our position. They're very helpful in thinking through issues."

KEY INDIVIDUALS Seth Jacobson, commended by peers for "really leading the charge," heads the Chicago banking practice. He led the representations of Freescale Semiconductor and J.C. Penney, but also frequently advises lenders such as Bank of America and JPMorgan Chase. "When I have a difficult situation and need advice on something challenging, he's probably the one whose feedback I trust the most," said a source.

The broadly experienced Lynn McGovern has recently represented fertilizer giant CF Industries in a loan facility, and the Chicago Mercantile Exchange in its $1 billion credit facility.

THE FIRM A large part of Vedder Price's practice focuses on representing lessees and lessors in equipment financing matters, largely within the transportation arena. In this space, the team is undoubtedly a huge force, but it is also more than capable representing borrowers and lenders in asset-based and cash flow facilities and loan restructuring. The team recently advised Airbus on its financing commitment as part of the $5 billion purchase by American Airlines of 260 aircraft from Airbus.

KEY INDIVIDUALS Dean Gerber chairs the firm's global transportation finance group and was the lead partner on the Airbus matter mentioned above. He also represented US Ex-Im Bank in relation to the $175 million export credit financing of an aircraft and a spare engine for Air New Zealand. "I'm a huge fan," said a peer.

John McEnroe "is terrific and my deals with him have been consistently good," said a source. Specializing in commercial finance transactions, he has recently been busy on behalf of BMO Harris Bank, Bank of America and RBS Business Capital in relation to various lines of credit.

THE FIRM With a firm-wide focus on finance, Chapman and Cutler's Chicago team has developed from its roots in the municipal bonds arena to a modern practice spanning the range of traditional financing transactions, securitizations and lease financings. It receives special market recognition for representing insurance companies in private placements.

Sources say: "They do a superb job. Everything I see of theirs is superb."

KEY INDIVIDUALS Morrison Warren is a key contact.

THE FIRM DLA Piper's Chicago-based team has expertise in debt restructuring, project finance and general secured and unsecured lending. It primarily represents lenders but also works with borrower clients. Recent work includes representing BNP Paribas Securities in a number of project bond matters.

KEY INDIVIDUALS Gianluca Bacchiocchi is a key contact.

THE FIRM The team divides its practice into three distinct products: finance, public finance and structured finance. It is particularly strong on public finance, and recently acted as bond counsel to the Illinois Finance Authority, Southern California Edison Company and California Statewide Communities Development Authority, among others. On the traditional finance side, the team represented JPMorgan Chase in relation to a $70 million syndicated loan to Horizon Hobby.

Sources say: "They're always amenable to meeting timetable requirements and are great at interfacing with public authorities." 

KEY INDIVIDUALS Matthew Lewin is regarded as "a superb lawyer in every sense of the word," particularly for municipal finance work. He served as bond counsel to Illinois Finance Authority in relation to its first issue of tax-exempt Midwestern Disaster Area Bonds.

THE FIRM This group splits its midmarket-centered practice roughly 50-50 between the representation of borrower and lender clients. This flexibility and knowledge gives the practice an edge in terms of being able to meet the demands of a range of transactions, which in recent times have included bank finance, mezzanine lending and private placements of high-yield debt.

KEY INDIVIDUALS Practice head Michael Boykins recently advised Fila Korea and Mirae Asset Private Equity on the financing aspects of the $1.225 billion purchase of the Acushnet golf business from Fortune Brands.

THE FIRM This team focuses on the midmarket, representing lenders and borrowers in syndicated lending transactions as well as mezzanine, acquisition and equipment financing. Recently, the team has represented Wells Fargo and RBS Citizens in relation to credit facilities for various borrowers.

KEY INDIVIDUALS Joel Schaider is commended for his "strong business judgment and acumen." He focuses on secured and unsecured financing facilities and has been key in the representations of Wells Fargo and RBS Citizens.

THE FIRM Schiff Hardin stands out for its representation of bank clients in M&A, regulatory compliance and fiduciary litigation. It is also noted for its representation of insurance companies in private placements.

KEY INDIVIDUALS Scott Pickens focuses primarily on the midmarket and is noted for his representation of regional banks. Peers confirm that "he does great work."

Since publication, Ami Scott has joined the firm from Mayer Brown. She represents financial institutions and borrowers in a wide range of secured and unsecured financings.

THE FIRM The team here particularly stands out in the healthcare arena and has been busy of late in restructurings and refinancings within the Continuing Care Retirement Community. The team also represents midmarket lenders in syndicated and single-lender financings and has an active public finance practice.

Sources say: "We've been impressed. Very thorough and the turnaround time has been good."

KEY INDIVIDUALS Donald Schwartz is "highly skilled and very well respected" for his practice in bank and insolvency law. He has recently been counseling Fairview Ministries in a workout involving Chapter 11 sales and DIP financing.