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Mezzanine Lending

Thompson & Knight represents lenders in transactions with credit risks that justify higher returns than those available in the traditional commercial loan bank market, such as unitranche, second lien, and subordinated debt facilities.

Overview

Thompson & Knight represents lenders in transactions with credit risks that justify higher returns than those available in the traditional commercial loan bank market, such as unitranche, second lien, and subordinated debt facilities.

Collateral security, bankruptcy structuring, and intercreditor matters are extremely important to these clients, and our lending attorneys work closely with our bankruptcy, oil and gas, tax, and real estate attorneys to develop tailored transaction structures to provide maximum protection for our clients.

We also work closely with our private equity and corporate and securities colleagues when these transactions call for equity kickers or other equity features, such as warrants and equity co-investments. We also use these skills and experience to serve our borrower clients in mezzanine loan transactions.

Ranked among the top firms in Texas for Banking and Finance in Chambers USA 2019 by Chambers and Partners

Consistently ranked as one of the top financing firms in the United States in The League Tables published by Loan Pricing Corporation

National ranking for Banking and Finance Law in “Best Law Firms” 2019 by U.S. News-Best Lawyers®

Experience

  • Represented first-out lenders and last-out lenders in multiple unitranche financing facilities for companies in various industries, including transportation, cybersecurity technology, digital marketing, and medical claims processing
  • Represented the second lien agent in the second lien secured financing for an oil and gas exploration company
  • Represented a mezzanine lender in a $400 million term loan and $75 million revolving credit facility for a gas gathering and processing company
  • Represented a commercial loan manager and servicer, as agent, in connection with a $230 million mezzanine loan
  • Represented a private equity firm in Mexico in the design and implementation of mezzanine lending programs
  • Represent various mezzanine lenders in workouts of oil and gas loans
  • Represented an oil and gas exploration company in a $230 million second lien term loan financing