Experience

Commercial Lending - Illustrative Borrower Representations

The following is a list of illustrative borrower transactions handled by attorneys in Verrill's Commercial Lending Group:

  • Representation of a logistics company in a $110 million senior syndicated secured loan facility and a related $25 million senior secured subordinated term loan facility in connection with a refinancing and a multi-national acquisition
  • Representation of an international communications company in a $75 million syndicated revolving credit facility which includes a multicurrency component for the Borrower's foreign subsidiaries in Europe and Asia
  • Representation of a chemical manufacturing business in a loan facility that includes a $1.8 million line of credit and $3.9 million in term loans
  • Representation of the borrower in connection with several different low-income housing projects in states across the country
  • Representation of franchisee with multiple locations in connection with $3.35 million acquisition loan
  • Representation of a Canadian acquirer of a Maine-based manufacturing facility in a term loan and a line of credit from a local bank.
  • Representation of a physicians group in the refinancing of their medical office building.
  • Representation of a lumber mill in obtaining acquisition financing and an operating line of credit with a governmental lender.
  • Representation of a multistate medical services business in obtaining working capital and equipment financing from a California-based lender.
  • Representation of a Massachusetts manufacturer in the financing of the acquisition of a new manufacturing facility and related operating line of credit.
  • Representation of a home health agency franchisee in obtaining multi-million dollar acquisition financing and operating line of credit from a commercial bank.
  • Representation of private equity group's portfolio company borrowers in negotiation of covenant modifications with commercial lenders to accommodate cash flow and other needs.
  • Representation of a Massachusetts manufacturer in the refinancing of credit facilities with commercial banks and subordinated lenders for purposes of redeeming a mezzanine financier's shareholding.

Commercial Lending - Illustrative Lender Representations

The following is a list of illustrative lender transactions handled by attorneys in Verrill's Commercial Lending Group:

  • Representation of lender, administrative agent and swingline lender in connection with an agented secured loan facility aggregating $90 million that includes a revolving loan facility, a letter of credit facility, a swingline loan facility and a term loan, for a petroleum products distribution business
  • $44 million mortgage loan to finance the acquisition of an office complex in Portland, Maine
  • Representation of lender and administrative agent in a secured agented loan facility aggregating $16 million, to finance the acquisition of specialized tanker trucks by a natural gas company
  • $16.5 million construction and term mortgage loan to finance the conversion of a building into an office building
  • $24 million mortgage loan to refinance a commercial building in New York City
  • $15.1 million mortgage loan to acquire a commercial building in Boston
  • $17.4 million construction and term mortgage loan to finance the acquisition and renovation of a commercial building in New York City
  • $24.5 million mortgage loan to finance the acquisition of a commercial building in Somerville, Massachusetts
  • $10.5 million mortgage loan to refinance a hotel located in Durham, North Carolina
  • $12 million mortgage loan to finance the acquisition of two medical office buildings located in Maine
  • $5.6 million construction mortgage loan to a non-profit corporation to finance the construction of a new residential care facility in Maine
  • $20 million unsecured reducing revolving loan facility for a multi-national educational business
  • Secured loan facility aggregating $2.7 million that includes a revolving loan and a mortgage term loan, for a medical device manufacturing business
  • Secured loan facility aggregating $10 million that includes a working capital revolver, an equipment revolver and a term loan, including a letter of credit facility, for a group of food processing businesses
  • Secured loan facility aggregating $17 million that includes a line of credit and a term loan, for a food distribution business
  • Secured loan facility aggregating $24 million that includes a line of credit and a term loan, for a multi-state manufacturing business
  • $25,000,000 secured line of credit for a multi-state industrial and mechanical construction business
  • Secured loan facility aggregating $10.3 million that includes term loans, mortgage loans and a revolving loan facility with a letter of credit facility, for a manufacturing business with locations in two states
  • Secured loan facility aggregating $5 million that includes a line of credit and a term loan, for a communications business
  • Secured loan facility aggregating $11.8 million that includes multiple lines of credit, revolving lines that convert to term loans, and term loans, for a group of equipment repair and restoration businesses
  • Secured loan facility aggregating $28.2 million that includes a line of credit that is seasonally adjusted, a letter of credit facility, term loans and an equipment revolver, for a regional product distribution business
  • Secured loan facility aggregating $6.875 million that includes multiple term loans, a construction loan (converting to term) and multiple lines of credit (for equipment acquisition and for working capital), for a group of nursing homes
  • Secured loan facility aggregating $9.2 million that includes lines of credit and term loans, for a group of companies in the natural resources business
  • Secured loan facility aggregating $8.05 million that includes term loans, a working capital line of credit and an equipment acquisition line of credit, for a machine manufacturing business
  • Secured loan facility aggregating $4.05 million that includes a term loan and a line of credit, for a local utility business
  • $10,000,000 line of credit facility for a multi-national paper making company
  • Representation of letter of credit bank in connection with the issuance of $6,525,000 in aggregate amount of Revenue Obligation Securities issued in connection with an expansion of an existing manufacturing facility
  • Secured loan facility aggregating $30 million that includes an asset-based working capital line of credit and an equipment line of credit, for a distributor
  • Representation of letter of credit bank in connection with the issuance by the Finance Authority of Maine of $5,065,000 in aggregate amount of Revenue Obligation Securities in connection with the construction of a new publishing facility
  • $4,500,000.00 mortgage loan for the acquisition of an office building in New Hampshire
  • Secured loan facility aggregating $5 million that includes a line of credit, term loan and equipment financing facility, for a tool and die manufacturing company.
  • Representation of lender and administrative agent in connection with several different multi-lender line of credit loans (secured and unsecured) provided to publicly held Real Estate Investment Trusts
  • Representation of lender in connection with several so-called "mezzanine loans" secured by pledges of the limited liability company membership interests in the single-purpose entities that own real estate, including the negotiation of intercreditor agreements between the first mortgage lender and the mezzanine lender
  • Continuing representation of the Maine Health and Higher Educational Facilities Authority (MHHEFA), an instrumentality of the state which issues bonds for the construction and renovation of hospitals, nursing homes and higher education facilities

Firm Highlights

Publication/Podcast

Corporate Transparency Act regulations will go into effect soon and will affect almost all startup companies

On August 18, the Maine Venture Fund published an article by Verrill Partner Gregory Fryer, “Corporate Transparency Act regulations will go into effect soon and will affect almost all startup companies.” In the article...

News

Gratitude for Anya Endsley

Event

Conducting Workplace Investigations

Join Verrill’s Erik Peters and Elizabeth Johnston on Wednesday, October 18, for Conducting Workplace Investigations. When and why should you open an investigation? Who is the best person to conduct it? Should you handle...

Matter

Elections and Constitutional Law: Successfully Challenged Certification of Initiative Petition

In a victory for consumers and the ride-hailing public, the Massachusetts Supreme Judicial Court recently barred the Secretary of State from placing on the November ballot initiative petitions proposed by companies such as Uber...

News

82 Verrill Attorneys Recognized by Best Lawyers® 2024, Including 10 Named Lawyers of the Year

Event

Annual Update: The Legal Year in Review

More details coming soon!

Blog

How AI Can Alter Skill Contests

AI could very well be today’s “Modern Prometheus” in the world of skill contests. Earlier this year, the AI-generated photograph “The Electrician” was a finalist in the World Photograph Organization’s Sony World Photograph Awards...

Blog

Retiree Medical Coverage: Just Get the COBRA Waiver

The interaction between employer-provided retiree medical coverage and COBRA [1] is complex. Many employers incorrectly assume they do not have to offer COBRA at retirement if they offer a retiree medical plan or a...

Matter

Successful Representation of Insurer before U.S. District Court for the District of Maine

Verrill successfully represented an insurer before the U.S. District Court for the District of Maine in an insurance coverage matter alleging that the insurer improperly denied a defense and indemnification to a landlord under...

Publication/Podcast

Five Recommended Practices for ERISA Retirement Plan Administrative Fiduciaries

Verrill’s Employee Benefits & Executive Compensation Group is often asked about “best practices” for benefit plan administration and whether we can provide any resources to help plan sponsors and fiduciaries improve compliance with the...

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