Finance

Miller Canfield's Financial Institutions and Transactions Group (FIT) attorneys utilize a multi-disciplined team approach to providing financial industry clients with assistance in originations, restructuring, enforcement issues, insolvency, bankruptcy, formation, regulatory compliance matters and capital markets transactions and bond issuance. Each matter is handled by experienced lawyers who have developed specific and focused expertise. Ours is the largest group of dedicated lending attorneys in the State of Michigan, with over 25 attorneys located in the U.S. and Canada.  FIT attorneys also are licensed to appear in many state, bankruptcy and federal courts, including the U.S. Supreme Court and have documented loans throughout the United States, Canada, Mexico and numerous other countries.

Miller Canfield FIT attorneys have assisted our diverse domestic and multinational clients with the documentation of billions of dollars in financing transactions working closely with colleagues in the Municipal Finance Group, the Capital Markets Group, and the Bankruptcy Group. Wherever your financial transactions are located, in the United States, Canada, Mexico, Europe or other parts of the world, you can be assured we have the ideas and solutions to close successfully your financial transactions.

To provide comprehensive finance counsel and assistance, we utilize our attorneys’ broad experience and skill in a wide array of financing transactions, including cross border lending, export/import lending, acquisition financing, ESOP financing, tax exempt financing and construction financing.  We have developed particular capability in the financing of aircraft and other vessels, and are recognized as experts on the Cape Town Treaty, both in the United States and in Canada. Since implementation of the Cape Town Treaty in the North America,  Miller Canfield has completed the representation of more than 25 aircraft financing transactions involving over $100 million in loans.

Miller Canfield’s financing expertise assisted our clients in the following representative transactions:

We represented the agent banks in the syndication of:

• a $180 million secured revolving credit facility to a manufacturer of cabinets and related home improvement products located in the western United States.
• a $150 million revolving credit and $100 million term loan facility to a Midwest U.S. based firm that provides pre-clinical research and development services to the pharmaceutical and biotechnology sectors, with eight other banks.
• a $150 million secured five-year revolving line of credit and term loan to a Texas corporation specializing in the development and implementation of high-speed, interactive wagering and sweepstakes games.
• a $72,000,000 syndicated construction financing for high rise apartment/retail complex in Chicago.
• a $75 million secured three-year revolving line of credit, a $10 million secured five-year draw-to facility, and a $15 million seven-year term loan secured by real estate located in Texas, Oklahoma and Massachusetts, to a Texas corporation specializing in metal distribution. 
•  a $50 million secured five-year revolving line of credit to a California corporation providing major building and heavy civil construction services throughout the United States, Guam and the Philippines.

Representation of other banks and secured lenders included:

• a Michigan-based bank in connection with a term loan and line of credit secured by real and personal property located in Mexico for a Mexican company specializing in steel procurement and processing.
• a Michigan-based bank in a $29 million “big box” retail center construction loan in Florida. 
• a secured lender in connection with the liquidation of 41 gas stations and convenience stores located in Michigan and Ohio.
• a Michigan-based bank in the restructure of a $25 million loan to a waste handling operator, which included the restructure of both mezzanine and subordinated equity financing and was secured by facilities located in Ohio, New York and Massachusetts.