Open menu

C&I and Asset-Based Finance

Print PDF

Miller Canfield banking and finance teams provide local, regional and national lending institutions with expert, creative, practical, informed and efficient services in connection with the structuring, negotiating and closing of a broad array of both secured and unsecured C&I finance transactions, including most asset classes, as well as credit enhancement and cash management facilities.

Term and Revolving Asset-Backed Credit Facilities

Our team regularly works with term and revolving asset-backed facilities and lines of credit, capital investment, working capital and receivable facilities (including secured and purchase facilities), project finance, equipment financing and leasing, acquisition financing, debtor-in-possession financings, purpose credits and innovative credit facilities.

Mezzanine Debt and Equity Facilities

We have significant experience in mezzanine debt and warrants/equity kickers, preferred equity and equity co-investments.

Syndications, Participations, Senior and Subordinated Credits

We have extensive experience in the representation of lead and participant lenders as well as administrative agents in structuring, drafting, negotiating, processing and closing syndicated financings involving two-bank, and medium and large bank groups on a regional and national basis. This experience includes syndications, participations, senior and subordinated credits, correspondent banking, industrial revenue bonds and direct bond purchases.

Cross-Border/International/Multi-Currency Facilities

Miller Canfield attorneys routinely document secured credit transactions from cross-river/border offices in both Detroit and Windsor as well as from offices in both Mexico and Poland. From our Shanghai office, we provide both China-domestic and U.S. in-bound financial counsel in connection with a broad array of financial and corporate services.

Treasury Management and Non-Credit Bank Services

We provide our institutions clients with experienced assistance and consultation in connection with their customer treasury management services, including liquidity facilities and operating and financial transactions and facility structuring.

Letters of Credit

We have significant experience representing letter of credit providers in secured and unsecured C&I, bond financing and other letter of credit transactions.

Equipment Leasing and Aircraft Financing

We are recognized aircraft lending specialists in the United States and Canada since the implementation of the Cape Town treaty in 2006. We have guided clients through more than 150 aircraft financing transactions. We are also otherwise actively involved on behalf of middle market and large institutional lenders in the equipment finance market in connection with finance leases, synthetic leases and structured leasing transactions.

EX-IM Lending 

With attorneys trained specifically under the EX-IM Bank training program in Washington D.C., we are primary EX-IM lending counsel for banks under the Working Capital Guarantee and Fast Track programs.

Environmental Services

We provide primary representation to a leading U.S. lending agent and routinely document senior secured acquisition financing services for this growing industry.

Specialty Finance

We counsel our banking clients on ESOP-structured transactions, SBA 504 and 7(A) financing, hospital and school financing and act as underwriter counsel in taxable and tax-exempt financing.

Interest Rate Risk Management

We routinely counsel banking clients on interest rate risk mitigation products, including forward rate contracts, forward rate agreements, futures contracts, interest rate swaps, options, swaptions, embedded options, caps, floors and collars.

We  regularly advise clients in a diverse array of commercial and industrial secured and unsecured financing facilities, including among them the following:

Working Capital Financing

  • $100 million bilateral loan for an energy industry borrower
  • Financing for an international renewable energy firm developing a deep-water off-shore wind project
  • Financing for the acquisition of U.S. flagged commercial fishing vessels supported by commercial vessel mortgages - Represented national bank in $11,375,000 financing for renovation and conversion of a 1906 steamship into an articulated tug barge
  • $65 million revolving loan to automotive supplier
  • $97 million U.S. and $20 million CDN syndicated financing of American and Canadian automotive suppliers
  • $34.2 million financing to manufacturer of natural gas compressors

Ex-Im Bank Supported Financing

  • Represented a regional bank providing domestic and foreign credit facilities to a global manufacturer supported by domestic and foreign subsidiaries and the U.S. Ex-Im Bank
  • Represented a large national bank in providing domestic and foreign credit facilities to a high-tech manufacturer supported by the U.S. Ex-Im Bank

International Financing 

  • Represented a large national bank participating in asset-based secured facilities totaling approximately $2.1 billion including foreign and domestic facilities and exposure in multiple currencies
  • Represented a large national bank in a foreign-letter-of-credit supported domestic revolving line of credit facility to the domestic subsidiary of a large foreign automotive industry supplier
  • Represented a large national bank providing credit facilities to American subsidiaries supported by subordinated indebtedness owed to multiple Korean parent entities

Bank Syndicated Credit Facility and Loan Portfolio Transactions

  • Represented a financial institution in closing a $32 million syndicated credit facility for an automotive industry borrower
  • Coordinator for a national bank client’s participations in ongoing syndicated loan financings
  • Counsel for the purchase of a portfolio of convenience store industry credit facilities spanning 11 borrowing relationships with total commitments approximating $234 million