Education

University of Illinois College of Law, J.D., magna cum laude, 1987

  • Order of the Coif

University of Illinois, B.S., Accounting, with high honors, 1983

Admitted

Illinois

U.S. District Court, Northern District of Illinois

Memberships

American Bar Association, Commercial Finance Committee Member

Loan Syndications and Trading Association, Primary Market Committee Member

Steve Hastings is the Co-Practice Group Leader of the Commercial Lending Group and a partner in the firm’s Banking and Financial Services Department. He is also the Knowledge Management and Technology Partner for the firm. He represents banks and other financial institutions in transactional matters as well as regulatory compliance. Steve has been practicing law since 1987 when he joined Chapman and Cutler LLP. He concentrates primarily on structuring and documenting secured and unsecured credit transactions. His experience includes work on asset based financings, working capital and term loan financings, leveraged buy out financings, and ESOP financings, including representation of lenders (individually and as agent) on workouts, debtor-in-possession financings, and debt restructurings.

Representative Transactions

  • Represented administrative agent and lead lender in a $455 million secured revolving credit facility extended to a national equipment transportation finance and leasing company
  • Represented administrative agent and lead lender in a $145 million secured revolving credit facility extended to a national equipment finance and leasing company
  • Represented administrative agent and lead lender in a $120 million secured revolving credit facility extended to a national consumer finance company
  • Represented secured lender in a $45 million secured revolving credit facility extended to a regional commercial finance company
  • Represented administrative agent and lead lender in a $35 million secured revolving credit facility extended to a national automotive parts recycler
  • Represented secured lender in a $12.6 million secured revolving credit facility extended to a food processor
  • Represented DIP agent and lead DIP lender in a senior secured, super priority post-petition credit facility extended to a national agricultural grower

Presentations

  • “Basics of Bank Lending”, C&C University, June 2010
  • “They're Back: First Lien/Second Lien Intercreditor Agreements and Related Issues”, Chapman and Cutler CLE Marathon, May 2010
  • “Secured Transactions: Basic of UCC Revised Article 9”, Chapman and Cutler CLE Marathon, May 2008
  • “Commercial Lending, a Primer for Today’s Markets,” Chicago Bar Association Seminar