The Credit Tenant Loan Finance Group has built on
Chapman and Cutler LLP's broad experience in secured and unsecured
financing to focus necessary resources in the area of credit tenant
loan finance.
Over the
last three years, the Credit Tenant Loan Finance Group participated in
credit tenant loan transactions involving over $1 billion per year.
The
experience and ability of the large group of Chapman and Cutler
attorneys who devote their practice to corporate finance including
credit tenant loan transactions, is widely recognized. The firm
regularly represents institutional investors in numerous credit tenant
loan transactions of varying size and complexity.
The
firm's breadth of experience in credit tenant loan transactions
includes a wide variety of issues including structural issues. We have
a national reputation in this regard and are regularly selected by
placement agents to serve as investors' counsel in credit tenant loan
transactions.
Additionally, we are regularly called upon to
review and analyze the structure of proposed credit tenant loan
transactions and prepare NAIC filing packages for institutional
investors in compliance with Securities Valuation Office guidelines for
Schedule D treatment.
Representative Transactions
Our
practice group negotiated a $327 million ground lease financing of 839
restaurant sites leased to one of the world's leading food service
retailers. This transaction included the innovation of tenant
self-insurance for title coverage.
When a major northeast university needed $22 million in construction financing, we negotiated the transaction.
The firm assisted one of the world's largest banks in a complex $200 million, seventeen-property credit tenant lease financing.
We
negotiated an $18.9 million single-property credit tenant loan
financing of the main branch of the U.S. Postal Service located in a
major city in the Northeast.
We
served as counsel during a $60 million credit tenant loan financing
negotiation for six medical office buildings and hospitals in the upper
Midwest. The deal included a bank-financed portion with interest reset
after five years.
When a
technology company needed $38 million to purchase a data center in the
Northeast, Chapman and Cutler was retained for the financing, which was
structured as a credit tenant loan, involving a long-term lease of the
property to a major U.S. bank. The credit tenant loan structure
provided the company substantially greater value than alternative sale
options. With the firm operating in bankruptcy, the asset sale was
conducted through a bankruptcy court-approved Section 363 auction.
Chapman
and Cutler was engaged for a $100 million multiple-property letter of a
credit-backed construction financing program for major oil company.
We negotiated $60 million in construction financing for a retail shopping center located in Chicago.
Additionally,
the firm handled a $6 million single-property sub-sublease financing
for a grocery chain. The sub-sublessor obtained its interest by
securing designation rights during bankruptcy proceedings involving the
former retail user of the property.
Chapman
and Cutler attorneys collaborated on a $28 million single-property
financing negotiation for a healthcare provider with a condominium
ownership structure.
We provided legal representation on a $15 million REMIC pool for a retail chain.
The
firm was retained to negotiate a $310 million "lease securitization" of
the rents payable by a large U.S. bank for a Class A office tower used
as its regional corporate headquarters on the West Coast.
When
an Alaskan regional corporation sought $40 million in single-property
credit tenant loan financing for its headquarters, we were selected for
the engagement.
Our practice
group handled a $125 million senior unsecured note issuance used to
finance the construction of the national headquarters of a major
insurance company, later converted into a credit tenant loan
transaction upon the completion of the project.
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