Bill Brady is a Partner in the Corporate Department and a member of the Finance Group as well as the Multi-Tranche Finance Group.
Bill's practice focuses on complex finance transactions and credit arrangements, particularly those financings that include a junior capital component or multiple tranches of debt. He regularly structures and negotiates a wide range of financing facilities, such as mezzanine debt, second -lien loans, bifurcated uni-tranche facilities, first-out/last-out and term "B" facilities, and holdco note purchases.
Bill represents a broad array of lenders and investors, including traditional mezzanine funds, second lien lenders, hedge funds, BDCs, SBIC funds, one-stop shops, insurance companies, and specialty finance companies, often in the context of domestic and cross-border leveraged buyouts, recapitalizations, refinancings and restructurings. Over the past five years, Bill has structured and closed more than 150 financings for transactions ranging from $10 million to $2 billion.
Bill has extensive experience in intercreditor and interlender issues, secured creditor and bankruptcy rights and debt restructurings, and he regularly negotiates intercreditor and subordination agreements, agreements among lenders and other complex interlender agreements. His experience extends across a variety of industries, including technology, healthcare, energy, retail, media, communications, gaming, pharmaceuticals, biotech, manufacturing, financial services, insurance, security, and food services.
Chambers USA has recognized Bill for "standing out as an excellent negotiator" and being "very practical and clearly identifying the 'must have' versus the 'nice to have' elements of a transaction."
Bill speaks at various junior capital, multi-tranche finance and related finance conferences and seminars. He most recently moderated a panel on "Uni-Tranche Lending; Why Its So Popular With Sponsors" at the Atlantic Conferences Symposium on Mezzanine & Middle Market Finance in May 2012.
Bill's recent transactions include representing:
The agent and lead last-out lender in a $225 million bifurcated uni-tranche loan to a sponsor-backed software company to refinance existing debt and fund a dividend recapitalization
A second lien agent and lenders in a $45 million second lien loan to a sponsor-backed packaging company to refinance $200 million of high yield bonds
The agent and lenders in a $55 million secured mezzanine loan in connection with a $195 million sponsor-backed cross-border acquisition of a packaging company
The agent and lenders in a $45 million split collateral term loan on a "last-out" basis and a $7.5 million unsecured mezzanine loan to a sponsor-backed retail company to refinance existing debt and fund a dividend recapitalization
The agent and lenders in the purchase of $20 million of subordinated notes in connection with a $110 million sponsor-backed acquisition of a food service company
The lenders in a $45 million holding company loan to refinance existing debt and fund a dividend recapitalization
The agent and last-out lenders in a $75 million bifurcated cross-border uni-tranche loan consisting of UK, Canadian and U.S. term loans to a sponsor-backed software company in order to refinance existing debt and fund a dividend recapitalization
The agent and lenders in a UK-based €35 million mezzanine loan in connection with a €265 million sponsor-backed acquisition of a Dutch clothing retailer
Secured and unsecured mezzanine lenders in connection with a $125 million consensual foreclosure of a sponsor-backed personnel company, restructuring the balance sheet and converting substantial portions of debt to equity