Alyson Gal is a member of Ropes & Gray’s finance and business restructuring groups. Alyson co-leads the lender-side practice of the firm’s finance group and is the former assistant head of the business restructuring group. In her finance practice, Alyson focuses on junior capital and special situations lender representations in senior secured, unitranche, mezzanine, second lien, and distressed transactions, and she also represents middle market borrowers in financing transactions. In her restructuring practice, she represents purchasers in 363 sales, DIP lenders and purchasers of distressed debt.
Alyson is a guest lecturer on bankruptcy law at MIT's Sloan School of Management, has taught commercial lending in the graduate banking program at Boston University School of Law, and was Vice Chair of the American Bar Association Model Intercreditor Task Force.
- Represented TPG Sixth Street Partners in connection with investment of up to $150 million in senior secured debt, convertible notes and warrants of Caris Life Sciences.
- Represented Skyline Champion Corporation, a portfolio company of Bain Capital Credit, Centerbridge Partners and MAK Capital, which manufactures modular homes, in connection with its $100 million senior secured revolving credit facility.
- Advised TPG Sixth Street Partners in connection with its acquisition of credit assets, including a part of Credit Suisse’s distressed credit portfolio for approximately $1.27 billion.
- Represented an investment firm and a group of subordinated note purchasers in a US$27.7 million issuance of senior subordinated notes of a food production company.
- Represented an investment firm and a group of subordinated note purchasers in a US$75 million issuance of senior subordinated notes of a global supplier of thermal technology systems, solutions and controls for the automotive industry.
- Represented Mast Capital Management, LLC and other financial institutions in an out-of-court restructuring of Sonifi Solutions Inc.'s US $350 million term loan facilities, which included an amendment and restatement of such facilities and concurrent equity co-investments.
- Represented an investment firm in a US$35 million issuance of senior subordinated notes as part of a mezzanine financing.
- Advised Daughters of Charity Hospital System in connection with a US$125 million senior secured tax exempt bond bridge financing.
- Represented TPG Special Situations Partners/TPG Capital in a US$750 million second lien senior secured financing to Chobani, Inc.
- Represented Hancock Capital Partners in a US$40 million issuance of Senior Subordinated Notes of Swanson Industries, Inc.
- Represented a lender in US$38 million second lien secured tranche of financing of leveraged buyout of home health care provider.
- Represented Bain Capital Credit and Metropolitan Life Insurance Company in connection with US $40 million senior subordinated notes of Kel-Tech, Inc.
- Represented Highbridge Capital in connection with US$350 million second lien tranche of indebtedness issued in connection with financing of IPC Systems in 2014.
- Represents TPG Opportunities Partners in connection with the restructuring of Perkins Rowe, a distressed Louisiana real estate development project.
- Represented AMP Capital in US$100 million secured holdco financing of Astoria Project Partners.
- Represented Hancock Capital Partners in a US$52 million issuance of senior subordinated notes of Phillips & Temro Industries.
- Represented Hancock Capital Partners and Carlyle Mezzanine Partners in a US$36.5 million senior subordinated notes issuance to Specialty Processing, LLC.
- Represented CPMG as finance counsel in connection with joint venture to fund management and exploitation of intellectual property rights.
- Represented a lender in a senior secured loan to an elite fitness company.
- Represented a lender in US$20 million senior secured second lien financing to a casino developer and operator in the United States.
- Represents TPG Opportunities Partners in a US$247 million first lien senior secured financing to Allen Systems Group, Inc.
- Represented bondholders in the Premium Standard Farms and Grand Union Chapter 11 bankruptcies.
- Represented funds advised by Highland Capital in debtor in possession financing and first lien debt restructuring of Broadstripe, LLC.
- Represented GoldenTree Asset Management in debtor in possession and exit financing of Port Townshend Paper Company, as well as other private debt investments and restructuring transactions.
- Represented Agent in One Communications senior secured financing.
- Represents SVP Worldwide (Singer/Viking/Pfaff) in connection with senior secured and mezzanine cross border financings.
- Represented Stalking Horse bidder in 363 acquisition, via credit bid, of Champion Home Builders, and subsequently represented Champion Home Builders as a 363 sale bidder for assets of Palm Harbor Homes.
- Represented ad hoc committee of First Lien Lenders in Ion Media.
- Represented Reebok International as the acquirer of the assets of LogoAthletic, Inc via 363 transaction.
- Represented Palisades Associates as the acquirer of the assets of Communications Dynamics, Inc./TVC Communications, both through section 363 sales in bankruptcy.
- Represented Maine Medical as the acquirer of the assets of Jackson Brooke Hospital through a Chapter 11 plan.
- Represents Cortland Capital as agent in restructuring senior secured debt of Source Interlink companies.
- Quoted, “Ropes & Gray Survey and Forum Consider Credit Fund Structures, Leverage, Conflicts of Interest and Challenging Environment (Part One of Two),” The Hedge Fund Law Report (July 19, 2018)
- Quoted, “Credit fund managers turn to opportunities in distressed debt,” Private Equity Wire (May 25, 2018)
- Quoted, “Ropes & Gray: Credit managers turn to distressed debt,” Opalesque (May 24, 2018)
- Alyson Gal and Thomas Draper, “Credit Facilities for Registered Investment Funds,” ICLG, Public Investment Funds 2018, 1st Edition (April 2018)
- Quoted, “New dawn for mezzanine,” Private Debt Investor (February 21, 2018)