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David Rosenthal is an associate in Ropes & Gray’s finance group. David has experience in an array of different and complicated financing and restructuring transactions, with a particular focus on direct lending, distressed financing, liability management, special situations, and out-of-court restructurings. David has also advised a number of creditors and interested parties in chapter 11 bankruptcy proceedings.
Prior to joining Ropes & Gray, David was a finance and restructuring associate in the New York office of another international law firm.
Experience
Interested Party Representations in Chapter 11 Proceedings
- Represented an ad hoc group of lenders in the chapter 11 cases of Wolfspeed, Inc. in connection with exit financing.
- Represented an ad hoc group of senior secured lenders in the chapter 11 cases of Exela Technologies in connection with exit financing.
- Represented Deerfield Management as senior secured lenders in connection with a number of chapter 11 proceedings.*
- Representing the Office of the Commission of Baseball (MLB) and certain constituent major league baseball clubs in connection with the chapter 11 cases of Diamond Sports Group.*
- Represented Oaktree Capital Management as senior secured lenders in connection with a number of chapter 11 proceedings.*
- Represented an ad hoc group of first and second lien creditors in connection with the bankruptcy of Lannett Company, Inc.*
- Represented Ares Management LLC in connection with exit financing in the chapter 11 cases of Ferrellgas.*
Direct Lending
- Represented a direct lender in connection with a term loan to Gotham Greens, an indoor farming company and fresh food brand.
- Representing Oak Hill Advisors in connection with a refinancing transaction for a company in the healthcare space.
- Represented Oaktree Capital Management in connection with a term loan and royalty financing for a biopharmaceutical company.*
Borrower Representations
- Represented AZEK Company, Inc. in connection with the refinancing of their existing term loan and entry into a new cash flow revolving facility.*
- Represented AMC Networks, Inc. in connection with the issuance of senior secured notes and an amendment and restatement of their existing credit facility.*
- Represented a private personal finance company in connection with a preferred equity offering.*
- Represented Softbank in connection with a number of syndicated margin loan financings.*
- Represented a leading apparel manufacturing company in connection with amending their existing receivables purchase facility.*
- Represented a private equity firm specializing in late-stage venture capital and growth-stage technology companies in connection with entry into seller financing arrangements related to certain minority equity investments.*
- Represented a private equity sponsor in connection with amending and restating a portfolio company’s credit facility to, among other things, add in a portability feature that was subsequently used to sell the portfolio company.*
- Represented Adient plc, a leading car seat manufacturing, in connection with the issuance of both secured and unsecured notes, as well as amending and extending their existing ABL credit agreement.*
Liability Management and Out of Court Restructurings
- Represented an ad hoc group of first lien secured lenders in connection with an amendment and extension transaction for a global packaging company.
- Represented a private mortgage solutions provider in an out-of-court restructuring in which existing lenders acquired substantially all of the equity in the company.*
- Represented B. Riley Financial in connection with a series of financings, refinancings, and asset monetization transactions.*
- Represented Pabst Blue Ribbon in connection with a priming term loan refinancing transaction.*
- Represented Diebold Nixdorf in connection with a series of transactions to refinance certain debt with near-term maturities, including the entry into a super-priority credit agreement, two exchange offers and consent solicitations, the entry into a new ABL revolving facility, and an exchange of existing term loans into later maturing term loans.*
*Experience prior to joining Ropes & Gray