Steven R. Rutkovsky
Steve focuses on complex leveraged financing and capital markets transactions. He represents private equity funds and portfolio companies, private credit and direct lending vehicles, and public companies in a wide range of transactions, including acquisition financings, dividend recapitalizations, revolving credit lines and debt restructurings involving senior secured credit facilities, unitranche and mezzanine facilities, and high-yield bond offerings. Steve is chair of the firm’s Opinion Practices Committee.
- Represented Welsh, Carson, Anderson & Stowe in obtaining senior secured credit facilities to finance its acquisitions of U.S. Anesthesia Partners and U.S. Acute Care Solutions.
- Represented Kohlberg & Company in obtaining senior secured first and second lien credit facilities to finance its acquisitions of MarketCast, LLC and CIBT Global Inc.
- Represented Welsh, Carson, Anderson & Stowe in obtaining a multi-fund capital call subscription facility.
- Represented KKR Capital Markets LLC in arranging approximately $1 billion of senior secured credit facilities to finance HIG Capital’s acquisition of TKC Holdings.
- Represented a global asset management firm in funding a $200 million second lien term loan to a hydraulic fracking equipment company.
- Represented Dunkin’ Brands’ Inc. in obtaining senior secured credit facilities in connection with its $2.4 billion buyout by Bain Capital, Thomas H. Lee Partners and the Carlyle Group.
- Quoted, “Understanding Subscription Credit Facilities: Key Concerns Raised by Investors and the SEC (Part Three of Three),” The Hedge Fund Law Report (March 15, 2018)
- Quoted, “Understanding Subscription Credit Facilities: Principal Advantages and Key Points to Negotiate in the Credit Agreement (Part Two of Three),” The Hedge Fund Law Report (March 8, 2018)
- Quoted, “Understanding Subscription Credit Facilities: Their Popularity and Usage Soar Despite Concerns Raised by Certain Members of the Private Funds Industry (Part One of Three),” The Hedge Fund Law Report (March 1, 2018)
- Quoted, “Direct Lenders Help Resuscitate Second-Lien Loan Issuance,” Private Equity Analyst (October 2016)
- Quoted, “Are Private Equity Deals in Trouble?” Bloomberg (January 27, 2016)
- Quoted, “Pro-rata volume jumps as corporate buyers take control of M&A,” Reuters (June 29, 2015)
- Steven R. Rutkovsky, “An Expert’s View: Developments in Middle Market Loan Terms,” Practical Law Journal (February 2015)
- Quoted, “TRLPC: Retailers Test Wary US Leveraged Market,” Reuters (January 30, 2015)
- Quoted, “TRLPC: Burger King markets $7.25 billion loan package for Tim Hortons buy,” Reuters (September 11, 2014)
- Quoted, “Lenders Loosen Up,” M&A Magazine (May 19, 2014)
- Quoted, “Sense of the markets: Terms tighten on middle market loans,” The Deal (April 16, 2014)