In our transaction-focused practice, our lawyers regularly participate in some of the most significant deals in the marketplace. In addition to Cahill's prominent capital markets and lending practice, our restructuring, mergers and acquisitions and general corporate advisory practices provide our clients with a full complement of qualifications and experience.
To read more about specific aspects of our corporate practice, please click the links below.
Capital Markets and Lending
Restructuring
Mergers & Acquisitions
General Corporate Practice
Insurance / Reinsurance
Capital Markets and Lending
We have acted as counsel to the financing sources in many major acquisitions featuring significant debt financings, including eight of the ten largest buyouts in U.S. history. Cahill is widely recognized for its participation in capital markets transactions, particularly with respect to mergers and acquisitions, leveraged (i.e. below investment grade) loans, high yield debt and other debt securities, debt exchange offers, IPOs and other equity related financings. Our practice is recommended by Chambers USA, Chambers Global, IFLR 1000 and The Legal 500.
Cahill is the most active law firm in the nation advising U.S. high yield underwriters by volume and deal count, and in 2009 was ranked first among law firms for the seventh consecutive year with nearly $42 billion in aggregate gross proceeds. Cahill also ranked among the most active law firms in 2009 advising U.S. underwriters of corporate debt and investment grade debt (Bloomberg Finance, L.P., 2010).
On the loan side, Cahill ranked second in advising lead arrangers by volume of leveraged loan transactions and lead arrangers by volume in M&A loan transactions (Reuters Loan Pricing Corporation, 2010).
Leading commercial and investment banking firms trust our experience and ability to deliver solutions-focused advice and deal execution, especially when the factual and legal issues are challenging and/or the financing structures are complex. That is one reason why we have long and close working relationships with banking firms such as Bank of America Merrill Lynch, Barclays, CIBC, Citigroup, Credit Suisse, Deutsche Bank, JPMorgan, UBS and Wachovia. We are also designated underwriters' counsel for dozens of companies.
On the equity side, in 2009 Cahill ranked among the most active law firms advising U.S. underwriters of IPOs, equity offerings and equity-linked transactions (Bloomberg Finance, L.P., 2010). The firm regularly serves as underwriters' counsel such as in the recent IPOs by DynaVox and RailAmerica. We have a long track record as issuer's counsel in IPOs and other equity offerings for companies such as Validus Holdings, TriMas Corp. and Arch Capital. We represented Forbes in transactions related to the sale of equity interests to Elevation Partners.
We also represent mezzanine lenders such as GoldenTree Asset Management, Apollo Investment Corp., Falcon Mezzanine Partners and Audax Mezzanine Fund, L.P. and private equity investors such as Trimaran Capital Partners and Ares Corporate Opportunities Fund, L.P. in leveraged and strategic transactions.
Restructuring
Our finance practice includes debt restructuring work such as the recent out-of-court exchange offers and cash tender offers by GMAC and its subsidiaries for $22.2 billion of its debt and the exchange offers and tender offers by GMAC's subsidiary Residential Capital for more than $14 billion of its debt (among the largest exchange offers to date); as well as exchange offers by Harrah's for approximately $2.2 billion of its debt and the out-of-court restructuring of American Media Inc. (publisher of the National Enquirer, Shape and Star magazines).
In addition, we act as counsel to various clients in connection with in court restructuring and bankruptcy work, including advising the independent directors of Freddie Mac in the Treasury's formal rescue plan to take control of Fannie Mae and Freddie Mac and to replace the companies' chief executives; in the consummation of reorganization plans by BHS&B Holdings LLP (d/b/a Steve & Barry's), Foamex, and Anchor Glass Container Corporation. Our bankruptcy attorneys have extensive experience in a range of activities such as DIP financings, sales of assets in bankruptcy and acquisitions of control through purchases of debt claims, on behalf of financial investors, lenders and debtors.
Mergers & Acquisitions
We understand how important it is for companies involved in mergers, acquisitions or joint ventures, often worth billions to the participants, to move efficiently towards closing with a minimum of surprise or delay. We have substantial experience in M&A transactions and recently represented Coca-Cola Enterprises Inc. in its pending acquisition by The Coca-Cola Company of CCE's North American Business and in the split off of its European Business; Validus Holdings Ltd. in its merger with IPC Holdings, Ltd.; Broadridge Financial in the sale of its correspondent clearing business to Penson Worldwide, Inc.; WebMD in its merger with HLTH Corporation; Centerplate Inc. in its merger with affiliates of Kohlberg; ICON plc in its acquisition of Healthcare Discoveries and an investor group led by Peter M. Brant in its acquisition of SP Newsprint and Energy Partners Ltd. in its defense against the unsolicited tender offer by Woodside Petroleum. Our client base in the M&A area is very diversified ranging from the clients listed above to 1-800-Flowers, Elan Corporation, General Electric, XL Capital, XOMA Corporation and White Birch Paper Company. We create deal structures for joint ventures, consult in the development of distribution, marketing and pricing arrangements and handle critical negotiations such as those conducted on behalf of NBC Sports for the broadcast rights to ten different Olympic Games.
General Corporate Practice
We serve as outside corporate counsel advising public companies in connection with the full range of laws, rules and regulations administered by the Securities and Exchange Commission, the New York Stock Exchange, the NASDAQ Stock Market and other regulatory and self-regulatory bodies, as well as disclosure and crisis management challenges. We also serve as outside corporate counsel to private companies in a range of corporate matters for clients such as Forbes Media LLC, SP Newsprint Co., LLC, Springs Industries, White Birch Paper Company and William Lyon Homes.
Insurance / Reinsurance
Our practice is prominent in the insurance area. Our insurance clients' concerns include formation of insurance and reinsurance entities, structuring and negotiating complex financial transactions, and structuring and drafting insurance products and policies. In the last year alone, Cahill lawyers have helped to raise billions of dollars to finance acquisitions, to replenish statutory surplus and to provide general working capital for clients such as J.P. Morgan Securities, AIG, Integro Ltd., Validus Reinsurance, International Catastrophe Insurance Managers, and XL Capital. Our lawyers have extensive experience in the formation and capitalization of new insurance ventures. We have acted and continue to act as chief legal counsel in the formation of new offshore companies, including ACE, XL Capital, Mid-Ocean and Arch, which were all formed to address capacity shortages and required innovative structuring in condensed time frames. We represented Ironshore, Inc., a Bermuda-based global insurance company formed in response to the crisis conditions in the U.S. property catastrophe insurance markets, in its formation and initial capitalization of over $1 billion.
