Banking & Finance

Cahill’s Banking & Finance practice is among the top-ranked in the world. Cahill’s lawyers advise leading commercial and investment banks in complex financing transactions while also counseling mezzanine lenders and private equity investors in leveraged and strategic transactions, earning Band One recognition from Chambers USA in Banking & Finance and a Tier One ranking from The Legal 500 US in the Commercial Lending.

Our Banking & Finance practice operates across all major industries, including business services, e-commerce, energy, entertainment, financial services, food & grocery, healthcare, infrastructure, manufacturing, oil & gas, pharmaceuticals, real estate, telecommunications and travel.

Clients rely on Cahill to deliver solutions-focused advice and deal execution in some of the most challenging transactions in the market today across:

  • Leveraged finance
  • Investment grade finance
  • Asset-based lending
  • Private debt & direct lending
  • Middle market lending

Our transactions further span acquisition financings, leveraged buyouts, going-private transactions, recapitalizations, project financings, bridge lending and loan commitments. Cahill’s Capital Markets and Banking practices are highly integrated, making it seamless for companies and financial institutions executing multiple simultaneous financings.

Leveraged Lending

Widely recognized as the leading law firm in leveraged finance, Cahill has served the leveraged lending market since its inception and represented the financing sources in nine of the ten largest U.S.-based leveraged buyouts completed to date. Today, the firm regularly advises on twice the deal volume of its nearest competitor and the firm is often the first call for banks seeking leveraged transactions. Cahill has long and close working relationships with many of the world’s most prominent international banking institutions, regularly advising lenders such as Credit Suisse, Citigroup, Deutsche Bank, JP Morgan Securities and Morgan Stanley, among others.

In the U.S. loan market, Cahill consistently ranks first in manager representation in the industry league tables:

  • Cahill has been the top ranked legal adviser to U.S. lead arrangers of leveraged loans since 2010, as measured by Refinitiv Loan Connector. In 2020, Cahill led this category once again.
  • Cahill ranked first in 2020 as legal adviser to bookrunners in the overall loans transactions category by volume, and ranked first as legal adviser to lead arrangers in M&A loan transactions by deal count by Refinitiv Loan Connector.
  • Debtwire ranked Cahill first in 2020 for legal counsel to North American lead banks by volume.
  • Cahill secured the #1 spot across four other Debtwire league tables by volume for legal counsel to lead banks of North American leveraged loans. Categories included M&A leveraged loans, buyout leveraged loans, institutional loans, M&A institutional leveraged loans, and buyout institutional loans. 

London Leveraged Finance and English Law Lending

Cahill has recently expanded its finance offering in London with the addition of an English law finance practice and additional New York law finance capabilities. The London finance practice currently comprises a six-partner English law loan practice and New York law loans and high yield practice, together with a team of experienced associates capable of working on European and cross border transactions across various capital structures. 

Cahill also garners recognition in the international leveraged lending league tables. Debtwire named Cahill the #2 legal adviser to lead banks for UKI leveraged loans for 2020 and a top 5 legal adviser to lead banks and lenders in Western Europe for leveraged loans. 

Investment Grade Lending

Cahill has extensive experience advising clients in significant investment grade lending matters. We advise on a broad range of investment grade lending transactions, including acquisition financings, bridge financings, syndicated lending, working capital and backstop facilities, project financings, debt refinancings, recapitalizations and restructurings.

Asset-Based Lending

Cahill advises financial institutions across the full range of asset-based lending (ABL) matters including traditional commercial and corporate finance transactions, leveraged acquisitions and debtor in possession financings. Our team advises on complex cross-border and other international lending ABL structures and also counsels private equity sponsors as they have increasingly introduced ABLs into their committed financing structures. Cahill’s partners, who often work across multiple practice areas, are especially well equipped to analyze client’s different debt instruments and how they interact, protecting clients through their most complex multi-layered debt transactions, which may involve side-by-side ABLs, first/second lien term loans and/or secured and unsecured bonds.

Cahill lawyers active in ABL have experience in a variety of industries including communications, gaming, retail, energy, manufacturing, media, publishing and internet technology. Our partners are also frequent speakers in this area, including at Secured Finance Network’s annual Asset-Based Capital Conference.

Private Debt & Direct Lending

In the rapidly developing direct lending market, Cahill represents private credit and direct lending providers on financing transactions while also advising on the regulatory, tax and restructuring aspects of each transaction. Our multidisciplinary, cross-practice team advises on all stages of the transaction cycle and includes assets classes such as senior, stretched-senior, unitranche or junior, second lien, mezzanine and PIK loans/notes and preferred equity investments. We also provide counsel on special situations lending and rescue financing.

Middle Market Lending

Cahill’s position as the leading adviser to banks in leveraged lending produces tangible benefits to clients in middle market transactions, including middle market deals for top-tier sponsors, middle market deals for companies on a path to a larger loan market, and traditional middle market transactions.

While we are best known for our work as trusted advisers to the world’s largest banks on their top-tier transactions, those cutting-edge deals are built upon our deep understanding of credit fundamentals and traditional deal terms – terms often found in the middle market. Cahill’s leading market knowledge of emerging trends allows our lawyers the dexterity to match the right deal technology and deal terms with each client’s particular transaction needs, regardless of deal size.

Q1 2021 U.S. Legal Advisers to Lead Arrangers in Leveraged Loans by Volume ($B)

Q1 2021 North American High-Yield Manager Advisers by Volume ($B)