Judith E. Reich

Finance Transactions

Judy has negotiated nearly every type of credit and debt facility, including:

• Syndicated loan transactions
• Multicurrency credit facilities
• Asset-based loans
• Leverage recap facilities
• Mezzanine financing
• Debtor-in-possession loans

Judy has done extensive work for public and private companies, private equity investors, and banks involved in corporate workouts and restructurings. She has facilitated acquisition financing for large retailers, private equity firms and technology companies, supported multimillion-dollar recapitalization strategies for borrowers (including private equity, health care, technology and construction companies) and structured subscription facilities for private equity funds and liquidity facilities for investment funds.

Workouts and Restructurings

Judy represents secured and unsecured lenders, trade creditors and debtors in out-of-court workouts and restructurings.

Representative Experience

Representation of Borrowers

• Represented Urban Outfitters, Inc. and its subsidiaries in a $400 million asset-based revolving credit facility with a $150 million accordion with JPMorgan Chase as administrative agent
• Represented a manufacturer of home improvement products in $24 million credit facilities to finance an add-on acquisition
• Represented a private equity fund in $27 million term loan and $4 million revolving credit facility in connection with acquisition of portfolio company that markets and administers extended automobile service warranties
• Represented a private equity fund in $15 million revolving credit facility and $27 million term loan facility to acquire global manufacturer with subsidiaries in China and Thailand
• Represented EPAM Systems, Inc. in $100 million syndicated revolving credit facility with PNC Bank as administrative agent
• Represented a private equity firm as borrower in a $49 million senior facility and a $15.5 million mezzanine facility for acquisition financing of a new portfolio company
• Represented a portfolio company of a private equity firm as borrower in $120 million dividend recapitalization
• Represented a construction and management solutions company, as borrower, in a $50 million recapitalization
• Represented the trusts of an investment bank in liquidity facilities
• Represented a private equity firm in its liquidity facility

Banking

• Represented the Agent in credit facilities to a company that provides behavioral health services to residents of skilled nursing facilities and assisted living facilities
• Represented the Agent in a $96 million senior secured credit facility to recapitalize insurance brokerage companies
• Represented the Agent in a $90 million senior secured credit facility to finance a leverage recapitalization
• Represented a lender in a debtor-in-possession facility
• Represented the Agent in a $72.2 million senior secured credit facility to finance the acquisition of a logistics staffing company
• Represented the Agent in a $70 million senior secured credit facilities to the nation’s leading retailer of fireworks
• Represented the Agent in a $45 million senior secured credit facility (including revolver with a borrowing base) to private-equity backed provider of outsourced rehab programs for hospitals, SNF/LTC/Subacute, CCRC, Assisted and Independent Living facilities
• Represented the Agent in an $80 million credit facilities to recapitalize a design, engineering and tool building company serving the OEM automotive and heavy truck industries
• Represented the Agent in a $400 million credit facility for a multinational technology company
• Represented the Agent in a proposed $300 million staple financing transaction
• Represented the Agent in a $170 million secured financing for an infrastructure company
• Represented the Agent in a $175 million dividend recap for a private equity portfolio company with a $25 million accordion
• Represented the Agent in $340 million of senior secured including multi-currency availability for international manufacturer
• Represented the Agent in $110 million senior secured credit facilities to finance acquisition of private equity portfolio company; transaction also involved $30 million in mezzanine financing and negotiation of intercreditor agreement
• Represented the Agent in a $1B facility for a chemical company
• Represented the Agent in a $145 million secured financing for a regional cable company
• Represented the Agent in a $134 million secured financing for a regional cable company

Mezzanine Lending

• Represented an SBIC in a loan to a medical supply company
• Represented a mezzanine lender in the mezzanine loan to, and subsequent workout of, a company in the sports entertainment industry
• Represented a mezzanine lender in connection with s mezzanine loan and the subsequent conversion to equity