Departments: Corporate: Financing

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Tom Draper, Practice Group Co-Head
University of Texas School of Law, 1979
800-951-4888 x7430
thomas.draper@ropesgray.com

Byung Choi, Practice Group Co-Head
Boston University School of Law, 1995
800-951-4888 x7277
byung.choi@ropesgray.com

How big is our practice group?
We have 46 lawyers (18 partners, 80 associates) in our Boston, New York, San Francisco, Washington DC, Chicago, Silicon Valley, Hong Kong and London offices.

Melissa Moran (Suffolk University Law School '05) joined Ropes & Gray in 2005 and has worked on a number of significant matters as a member of the Finance group

What do we do?
We have a globally recognized finance practice and are one of the exclusive premier international firms representing private equity sponsors in leveraged buyouts requiring multi-billion dollar financings. Our group represents private equity funds, companies, banks and institutional investors in a broad range of financing transactions. We help our clients get money to finance acquisitions and other business needs by negotiating the structure and terms of the financing, such as credit facilities and high yield bonds, and where the financing fits in the corporate structure. Acquisition finance is one of our specialties and we have worked on many high profile deals. When the economy is not doing well, we also help clients renegotiate the financing terms or restructure their debt.

What have we done lately?

Represented TPG Capital in structuring and obtaining $1.85 billion of aggregate financing for the acquisition of J. Crew, a leading nationally recognized apparel and accessories retailer. This $3.0 Billion LBO of J. Crew closed in March 2011. For a description of the associate’s role in this transaction, click here.
Represented Dunkin’ Brands Inc., a portfolio company of Bain Capital, The Carlyle Group and Thomas H. Lee Partners in structuring and obtaining $1.975 billion of aggregate financing to refinance its “whole business securitization” and fund a shareholder dividend. The complexity of unwinding the securitization required the first ever funding of jumbo secured credit facilities into escrow to continue the Dunkin’ legacy of pioneering achievements. The $2.5 Billion LBO of Dunkin’ in 2006 was both the first LBO to rely exclusively on a securitization financing and the first securitization of a company’s “whole business” on a multi- billion dollar scale.
Represented Green Mountain Coffee Roasters in obtaining a $411 Million senior secured credit facility to finance a recapitalization and acquisition, as well as pending commitments to expand the facility to $1.35 Billion in connection with a currently pending potential acquisition.
Represented TJX Corporation in obtaining a $500 Million three year revolving credit facility. TJX Corporation is a global off- price value retailing company operating in the United States, Canada, and Europe and parent to TJMaxx, HomeGoods, Marshalls, TKMaxx, and HomeSense.
Represented Liberty Global in the €3.5 Billion LBO of Unitymedia. We advised on the structuring and issuing an aggregate of €2.7 billion ($4.0 billion equivalent) of senior secured and senior notes in connection with its acquisition of Unitymedia, Germany’s second largest communications services provider. The secured notes was the largest offering in European high yield history, largest high yield deal in the cable industry, second largest high yield deal ever completed in Europe and second largest high yield offering completed globally in 2009. Liberty Global is the leading international cable operator offering advanced video, telephone, and broadband internet services.
Represented Bain Capital and The Blackstone Group in structuring and obtaining financing, including secured credit facilities and “jumbo” mezzanine notes, for the multi-billion dollar acquisition of The Weather Channel Companies by a consortium comprised of Bain Capital, Blackstone and NBC Universal. For a description of the associate's role in this transaction, click here.
Represented CIT Business Credit, the first out lender, in a $115 Million loan providing a portion of the financing of the leveraged buyout of The Paradies Shops, a hotel and airport store operator.
Represented TPG Capital and the CPP Investment Board in structuring and obtaining $3.275 billion of aggregate financing for the acquisition of IMS Health Inc., a pharmaceutical intelligence company, providing information and consulting services to the healthcare market, this $5.2 billion LBO is one of the largest signed in 2009.