Martin LLP is a trusted advisor to regional and national clients on corporate, litigation, and real estate matters. As a sophisticated law practice, we are particularly valued for our relationships with growth companies and their private equity and venture capital investors. With a proactive approach, we partner with our clients, anticipating their needs and providing practical advice focused on maximizing the value of their business opportunities.


Among its financing activities in the first quarter of 2018, Martin LLP represented the lenders or borrowers in the following transactions: 
  • A privately-owned New York-based media company in obtaining an $85 million term loan facility from a syndicate of direct lenders.  The term loan was used to refinance existing indebtedness.
  • Modern Bank and certain other lenders in providing an $11.3 million unitranche term loan and revolving credit facility to a Florida company involved in the computer equipment supply business.  The proceeds were used to partially fund the acquisition of the borrower.     
  • A heavy civil infrastructure construction company in a $25 million credit facility provided by a national bank, consisting of a $5 million term loan and a $20 million revolving line of credit.
April 2018
ImpactoftaxreformComptroller of the Currency Indicates That It Will Not Enforce Leveraged Lending Guidance
Martin LLP  
Joseph Otting, the head of the Office of the Comptroller of the Currency, announced on February 27, 2018 that banks no longer need to adhere to the Leveraged Lending Guidance when providing leveraged financing. Mr. Otting said that "Institutions should have the right to do the leveraged lending they want, as long as they have the capital and personnel to manage that and it doesn't impact their safety and soundness."

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For a secured lender, cash is often the most critical piece of collateral. Borrowers generally keep cash in deposit accounts at a bank. Thus, a lender will want to obtain a perfected security interest in those deposit accounts in order to have a perfected security interest in that cash.

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LIBORARRC Releases Second Report on Transition from LIBOR 
The Alternative Reference Rates Committee (ARRC) issued a new report on March 5, 2018 summarizing the choice of the Secured Overnight Financing Rate (SOFR) as its recommended alternative to U.S. dollar LIBOR and enhancing the ARRC's Paced Transition Plan seeking to promote the use of SOFR on a voluntary basis. SOFR is a fully transaction based rate that will have the widest coverage of any Treasury repo rate available. It will be published on a daily basis by the Federal Reserve Bank of New York beginning April 3, 2018.    
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DEBTPreparing for An Initial Debt Financing
Martin LLP  
You are the chief financial officer of Greater Growth Company, a privately-owned middle market company with several subsidiaries (taken together, "GGC") that has been growing rapidly over the past few years. You believe that GGC needs additional capital to make the necessary investments in working capital, capital expenditures for plant and equipment, and acquisitions to get to the next stage of its development. You have studied the various options for capital raising and believe that GGC should obtain third party debt financing provided by a bank or direct lender to support its growth. 
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