Rimon
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Our partners have counseled major multinational, national, regional, and local banks and financial institutions in the United States and around the world on a wide variety of legal issues. Their work includes negotiating, documenting, and closing finance and lending arrangements, representing underwriters or placement agents in capital markets transactions, and providing regulatory and compliance advice. Our team has also regularly represented banks and other financial institutions in connection with a wide variety of other legal issues, including corporate governance, privacy and data security, corporate transactions, dispute resolution, and other concerns.

Rimon’s nimble, international practice allows us to offer our clients efficient, seamless legal assistance wherever their business takes them.

Finance and Lending

Our partners have decades of experience representing banks spanning from major multinationals to local institutions in connection with financing and lending arrangements with a wide variety of borrowers across the globe.  Our work includes:

  • Acquisition financing
  • Middle market loans, asset-based lending, and syndications
  • Commercial real estate and resort financing
  • Aircraft finance and equipment leasing
  • Bilateral/multilateral development financing (both debt and equity) for both domestic and international projects
  • Real estate development and construction financing
  • Cross-border real estate financing transactions including hotel and resort development
  • Project finance sponsors and investors
  • Liquidity and cash management arrangements
  • Cross-border based financings including with Europe and the U.K.
  • International and emerging market transactions
  • Debtor-in-possession financing, restructurings, insolvencies, receiverships, liquidations, and other debt reorganization arrangements
  • ESOP loans
  • High yield market transactions and international trade finance
  • Letters of credit arrangements
  • Subordinated debt and mezzanine financing
  • Tax-exempt financing
  • Telecommunications finance
  • Growth equity financing
  • Working capital financing
  • Export credit guaranteed financing
  • Representation of Deutsche Bank AG, London Branch, as agent, in connection with a series of debt facilities for The Milestone Aviation Group Limited totaling $400 million, including a multiple drawing term loan facility secured by helicopters and related leases and certain other assets, including a 7-lender syndicated term facility, generally regarded as the first syndicated portfolio financing for a helicopter leasing company.
  • Representation of a money-center bank in the negotiation of an $800 million unsecured credit facility to a national accounting firm consisting of a $500 million five-year revolving credit, swing line and letter of credit facility and a $300 million, five-year term loan facility.
  • Acting for one of the largest MENA regional banks on $900 million syndicated credit facility.
  • Advised a Chinese state-owned bank on California collateral arrangements and financing matters in project for redevelopment of San Francisco’s Treasure Island, Candlestick Point and Hunter’s Point Naval Shipyard.
  • Representation of the administrative agent and lead arrangers in connection with a $1.1 billion credit facility for Kinder Morgan Energy Partners, L.P.
  • Representation of a prominent U.S. national bank on equity investment, in conjunction with a venture loan facility, in a broadband wireless access company.
  • Representation of Goldman Sachs in connection with securities law matters with respect to over $200 million in loans to several high-profile technology entrepreneurs, with the loans secured by privately-held securities.
  • Representation of BBVA Bancomer in connection with its lending guaranty of a $125 million loan syndicate in Arizona trusts.
  • Representation of a major Canadian bank in connection with its extension of loans to fund film productions, ranging from single productions to a combination production and corporate line of credit for an international production company producing films in U.S. and Canada with a distribution facility in the U.K. ​
  • Acted for a major MENA regional bank on the financing for the acquisition of a minority interest in a Malaysian financial institution.
  • Advised a Japanese bank on California real property collateral and guaranty arrangements securing a Japanese Yen loan facility to a Japanese electronics company.
  • Representation of HSBC, Liberty Global, and other equity investors in the $1.2 billion financing of O3b Network’s Ka-band satellite network which was named the Africa Telecoms Deal of the Year by Project Finance International and the ECA-Backed Financing Deal of the Year by Trade Finance Magazine.
  • Representation of a New York bank in a $225 million senior unsecured credit facility to a major manufacturer and distributor of irrigation equipment and power transmission towers, comprised of (i) a senior unsecured revolving credit facility in an amount up to $150 million, with a $10 million sublimit for swing line loans, a $50 million sublimit for standby and trade letters of credit and a $50 million sublimit for loans in Euros and (ii) a $75 million senior unsecured five-year term loan facility.
  • Advised a Chinese bank, as security agent, on U.S. collateral arrangements for a syndicated secured credit facility to finance several equipment leasing facilities by Hong Kong-based equipment finance companies.
  • Representation of a U.S. bank in connection with a construction loan for financing of a Mexican manufacturing facilities secured by Mexican Guaranteed Trust (fideicomiso).
  • Representation of Deutsche Bank, Morgan Stanley, JP Morgan, and China Construction Bank International in numerous pre-IPO financings for red chip Chinese companies in the mining, infrastructure, solar energy, retail and other industries.
  • Representation of a U.S. subsidiary of a prominent European bank on restructurings of several synthetic lease facilities.
  • Representation of a European bank in providing $180 million in senior secured working capital financing to an aluminum manufacturer and refiner. Representation included several restructurings of this facility in response to adverse conditions in the aluminum industry and problems particular to this borrower.
  • Representation of a major national bank in a $178.5 million senior unsecured credit facility comprised of (i) a $59.58 million three-year revolving credit facility with a $15 million sublimit for trade letters of credit, a $6.5 million sublimit for standby letters of credit, and a $7 million sublimit for swing line loans and (ii) a $118.9 million 364-day revolving credit facility.
  • Representation of a New York bank in a $120 million senior secured credit facility to a major manufacturer and distributor of costumes, comprised of (i) a $105 million senior secured revolving credit facility with a $20 million sublimit for trade letters of credit, a $2.5 million sublimit for standby letters of credit, and a $7 million sublimit for swing line loans and (ii) a $15 million senior secured four-year term loan facility.
  • Representation of a New York bank as letter of credit issuer and lender, in a $110 million secured revolving credit, term loan, letter of credit and bankers’ acceptance facility comprised of a (i) $60 million term A facility, (ii) $30 million term B facility and (iii) a $20 million revolving credit facility with a $10 million sublimit for standby and trade letters of credit.
  • Representation of two European banks in issuing standby letters of credit in an aggregate stated amount of $50 million to support the obligations of the account party under a settlement implementation agreement.
  • Representation of a national bank in a $22.2 million secured working capital, equipment financing and acquisition facility comprised of (i) a $16 million revolving credit facility with a $1 million sublimit for standby letters of credit, (ii) $1.2 million convertible revolving credit facility and (iii) $5 million term loan.
  • Representation of a New York bank in its credit relationship with two families of private equity funds, including multiple contemporaneous credit facilities, letters of credit in support of unit investment trusts and uncommitted lines of credit.
  • Representation of a European bank, as agent, lender, and letter of credit issuer, in the secured financing of a project to construct and operate a plant for the manufacture of wallboard products. The facility included a term loan, a standby loan, a construction loan and a standby letter of credit facility.
  • Representation of a European bank in the purchase by its New York branch of the entire U.S. loan portfolio of another European bank. The portfolio consisted of syndicated loans, single-bank loans and participations.
  • Representation of Toronto Dominion Bank and other lenders in connection with Ex-Im Bank guaranteed loan facilities for the purchase of Boeing aircraft.
  • Representation of the Huntington National Bank, as administrative agent, in connection with a $1 billion revolving loan facility secured by helicopters and related leases in multiple jurisdictions and certain other assets for The Milestone Aviation Group Limited, financed by a syndicate of 16 lenders.

Capital Market Transactions

Our partners have represented major banks and financial services firms as underwriters and placement agents in connection with major public offerings.

  • Representation of Goldman Sachs, Merrill Lynch, Morgan Stanley, Credit Suisse and other underwriters in public offerings.
  • Representation of the underwriters of a $1.5 billion public offering of debentures of a NYSE-listed railroad company.
  • Representation of Wells Fargo Securities as lead underwriter in an underwritten offering of common stock by Avid Bioservices, Inc.
  • Representation of J.P. Morgan Securities as underwriter in ARIAD Pharmaceuticals, Inc.’s $323 million public offering of common stock for newly FDA approved oncology therapy.
  • Representation of UBS Securities as underwriters in the IPO of a molecular device corporation.
  • Representation of Lazard Capital Markets LLC as underwriters for Globalstar Inc.’s $38 million private placement of convertible senior unsecured notes and warrants to purchase common stock.
  • Representation of Barclays Capital, Inc. as underwriters for Halozyme Therapeutics, Inc.’s $72 million public offering of common stock.
  • Representation of Needham & Company, LLC, as underwriter’s counsel, for Nova Measuring Instruments Ltd.’s (Israel domestic) $18.4 million CMPO offering of ordinary shares.
  • Representation of Cowen Inc. as the exclusive Placement Agent for The Wet Seal, Inc.’s $27 million follow-on Regulation D Private Placement of public company securities.
  • Representation of Janney Montgomery Scott, as underwriter’s counsel, for d’ELia’s Inc.’s $15.8 million public offering of common stock, and a concurrent private placement of $21.8 million in principal amount of 7.25% convertible notes.
  • Representation of Lazard Capital Markets LLC, Oppenheimer & Co. Inc., JMP Securities LLC and Maxim Group LLC, as underwriter’s counsel, for Organovo Holdings, Inc.’s $47 million public offering of common stock with over-allotment.
  • Representation of Needham & Company, LLC and D.A. Davidson & Co. as underwriter’s counsel, for Radisys Corporation’s $23 million follow-on public offering of common stock.
  • Representation of Lazard Capital Markets LLC, Cowen and Company LLC, JMP Securities LLC, Wedbush PacGrow Life Sciences and Canaccord Genuity, as underwriter’s counsel, for Sarepta Therapeutics, Inc.’s $125 million public offering of common stock.
  • Representation of Lazard Capital Markets LLC, as placement agent’s counsel, for Evergreen Energy Inc.’s at-the-market program to sell up to $10 million in common stock.
  • Representation of Lazard Capital Markets LLC, as underwriter’s counsel, for Harvest Natural Resources Inc.’s $32 million registered direct offering of senior convertible notes.

Regulatory, Compliance, and Data Security

Our team understands the rapidly evolving regulations related to securities, fintech, blockchain and cryptocurrencies, data privacy and cybersecurity, anti-money laundering, and other regulatory and compliance concerns. We counsel banks, non-bank lenders, insurance companies, cryptocurrency exchanges, and other financial services clients across a wide range of matters, including best practices, transaction due diligence, internal investigations, regulatory enforcement actions, and litigation.

Our work includes:

  • Counseling and litigation on federal and state consumer and commercial law and resolving compliance issues including regulatory enforcement matters, including:
    • Privacy under international and U.S. federal and state law, including advice on GDPR, Gramm-Leach-Bliley Act privacy, FCRA, and state privacy law
    • Development of financial products and services — both technology-based, fintech and traditional, retail products
    • Data security, IT systems practices and procedures and state data breach law
    • Consumer and commercial credit law (e.g. truth-in-lending)
    • State licensing of commercial and consumer finance companies, debt collection companies and trust companies
    • Chartering of national and state banks and responding to cease-and-desist orders, letters of understanding and other enforcement actions with prudential regulators and the CFPB
    • Residential mortgage documentation and HUD and Fannie Mae handbooks and policies
    • Fair lending, including litigation and regulatory guidance under the FHA and ECOA
    • Vendor contracts and policies and procedures governing third-party contracts
  • Records and information governance, including record retention policies and procedures, privacy assessments and compliance programs, and data security programs
  • eDiscovery and data hold requests
  • Regulation of securities lending under the Exchange Act and Regulation U
  • Loans to insiders and affiliated companies, including FRB Regulations O and W
  • Representation of Boston Investment Bank in the formation of two multi-national multi-tiered master-feeder hedge fund structures in compliance with the Investment Advisers Act, Investment Company Act, Securities Act, Securities Exchange Act, CFTC rules and other regulatory requirements.
  • Representation of a Chinese bank in connection with a money laundering and economic sanctions investigation by the United States Department of Justice.
  • Served as designated technology counsel for the parent corporation of a multi-billion-dollar bank to oversee forensic extraction and preservation of 200 terabytes of data from a legacy computer system on a litigation involving one of the largest U.S. bank failures.
  • Representation of several banks in relation to regulatory issues associated with implementing Paydirekt, a payment technology provider.
  • Representation of senior executives of an Italian bank in criminal investigations by the United States Department of Justice for money laundering and economic sanctions violations. Obtained favorable result without criminal charges being filed.
  • Representation of a U.S. investment bank on the German banking law regulatory aspects regarding its market entry in Germany/continental Europe.
  • Representation of a major Russian commercial bank in negotiations with various federal agencies regarding the proposed sale of a land plot located in London, UK, and owned by the Russian government.
  • Represented of a global financial services firm focused on investment banking advisory services in connection with securities regulatory and compliance issues.
  • Representation of the board of directors in an internal investigation of a financial institution in China.
  • Advised Berkshire Bank in connection with Volcker Rule compliance.
  • Advised the Illinois Bankers Association in connection with commercial and business loan regulations.

Corporate Transactions, Dispute Resolution, and Outside General Counsel

In addition to our representation of major banks in their lending and underwriting activities and regulatory compliance, our attorneys have extensive experience advising banking and financial services clients in connection with the full spectrum of their legal needs, including day-to-day operations, digital transformation, their own securities offerings and other corporate transactions, intellectual property issues, and dispute resolution.

Operations and Outside General Counsel

  • Act as outside general counsel to a boutique investment bank in the renewable energy space. We advise the client in connection with all internal and external corporate issues, assisted them with their expansion into Europe and the U.K., and help them resolve disputes.
  • Representation of China International Capital Corporation Limited in connection with the establishment of the first joint-venture investment bank between China Construction Bank and Morgan Stanley.
  • Representation of Sierra Asia Partners in connection with the reorganization of its U.S. and China operations.
  • Representation of a firm that provides investment banking services to cannabis companies in connection with contract, general transactional, and litigation advice.
  • Leading a variety of Tier 1/Tier 2 capital raises for regional MENA banks.
  • Representation of a global financial services firm focused on investment banking advisory services in connection with contract negotiation.

Securities

  • Representation of National Australia Bank on its $3 billion private placement.
  • Representation of Suncorp-Metway in connection with a Rule 144A investment-grade bond offering.
  • Representation of a Nasdaq-listed regional bank in connection with a $140 million follow-on offering.
  • Representation of a prominent U.S. investment bank as lead initial purchaser on issuance by a U.S. networking technology company of 144A convertible subordinated notes.
  • Represented Bendigo and Adealide Bank in relation to their $250 million placement.

Dispute Resolution

  • Representation of one of the largest Russian banks in a $75 million LCIA arbitration against a Central Asian bank in respect of guarantee obligations.
  • Representation of JPMorgan Chase in patent infringement litigation involving banking tokenization technologies.
  • Acted as lead technical counsel to JPMorgan Chase in defense of patent infringement claims brought by Maxim in connection with four patents that allegedly relate to smartphone applications for mobile banking and secure financial transactions.
  • Representation of an investment banking firm in a fee dispute with a client following our client’s sale of its client’s company.
  • Representation of a U.K. bank in complex bankruptcy proceedings in separate states of a parent and former subsidiary involving the bankrupt parent’s conversion to equity of the bank’s security at the bankrupt subsidiary level. Worked with the bank in developing a litigation strategy and supervision and assistance of litigation counsel in obtaining the rescission of the conversion at the parent level resulting in restoration of the bank’s secured position and giving it the leverage to compel the subsidiary to settle with the bank. Prepared and negotiated a settlement agreement, negotiated with the unsecured creditors to attempt to gain their acceptance, persuaded the subsidiary to push through the settlement over the objection of the unsecured creditors and ultimately recovered for the bank payment in full of its secured claim and partial payment of an unsecured claim which would otherwise have proven worthless.

Investments and Mergers and Acquisitions

  • Representation of China Development Bank in offshore investment projects.
  • Representation of the owners of Investsberbank (Russia) in a $400+ million sale of the bank to OTP Bank (Hungary).
  • Representation of German bank, DSGV, in connection with the sale of HSH Nordbank AG.
  • Represented bank subsidiary in connection with its acquisition of a portfolio of over $100 million of equipment leases, installment sales contracts and other equipment financings.
  • Represented UniCredit A.G., a large publicly-traded Italian bank, in connection with its investment into a large U.S.-based private equity fund.
  • Representation of a major Russian investment bank in connection with the innovative acquisition of a controlling interest in a large Russian industrial holding company.
  • Represented a prominent U.S. national bank as a creditor in insolvency proceedings of an e-commerce software company.
  • Advised a leading Russian commercial bank in the complex financing of the sale of real property mortgaged to the bank.

Rimon Attorneys With Expertise in Banking and Financial Services Include: