Maximilian Ferullo

/My focus

Commercial Finance and Restructuring

I advise sponsors, borrowers, arrangers, agents, and lenders on complex domestic and cross-border finance transactions, including leveraged and acquisition financings across secured and unsecured, single-lender and syndicated, and cash flow and asset-based facilities. Leveraging a hybrid perspective spanning both restructuring and finance, I also focus on creditors’ rights, bankruptcy, and distress-related matters, advising publicly traded and private equity sponsored borrowers, commercial banks, private credit funds, and other secured and unsecured creditors in a variety of workouts and debt restructurings both out-of-court and in Chapter 11.

/Representative experience

Some engagements prior to joining Nixon Peabody are included.

• Representing a large US-based energy provider on its $75mm asset-based revolving credit facility
• Representing a large US commercial bank as arranger, administrative agent, and lender on the debt refinancing and corporate restructuring of a leading manufacturer of automotive and industrial metal components through entry into senior secured revolving credit and term loan facilities totaling approximately $164mm
• Representing a publicly traded US based multinational manufacturer of scientific instruments with respect to (i) the issuance of CHF 431mm in senior notes through multiple private placement transactions, (ii) a $900mm revolving credit facility, and (iii) multiple delayed draw term loan facilities totaling CHF 450mm
• Representing a publicly traded Irish multinational manufacturer of global building materials on its syndicated $300mm term loan facility
• Representing a private equity sponsored US-based food products and services portfolio company on its $20mm asset-based revolving credit facility
• Representing a private equity sponsored US-based food products and services portfolio company on its senior secured revolving credit and term loan facilities totaling $75mm
• Representing a consortium of eleven banks as coordinating lead arrangers and lenders on the $1.88b financing of a Canadian pension fund’s acquisition of a large US-based container terminal operator
• Representing The Korea Development Bank as issuer under a standby letter of credit facility, supporting the refinancing of $160mm in taxable revenue bonds issued by the Macon-Bibb County Industrial Authority
• Representing CGG, a publicly traded French multinational geoscience technology services company, on its debt refinancing through the issuance of €585mm in senior secured notes and entry into a $100mm super senior revolving credit facility
• Representing a major financial institution as lender on the debt refinancing of a global cinema operator through entry into a $760.8mm priming facility
• Representing Citibank, N.A. as administrative and collateral agent under a $285mm reserve-based lending facility in the chapter 11 cases of Lonestar Resources US Inc.
• Representing a private credit fund affiliated with a major financial institution as arranger, pre-petition lender, DIP lender, and exit lender in connection with the chapter 11 cases of a multi-jurisdictional television software development company
• Representing various private equity funds and other sponsors with respect to senior revolving credit and term loan facilities made to their respective operating portfolio companies
• Representing numerous sponsors, borrowers, arrangers, agents, and lenders in “cross-border” finance transactions, involving foreign law governed syndicated and bilateral facilities based in England and Wales, France, Belgium, Luxembourg, Italy, Spain, Germany, Singapore, Hong Kong, Japan, and Australia, among other foreign jurisdictions

/Looking ahead

Recent market trends show distressed companies and their stakeholders increasingly resolve financial challenges through out-of-court restructurings and debt exchanges rather than Chapter 11. In this evolving landscape, existing and prospective stakeholders value counsel with a “hybrid” perspective—combining experience and fluency in both bankruptcy and finance concepts—to help navigate capital structures of varying size and complexity and deliver solutions that protect and maximize value, while minimizing the costs historically associated with more traditional restructuring options.