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Introduction
Gretchen Sherwood represents healthcare entities and nonprofit organizations in connection with various transactional matters and advises nonprofit borrowers, underwriters, and banks in connection with tax-exempt and taxable financings, strategy, and compliance issues. Gretchen is a member of the firm’s Pro Bono Committee.
My focus
Healthcare Finance and Corporate Transactions
I regularly serve as borrower’s counsel, underwriter’s counsel, or bank counsel on financing transactions for hospitals and health systems throughout the country. In addition, I advise clients through every phase of the deal, from initial structuring, drafting and negotiation, diligence review, and disclosure determinations, to implementation of post-issuance compliance procedures following closing of the transaction. I assist clients on ongoing compliance matters, including secondary market disclosure, reporting requirements, navigating events of default and change in use of bond-financed facilities.
My work also includes advising healthcare providers on corporate governance and formation matters, counseling such providers in connection with strategic affiliations or joint ventures, and other corporate contracting matters.
Independent and Charter School Financings
I have substantial experience with financing individual charter schools, charter schools under common management, and charter school networks through various structures, including bond issuances, bank loans, and other credit facilities. Through my practice, I have become well versed in the nuances of state charter and school choice laws, and regularly structure such financings to ensure compliance.
Lender’s Counsel
I regularly represent financial institutions issuing credit or liquidity facilities to support nonprofit borrowers. Much of this work involves structuring and negotiating secured and unsecured lending transactions, including limited offerings and private placements, revolving lines of credit, and term loan facilities.
Looking ahead
States are increasingly evaluating K–12 school choice options such as tax-credit scholarships, voucher programs, and additional charter school programming, which is likely to result in new market entrants in need of affordable access to capital through bond financing.
Representative experience
- Counsel to a regional health system in connection with a $1 billion debt restructuring following a merger with a neighboring health system
- Served as underwriter’s counsel and bank counsel in connection with a plan of finance including a bond financing and multiple commercial loans for a network of parental choice schools
- Represented an underwriter in connection with a $215 million bond financing involving a portfolio of 13 charter schools across four states
- Represented various domestic, national, and regional banks in connection with the direct purchase of tax-exempt bonds issued on behalf of nonprofit entities located across the country
- Counseled a rural health system in connection with its affiliation with a neighboring health system
Publications
- “User Fees, Biosimilars on FDA Priority List for 2016,” American Health Lawyers Association, December 31, 2015
Admitted to practice
Illinois
Education
DePaul University College of Law, J.D., health law certificate, magna cum laude, Order of the Coif
Saint Louis University, B.S., magna cum laude
Professional activities
- National Association Bond Lawyers (NABL)
- Women in Public Finance (WPF)
- Illinois State Bar Association
- American Health Lawyers Association
- Illinois Association of Healthcare Attorneys
- Board Member, Chicago Women in Public Finance
Recognition
- Named to the 2023 and 2022 list of “Ones to Watch” by The Best Lawyers in America© for Public Finance Law in Chicago, IL
- Two-time CALI Excellence for the Future Award Recipient
- DePaul Health Law Institute Fellow, 2012–2014
In the News
- Boston Real Estate Times
Nixon Peabody helps client 2Life create innovative housing for seniors in metro Boston
March 20, 2023This article highlights NP for advising 2Life Communities in the site acquisition and development of a new apartment community in Newton, Massachusetts, for older adults in the middle-market. The article quotes Boston Affordable Housing & Real Estate senior counsel Allen Lynch, who led the NP team that also included Rochester Project Finance & Public Finance partner Katie Baynes, Boston Affordable Housing & Real Estate counsel Christina Ricotta, and Chicago Project Finance & Public Finance counsel Gretchen Sherwood.
- Crain’s Chicago Business
People on the move
March 6, 2023The following article highlights notable legal industry moves across Chicago and New York include the recent promotions of Chicago Intellectual Property counsel George Dandalides, Complex Disputes counsels Christie Kurow of Chicago and Eric Ferrante of Rochester; Project Finance & Public Finance counsels Gretchen Sherwood of Chicago and Terance Walsh of Rochester; Healthcare counsels Michal Cantor of Long Island and Jéna Grady of New York City; and Rochester Corporate counsel Lena Gionnette. The Crain’s Chicago Business article also includes the arrival of Chicago Corporate associate Kelly Glynn to the firm.
- Crain’s New York Business
People on the move
March 6, 2023The following article highlights notable legal industry moves across Chicago and New York include the recent promotions of Chicago Intellectual Property counsel George Dandalides, Complex Disputes counsels Christie Kurow of Chicago and Eric Ferrante of Rochester; Project Finance & Public Finance counsels Gretchen Sherwood of Chicago and Terance Walsh of Rochester; Healthcare counsels Michal Cantor of Long Island and Jéna Grady of New York City; and Rochester Corporate counsel Lena Gionnette. The Crain’s Chicago Business article also includes the arrival of Chicago Corporate associate Kelly Glynn to the firm.
- New York Law Journal
Attorneys on the move
March 3, 2023The following article highlights notable legal industry moves across Chicago and New York include the recent promotions of Chicago Intellectual Property counsel George Dandalides, Complex Disputes counsels Christie Kurow of Chicago and Eric Ferrante of Rochester; Project Finance & Public Finance counsels Gretchen Sherwood of Chicago and Terance Walsh of Rochester; Healthcare counsels Michal Cantor of Long Island and Jéna Grady of New York City; and Rochester Corporate counsel Lena Gionnette. The Crain’s Chicago Business article also includes the arrival of Chicago Corporate associate Kelly Glynn to the firm.
- Chicago Daily Law Bulletin
CDLB People
Feb 21, 2023This article highlighting legal industry moves in the Chicago region features the recent promotions of Complex Disputes counsel Christie Kurow, Intellectual Property counsel George Dandalides, and Project Finance & Public Finance counsel Gretchen Sherwood, all of the Chicago office.
- Law360
The FDA's Priority List For 2016
Chicago Health Care associates Erica Cribbs, Gretchen Harper and April Schweitzer co-authored this column discussing the Food and Drug Administration’s priorities for the year.Jan 29, 2016
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Mitchell Rapaport
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