Daniel P. Strzalka

My focus

I counsel national banks, mezzanine funds, and venture capital funds in connection with cash flow and asset-based senior and subordinated credit facilities. A significant portion of my practice involves the structuring, negotiating, and documenting finance transactions. Typical representations often include intercreditor arrangements, underlying acquisitions, international components, and other deal complexities, such as specialized industries. I also regularly represent corporate clients (both private and public) and private equity clients entering into financing transactions involving acquisition financing, subscription facilities, working capital loans, capital expenditure loans, and other financing arrangements.

Looking ahead

As companies exhaust funds available from the multiple tranches of Cares Act funding, they will need to be prepared to meet continuing liquidity challenges, particularly in those industries that experienced more significant disruption from the COVID pandemic. This will present challenges and often may require unique structuring of financing arrangements. I expect to see stakeholders creatively work together through combinations of equity and debt financing and/or restructurings to bridge the gap until business cycles become more normalized.

Representative experience

• Counsel to agent bank in connection with $1 billion revolving credit facility to higher education institution located in the Midwest
• Counsel to private equity fund in multiple subscription facilities secured by capital call commitments of institutional investors
• Counsel to agent bank in connection with $120 million revolving and delayed draw term facility to nationwide health care provider
• Counsel to regional commercial bank in connection with out-of-court restructuring of term loan facilities extended to a group of skilled nursing homes and assisted living facilities
• Counsel to sponsor led fragrance company in connection with senior and subordinated credit facilities in connection with large add-on acquisition and dividend recapitalization
• Counsel an international technology consulting company in connection with a large multi-bank cross-border senior secured term and revolving credit facility
• Counsel to venture capital fund in connection with initial investment in California-based online marketing and advertising company and subsequent add-on debt and equity investments
• Counsel to mezzanine fund in connection with senior subordinate secured mezzanine loans to multiple lower mid-market portfolio companies
• Counsel to bank in connection with revolving credit facility secured by tax lien collateral involving tri-party intercreditor arrangement