Robert A. Drobnak

/My focus

Commercial Finance and Restructuring

I represent banks and other financial institutions and funds in lending and debt-restructuring transactions, with extensive experience in cash-flow loans, ABLs, debtor-in-possession financings, senior and mezzanine facilities, out-of-court workouts and restructurings, and real estate transactions. I focus primarily on middle market transactions, but also represent parties in large-cap deals.

Private Equity and Alternative Investments

In addition to working for financing sources, I represent private equity portfolio companies and corporate borrowers in their commercial and acquisition financing, securitization, and distressed investment matters.

/Representative experience

Some engagements prior to joining Nixon Peabody are included.

• Represent senior lender and arranger of senior and mezzanine facilities to, among other things, fund buyout of co-owners and subsequent refinancing of mezzanine facility
• Represent mezzanine fund in second lien financing and associated equity co-investment for strategic acquisition by private equity portfolio company
• Represent investment fund in distressed senior secured financing to national gaming and entertainment retailer and successful exit
• Represent private equity portfolio company in bridge financing and refinancing of existing senior debt and bridge notes
• Represent senior lender in financing to refinance existing debt and fund an acquisition of a carve-out product line
• Represent international heavy product distributor in forbearance and workout of asset-based revolver and subsequent refinancing
• Counsel to company in $115 million financing for the formation and implementation of an employee stock ownership plan
• Counsel to lender in providing secured credit facility to national gaming and entertainment retailer
• Counsel to lender in providing equipment and working capital financing to a card manufacturer
• Counsel to Debtor in bankruptcy case of Clare Oaks, a continuing care retirement community, including bond restructuring as part of the exit financing
• Counsel to DIP Lender in bankruptcy case of St. Mary of the Woods, a continuing care retirement community
• Counsel to the special servicer in the modification and restructuring of $135,000,000 securitized mortgage loans secured by a Chicago office building
• Counsel to Debtors in bankruptcy cases of Fairview Ministries and certain affiliates, a continuing care retirement community
• Counsel to Debtor in bankruptcy case of Olde Prairie Block Owner, a real estate development enterprise
• Counsel to borrower in restructuring of $70 million CMBS securitization of a well-known public golf course in Arizona
• Counsel to lead arranger and agent for pre-petition senior secured credit facilities and restructuring of prepetition capital structure in conjunction with notes issued under multiple indentures, DIP loan and exit facility to leading window and door manufacturer
• Counsel to lead arranger and agent in workout of debt financing for paper and plastic manufacturer
• Counsel to lead arranger and agent in construction and workout of credit facilities for racing and casino enterprise
• Counsel to lead arranger and agent in workout of senior secured credit facilities for leading provider of performance electronics, which included a debt-for-equity swap
• Counsel to UBS, as lead arranger and agent, for the $193.7 million multi-currency senior debt financing of SGS International (consisting of a revolving credit facility, future acquisition facility and term loan facility) and subsequent amendments, including an amendment and extension transaction; also originally included a $200 million bond issuance underwritten by UBS
• Counsel to lead arranger and agent of $1.9 billion debt financing consisting of asset-based revolver, senior term loans and junior term loans for leading distributor of PVF and related products and services to the energy industry (including subsequent incorporation of secured high-yield notes into the capital structure)
• Counsel to UBS, as lead arranger and agent, for the $200 million asset-based syndicated revolving credit facility to Massey Energy and its subsidiaries (which included upsizings and other amendments)
• Counsel to lead arranger and agent of $900 million credit facilities consisting of mezzanine, first lien and second lien loans for the acquisition of kitchen and food crafting products, scrapbooking supplies and other crafting products
• Counsel to UBS, as lead arranger and agent, for the $600 million asset-based revolving credit syndicated credit facility for Linens N’ Things and its subsidiaries
• Counsel to lead arranger and agent for the $350 million asset-based revolving credit facility in conjunction with the $765 million CMBS facility for the acquisition of a department store

/Insights

• Co-Presenter, "Negotiating and Documenting DIP Financing Transactions," American Bar Association 2012 Annual Meeting, April 4, 2012
• Presenter, “Avoiding UCC Mistakes in Business Transactions,” February 26, 2009, Oak Brook, IL