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Kenneth J. Steinberg
Partner
Mr. Steinberg is a partner in Davis Polk’s Corporate Department, practicing in the Credit Group. He represents financial institutions and borrowers on a variety of credit transactions, including leveraged acquisition financings and asset-based financings. In addition, he has substantial experience in both in-court and out-of-court restructuring and financing transactions, including debtor-in-possession financing and bankruptcy exit financings, representing both senior secured lenders and borrowers.

Work Highlights

Recent Representations
  • Citigroup as administrative agent in connection with $1.1 billion of debtor-in-possession term and asset-based revolving credit facilities for Federal-Mogul Corporation and subsequent $3.5 billion of bankruptcy exit term and asset-based revolving credit facilities 
  • J.P. Morgan as administrative agent in connection with $885 million of senior secured term and asset-based revolving credit facilities for Tower Automotive in connection with its acquisition by affiliates of Cerberus Capital Management pursuant to Section 363 of the Bankruptcy Code
  • Delta Air Lines, Inc. in connection with its $2.5 billion of first- and second-lien bankruptcy exit term and revolving credit facilities and subsequent refinancing thereof
  • Delta Air Lines, Inc. in connection with its offerings of $750 million of first-lien secured notes and $650 million of junior-lien secured notes, and concurrent $750 million of senior secured credit facilities
  • Bank of America, N.A. in connection with the out-of-court restructuring of $630 million of senior secured credit facilities for the Fontainebleau Miami hotel
  • Alliance Tire Group (co-owned by Warburg Pincus) in connection with $38 million asset-based revolving credit facility to finance its acquisition of the U.S. operations of GPX International Tire Corporation pursuant to Section 363 of the Bankruptcy Code
  • The Federal Reserve Bank of New York in connection with the term asset-backed securities loan facility (“TALF”)
  • Citigroup as administrative agent in connection with a $270 million debtor-in-possession accounts receivable securitization facility for AbitibiBowater, Inc. and subsequent $600 million bankruptcy exit asset-based revolving credit facility
  • Credit Suisse Securities (USA) LLC in connection with an $820 million senior secured term loan facility for Gymboree Corporation in connection with its acquisition by affiliates of Bain Capital
  • Bank of America, N.A. in connection with $320 million of senior secured term and revolving credit facilities for PRIMEDIA INC. in connection with its acquisition by affiliates of Texas Pacific Group
  • Cantor Fitzgerald Securities as administrative agent in connection with $35 million of debtor-in-possession term loan facilities for Sbarro, Inc. and subsequent $137.3 million of rollover and new money exit term loan facilities
  • Citigroup as administrative agent in connection with $950 million of debtor-in-possession term and asset-based revolving credit facilities for Eastman Kodak Company

Professional History

  • Partner, 2012-present
  • Associate, 2005-2012

Contact

  • 450 Lexington Avenue
    New York, NY 10017
    P: 212-450-4566
    F: 212-701-5566

Related Practices

Bar Admissions

  • State of New York

Education

  • B.S., Finance and Accounting, University of Pennsylvania, The Wharton School, 1987
    • summa cum laude
  • M.B.A., Finance, Columbia Business School, 1992
    • Dean's List
  • J.D., Fordham University School of Law, 2005
    • Dean's List
    • summa cum laude
    • Staff Member, Fordham Law Review