Kenneth J. Steinberg
Mr. Steinberg is a partner in Davis Polk’s Corporate Department, practicing in the Credit Group. He represents lenders 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.
Acquisition Financings – Lender Representations
- $390 million first-lien term loan facility, $160 million second-lien term loan facility and $200 million asset-based revolving credit facility to AEA Investors LP for the acquisition of Gypsum Management and Supply, Inc.
- $655 million senior secured credit facilities to AEA Investors LP for the acquisition of Siemens Water Technologies
- $495 million senior secured credit facilities to Madison Dearborn Partners for the acquisition of Walgreens Infusion Services from Walgreen Co.
- $465 million senior secured first-lien credit facilities to AEA Investors LP for the acquisition of Pro Mach Group, Inc.
- $100 million senior secured asset-based revolving credit facility to Bain Capital Partners, LLC for the acquisition of TI Fluid Systems, LLC
Bankruptcy and Restructuring Financings – Agent Representations
- $1.1 billion debtor-in-possession term and asset-based revolving credit facilities for Federal-Mogul Corporation, and its subsequent $3.5 billion of bankruptcy exit term and asset-based revolving credit financing
- $950 million debtor-in-possession term and asset-based revolving credit facilities for Eastman Kodak Company
- $630 million debt restructuring for Fontainebleau Miami
- $560 million superpriority debtor-in-possession credit facility for Exide Technologies
- $2.5 billion first- and second-lien bankruptcy exit term and revolving credit facilities and subsequent refinancing for Delta Air Lines, Inc.
- The Federal Reserve Bank of New York in connection with the term asset-backed securities loan facility (TALF)
Other Notable Representations
- $2.14 billion senior secured term loan facility and $500 million secured revolving credit facility to facilitate a spinoff by Windstream Holdings of its communication distribution systems into Communication Sales & Leasing, Inc.
Mr. Steinberg has been recognized as a leading lawyer in:
- IFLR1000 U.S. – Banking: Bank Lending
- “Key Developments and Trends in DIP Financing,” Practical Law Finance
- American Bar Association
- New York State Bar Association
- Partner, 2012-present
- Associate, 2005-2012
Articles and Books
Similar But Not The Same: Some Ways in Which Bonds and Loans Will Differ in a Restructuring
The International Comparative Legal Guide to: Lending & Secured Finance 2016 (Chapter 6) | Global Legal Group Ltd.
Key Developments and Trends in DIP Financing | Practical Law Finance, Thomson Reuters, 2015