SunTrust Bank - Broad Range of Expertise Resolves Legal Complications in $32 Million Loan Deal

Challenge

 

An AGG team represented SunTrust Bank, one of the nation’s largest financial services holding companies, in a deal to provide multiple loan facilities totaling more than $32 million to the global manufacturer of a broad line of automated analytical laboratory instruments in order to finance a stock redemption transaction. The loans faced tough challenges that included numerous negotiations with the advisor, the shareholders and the mezzanine lender, international law issues, complicated tax issues relating to an IC-Disc corporate structure, and various real property title and survey issues.

 

Approach

 

Utilizing expertise from a cross-section of the firm’s practice groups, AGG was able to successfully maneuver through the complex legal structure and negotiate terms that balanced SunTrust’s credit requirements with the restrictions imposed by other parties to the transaction. In many cases, AGG took the lead in using its legal expertise to propose practical solutions that helped close the transaction.

 

Result

 

The stock-redemption financing transaction closed after six months, allowing the ownership transition to proceed.

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