Founded in 1866,
Milbank has grown to 12 offices worldwide. In the United States, the firm has offices in New York, Los Angeles and Washington D.C. It is a market leader in infrastructure project development, project finance and restructuring and insolvency.
While the firm has
an outstanding national restructuring and insolvency
practice, it is a market leader in
the restructuring practice in California.
Milbank’s banking and capital markets practices
includes asset financing, specializing in the aviation industry. The banking team advises borrowers and lenders in acquisition finance, aircraft leases and warehouse financing. Its aviation team is very prominent in the market and works on a lot of aircraft financing matters.
The debt capital markets team advises underwriters and issuers in investment grade, high yield, convertible, Eurobonds, global and green bond offerings. The equity capital markets practice also represents underwriters in follow on offerings, common share offerings, preferred share placements and IPOs. In structure finance and securitizations, the firm is proficient in CLOs and ABS’, representing firms in the banking and financial services industry.
The M&A practice acts on the buy and sell side in private equity and strategic acquisitions. It also participates in other corporate transactions including mergers, private equity investments and joint ventures.
The restructuring and insolvency practice represents creditors and debtors in Chapter 11 bankruptcies and out of court financial restructurings.
In addition to the aviation industry, the firm also has a specialty real estate practice. It represents REITs, investors and developers in real estate related transactions including development,
financing and acquisitions.
Key clients for the firm include NCB Capital, Citibank, Crédit Agricole, Deutsche Bank Securities, Export Development Canada, JP Morgan, Goldman Sachs, BNP Paribas, Santander, RB Capital Markets, TD Securities, Park Square Capital, Marble Point Credit Management, KKR, BlackRock, QIC Global Infrastructure, Mitsui & Co, Apollo Global Management, PIMCO, HPS Investment Partners, Sumitomo Mitsui Banking Corporation, official committee of unsecured creditors for PG&E, Ambac Assurance and the Raymond Sackler family.
Research period review:
32nd edition
(2021/2022)
Throughout the most recent research period, the firm was active in
the banking , M&A, restructuring and real estate industries. In banking, the leveraged finance team acted for
arrangers and lenders largely in in acquisition
financings, but also in corporate
financings and recapitalizations. The project finance team acted largely on the lender side, but also supported borrowers.
The projects the team worked on financing were in the energy and infrastructure industries, with most of the projects related to traditional energy.
The M&A team acted on both the buy and sell side in private equity buyouts and public acquisitions. The team worked across
a number of industries, including aviation, where the firm
is considered to be a to a leader.
The New York office
in particular was very active in real estate, representing borrowers and lenders in real estate
financings. It also represented clients in acquisitions and joint ventures.
In restructuring and insolvency, the team acted for debtors and creditors in Chapter 11 and out of court restructurings.
In terms of lateral moves,
banking partner
Marc Hanrahan retired, while partner Kamal
Nesfield moved over from Latham & Watkins. On the M&A team, partners
Andrew Fadale and Richard
Presutti joined the firm from Schulte Roth & Zabel.
Deal highlights:
32nd edition
(2021/2022)
Avianca Airlines Chapter 11
Hellman & Friedman $1.175 billion financing
Maverick Aviation Partnership $4 billion acquisition of AMCK Aviation’s aircraft portfolio
