Complex Deal with National Banks Completed in Weeks

Members of Pullman & Comley’s Commercial Finance practice successfully represented People’s United Bank, N.A. in connection with several credit facilities to a regional supplier and delivery company of petroleum products.

The syndicated facility, in the aggregate amount of up to $178 million, involved three large national banking associations, 17 affiliates and subsidiaries of the main borrower and included revolving lines of credit, capital expenditure lines of credit, revolving swingline facilities, term loans and accordion features. Our client was the lead arranger, administrative agent, lender, and swingline lender, as well as the counterparty under an interest rate hedging transaction.

As complex as this deal was, our attorneys worked diligently with the loan officer, the bank’s treasury desk, the borrower’s officers and directors as well as counsel for the other banks in the syndicate and the borrower’s counsel to document and close this transaction in a three-week time period.