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Ari B. Blaut

Partner

Ari B. Blaut

Partner
New York +1-212-558-1656 +1-212-558-1656 +1-212-558-3588 +1-212-558-3588
[email protected]

Ari Blaut is a partner in S&C’s Finance & Restructuring Group and is co-head of the Firm’s U.S. Credit & Leveraged Finance practice. Mr. Blaut maintains a broad corporate practice advising clients on a wide range of financing transactions, including bank financings, high yield bond issuances, “PIPE” transactions, debt restructurings, liability management and creditor representations. Mr. Blaut has particular experience in leveraged finance, acquisition finance, distressed financing and private credit transactions.

Mr. Blaut is widely regarded for his work on both the bank and bond sides of transactions. Chambers USA – Nationwide (2020/2019) notes that Ari is “an ‘outstanding lawyer,’” “very very business savvy,” and “the quality of his work is exceptional.”

Recognitions

Mr. Blaut is among a select group of lawyers to have been recognized for their work in both bank lending and debt capital markets. Some of his recent recognitions include:

  • The National Law Journal – Finance, Banking & Capital Markets Trailblazer
  • Chambers USA – Recognized in Band 4, Banking & Finance in USA - New York 
  • Legal 500 United States – Next Generation Lawyer for Global Offerings and High-Yield Debt; Highly Regarded for Commercial Lending

Recent Publications

Recent publications where Mr. Blaut was an author or co-author include:

  • “Market Trends 2020/21: Investment Grade Debt Offerings” – Lexis Practice Advisor (2021)
  • “Market Trends 2020/21: PIPEs” – Lexis Practice Advisor (2021)
  • “Acquisition Finance: The ‘Inside Second Lien’ Covenant Structure” – Practical Law (2019)
  • “Corporate Debt Securities in U.S. Capital Markets” – Lexis Practice Advisor (2019)
  • “Preferred Equity as a Growing Part of Acquisition Finance for Financial Sponsors” – The M&A Lawyer (2018)
  • “Federal Investigations and Implications Under Debt Agreements” – Corporate Counsel (2017)
  • “Recent Trends in Private Equity Acquisition Financing: Growth of Private Credit” – M&A Lawyer (2017)
  • “Financing and Secured Lending in the United States” – Lexology (2016)
  • “Structuring Considerations for Minority Investments” – Deal Lawyers (2016)
  • “Borrower Favorable Trends in REIT Credit Facilities” – Law360 (2016)


SELECTED REPRESENTATIONS

Corporates
  • Andeavor in $4.1 billion of debt financing (bank and bond) for its acquisition of Western Refining
  • Arconic in $1.8 billion of high yield notes offerings and credit facilities
  • Arrangers in providing $4.1 billion of debt financing in connection with Global Payments’ acquisition of Total System Services
  • AT&T in over $150 billion of debt financing transactions, including its $41.5 billion bridge financing in the spin-off of WarnerMedia, and in its $40 billion bank financing in connection with its acquisition of Time Warner
  • Baxter International in its €1.5 billion bond offering and €2 billion bank debt financing
  • Canadian Pacific Railway in the $8.6 billion debt commitment for its attempted acquisition of Kansas City Southern
  • CIM Commercial Trust in $1.2 billion of term loan and revolving bank financing
  • CyrusOne in multiple financings, including its $2.5 billion multi-currency credit facility
  • Harris Corporation in $3.4 billion of debt financing (bank and bond) for its acquisition of Exelis and debt financing matters related to its acquisition of L3
  • Integra LifeSciences in its $2.2 billion bank debt financing
  • Lenders in connection with VICI Properties’ $2.6 billion bank debt financing, $4 billion financing for the acquisition of the Venetian Resort Las Vegas and the Sands Expo and Convention Center, and $4.76 billion debt financing commitment with respect to the Eldorado Resorts transaction
  • Rent-A-Center in $1.875 billion of debt financing to finance its acquisition of Acima Holdings
  • Seattle Genetics in connection with the bridge financing for its acquisition of Cascadian Therapeutics
  • Underwriters on $15 billion of bond issuances by Alibaba Group
  • VRIO in connection with its $1 billion high yield bond offering and $400 million Brazilian CCB offering

Special Situations
  • Act III in connection with its “PIPE” in BJ’s
  • Ares Management in its preferred equity investment in Ferrellgas in connection with Ferrellgas’ restructuring and successful emergence from bankruptcy
  • AT&T in arrangements with holders of NextWave Wireless notes as part of its distressed acquisition of NextWave Wireless
  • Canyon Capital in its $600 million “PIPE” transaction with New Residential Investment Corp.
  • Certain large creditors in connection with the financial reorganization and recapitalization of Acosta, Inc.
  • Convertible bond holders in connection with the restructuring of Pernix Therapeutics
  • Deerfield Management in connection with the debt recapitalization of Lannett Company, in its “PIPE” investment in Sientra, as secured lender and stalking horse bidder in the Chapter 11 cases of Melinta Therapeutics, and as senior secured creditor, DIP lender and plan sponsor in the Chapter 11 cases of Endologix
  • Delaware Life Insurance Company in connection with Sculptor Capital Management’s debt recapitalization
  • Eastman Kodak in its PIPE transaction with Southeastern Asset Management, and in its $950 million debtor-in-possession facility, $830 million junior debtor-in-possession facilities and its exit financing facilities
  • Key Energy in connection with its out-of-court restructuring
  • Knoll Inc. in connection with its “PIPE” transaction with Investindustrial VII L.P.
  • Lion Capital as stalking horse bidder and DIP provider in connection with the ongoing bankruptcy of John Varvatos Enterprises, Inc., and in the restructuring of Bumble Bee Foods

Private Equity
  • Ares Management and Ontario Teachers’ Pension Plan Board in $1.2 billion of term loans and credit facilities to finance the acquisition of TricorBraun, and in $1 billion of debt financing (term loans, asset based revolver and bonds) for their acquisition of CPG International
  • Ares Management in $680 million of first lien, second lien and revolving debt financing in connection with its $1.4 billion investment in DMG Practice Management Solutions, and in debt financing related to its acquisition of a large minority stake in ATD Corporation from TPG
  • Bumble Bee Foods, a portfolio company of Lion Capital, in connection with its $850 million debt refinancing
  • Castle Management, a joint venture of Highgate Hotels and Trilantic Capital Partners, in its debt recapitalization
  • CIM Group LLC and its real estate funds on numerous financings
  • Lion Capital in the stretch first lien acquisition financing of GFG
  • Ontario Teachers’ Pension Plan Board in $635 million of debt financing in connection with its acquisition of a majority equity interest in Mitratech Holdings, Inc., and in $710 million of first lien, second lien and revolving facilities for its acquisition of PODS
  • Rhône Capital in $1 billion of multi-jurisdictional asset-based revolving and term loan facilities for its acquisition of CSM NV’s bakery business, and in $535 million of first lien, second lien and revolving debt financing for its acquisition of Ranpak Holdings
  • Tinicum Incorporated in the debt financing for the acquisition of certain outdoor advertising/billboard assets from Clear Channel Outdoor
  • Versa Capital in the dividend recapitalization of its portfolio company Avenue Stores

Private Credit
  • Acted for numerous private credit providers on the full range of products (including among others, unitranche, second lien, mezzanine debt and preferred stock). Have recently acted for, including among others: CPPIB Credit, Crescent Capital, Delaware Life, Guggenheim Life, Oaktree Capital Management and Owl Rock Capital.