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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 the firm’s Finance and Restructuring Group. 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 expertise in leveraged finance, acquisition finance and private credit transactions.

Mr. Blaut is widely regarded for his work on both the bank and bond sides of transactions. Chambers USA – Nationwide (2019) notes that “the quality of his work is exceptional. His ability to really dig deep into the documents and to negotiate is strong, and he’s very very business savvy.”

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. Recent recognitions include:
  • Chambers USA – Up and Coming for Nationwide Banking & Finance 
  • The National Law Journal – Finance, Banking & Capital Markets Trailblazer
  • Legal 500 United States – Next Generation Lawyer for Global Offerings and High-Yield Debt; Highly Regarded for Commercial Lending
  • IFLR 1000 – Rising Star
  • Super Lawyers – Rising Star for Corporate Finance
  • M&A Advisor – Emerging Leader Award

Recent Publications

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

  • “Acquisition Finance: The ‘Inside Second Lien’ Covenant Structure” – Practical Law (2019)
  • “Market Trends 2018/19: PIPEs” – Lexis Practice Advisor (2019)
  • “Corporate Debt Securities in U.S. Capital Markets” – Lexis Practice Advisor (2019)
  • “Market Trends 2017/18: Investment-Grade Debt Offerings” – Lexis Practice Advisor (2018)
  • “Market Trends 2017/18: PIPEs” – Lexis Practice Advisor (2018)
  • “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)
  • “Recent Trends In Investment-Grade Debt Offerings” – Lexis Practice Advisor (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
  • AT&T in multiple transactions, including its $40 billion bank financing in connection with its acquisition of Time Warner
  • Andeavor in $4.1 billion of debt financing (bank and bond) for its acquisition of Western Refining
  • Arrangers in providing $4.1 billion of debt financing in connection with Global Payments’ acquisition of Total System Services
  • 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
  • Underwriters on $15 billion of bond issuances by Alibaba Group
  • Eastman Kodak in its PIPE transaction with Southeastern Asset Management
  • VRIO in connection with its $1 billion high yield bond offering and $400 million Brazilian CCB offering
  • AMC Networks on multiple bank financing transactions
  • Rent-a-Center in connection with the recapitalization of its debt structure
REITs, Hospitality and Gaming
  • CyrusOne in its $3.0 billion multi-currency bank financing
  • Forest City in $900 million of bank financing in connection with its conversion to a real estate investment trust
  • CIM Commercial Trust in $1.2 billion of term loan and revolving bank financing
  • Lenders in connection with VICI Properties $2.6 billion bank debt financing and $4.76 billion debt financing commitment with respect to the pending Eldorado Resorts transaction
  • Cole Operating Partnership V in connection with its $350 million bank financing
  • Quality Care Properties in $1.8 billion of bank and bond financing
  • Highgate Hotels on its debt financing transactions
  • American Casino on multiple bank and bond financing transactions

Biotechnology, Pharmaceuticals and Medical Sciences
  • Seattle Genetics in connection with the bridge financing for its acquisition of Cascadian Therapeutics
  • Baxter International in its €1.5 billion bond offering
  • Integra LifeSciences in its $2.2 billion bank debt financing
  • Oaktree Capital Management in connection with its debt and equity investments in Oxford Biomedica and Sorrento Therapeutics
  • Impax Laboratories in multiple bank debt financings including its combination with Amneal Pharmaceuticals
  • Convertible bond holders, including Deerfield Management, in Pernix Therapeutics out-of-court restructuring

Private Equity
  • 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
  • Bumble Bee Foods, a portfolio company of Lion Capital, in connection with its $850 million debt refinancing
  • Lion Capital in the stretch first lien acquisition financing of GFG
  • Ontario Teachers’ Pension Plan Board (OTPPB) in $710 million of first lien, second lien and revolving facilities for its acquisition of PODS
  • Rhône Capital in $535 million of first lien, second lien and revolving debt financing for its acquisition of Ranpak Holdings
  • Castle Management, a joint venture of Highgate Hotels and Trilantic Capital Partners, in its debt recapitalization
  • Ares Management in debt financing related to its acquisition of a large minority stake in ATD Corporation from TPG
  • 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
  • Rhône Capital in $1 billion of multi-jurisdictional asset-based revolving and term loan facilities for its acquisition of CSM NV’s bakery business
  • Ares Management and OTPPB in $1 billion of debt financing (term loans, asset based revolver and bonds) for their acquisition of CPG International
  • CIM Group LLC and its real estate funds on numerous financings
 
Special Situations
  • Ad hoc committee of Key Energy’s unsecured notes, led by Platinum Equity, in connection with Key’s prepackaged Chapter 11
  • Tinicum Incorporated in connection with the out-of-court restructuring of its portfolio company F+W Media
  • AT&T in arrangements with holders of NextWave Wireless notes (senior secured, subordinated and third lien) as part of its distressed acquisition of NextWave Wireless
  • Eastman Kodak in its $950 million debtor-in-possession facility, $830 million junior debtor-in-possession facilities and its exit financing facilities
  • Versa Capital in the exit financing for its 363 acquisition of Avenue Stores
  • Ares Management as unsecured note holder in the restructuring of Sbarro

 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.