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Overview
Tracey Chenoweth is a partner in Paul Hastings’ Corporate practice and is based in New York.
Tracey represents leading private equity firms and their portfolio companies, corporate borrowers and distressed debt investors on a broad range of U.S. and cross-border financing transactions. Her practice draws on extensive transactional experience spanning a variety of industries, including financial services, retail and manufacturing. She advises clients on acquisition financings for strategic investors, leveraged buyouts, bridge loans and other secured and unsecured financings, as well as financings secured by margin stock.
Education
- University of Southern California Gould School of Law, J.D.
- Duke University, B.A.
Representations
Private Equity
- Antarctica Capital, Mubadala Capital and Softbank in the financings for their acquisition of Imperial Parking and Citizens Parking.
- Crimson Capital in credit facilities for its investment in the Tyden Group and subsequent tuck-in acquisitions.
- Five Point Infrastructure in several matters, including the formation of a strategic joint venture with Diamondback Energy to create the largest independent water infrastructure platform in the Midland Basin and a strategic midstream joint venture with Matador Resources.
- H.I.G. Capital in several matters, including the financings for its acquisitions of CargoTuff, Global Elite Group and Shore Excursions Group.
- Highbridge Capital Management in financings related to the launch of its newly formed subsidiary, Currax Holdings USA, and Currax Holdings’ acquisition of substantially all of the assets of Pernix Therapeutics Holdings.
- Pamplona Capital Management in the financing for its acquisition of Veritext and for other portfolio companies, and in connection with the sale of nThrive to Clearlake Capital.
- SDC Capital Partners in the financing for its acquisition of several portfolio companies, including ALLO Communications, IQ Fiber and SLiC Network Solutions.
- Wendel SE in the financing for its acquisition of Crisis Prevention Institute and subsequent refinancings.
Corporate
- A&E Television Networks in matters related to its credit facility.
- Armstrong Flooring (formerly NYSE: AFI) in its Chapter 11 cases filed in the Bankruptcy Court for the District of Delaware, pursuant to which the company sold substantially all of its assets.
- Caesars Entertainment (formerly Nasdaq: CZR) in its $17.3 billion acquisition by Eldorado Resorts, creating the largest casino and entertainment company in the U.S.
- Crane Co. (NYSE: CR) in its separation into two publicly traded companies, Crane Co. and Crane NXT, and the related financing, consisting of a $500 million revolving credit facility and a $300 million term loan A facility.
- Crane Co. (NYSE: CR) in the financing for its acquisition of Precision Sensors & Instrumentation, consisting of a $900 million revolving credit facility and $900 million delayed draw term facility.
- Crane NXT (NYSE: CXT) in its financing entered into in connection with its separation from Crane Co., consisting of a $500 million revolving credit facility and a $350 million term loan A facility.
- Del Frisco’s Restaurant Group (formerly Nasdaq: DFRG) and its board of directors in financing for its $325 million acquisition of Barteca Restaurant Group and its subsequent whole company privatization.
- Del Monte Pacific Limited in a liability management transaction that facilitated a new “super-priority” financing arrangement that provided approximately $240 million of new money to a newly formed U.S. subsidiary of Del Monte Foods Inc.
- Duke Energy (NYSE: DUK) in its sale of a 19.7% indirect equity interest in Duke Energy Florida to Brookfield Super-Core Infrastructure Partners for $6 billion.
- Duke Energy (NYSE: DUK) in the sale of its Commercial Renewables business to Brookfield Renewable Partners for approximately $2.8 billion, and a number of amendments to project-specific debt facilities necessary to consummate the transaction.
- Duke Energy (NYSE: DUK) in the sale of its Tennessee local distribution company business to Spire Inc. for approximately $2.5 billion in cash.
- Dell Technologies (NYSE: DELL) in its $4 billion sale of Boomi to Francisco Partners and TPG.
- Elon Musk in securing $25 billion of debt financing commitments to provide financing for his $44 billion acquisition of Twitter, including a $12.5 billion margin loan.
- Foot Locker (NYSE: FL) in multiple financing matters, including its revolving asset-based credit agreement, and in connection with its agreement to be acquired by DICK’S Sporting Goods.
- A high-speed trading firm in its $200 million revolving credit facility and $3 billion term B facility and a $500 million revolving credit facility extended to its broker-dealer subsidiary.
- Intercept Pharmaceuticals in the exchange of $307 million of 3.25% convertible senior notes due 2023 and $115 million of 2.00% convertible senior notes due 2026 for $382 million of new 3.50% convertible senior notes due 2026.
- ITT (NYSE: ITT) in its acquisition of SPX FLOW, including the related debt and equity financing, including a $2.875 billion delayed draw term loan facility and a $1.2 billion bridge loan facility.
- Lachlan Murdoch, Grace Murdoch, Chloe Murdoch and certain trusts for their benefit in the resolution of all disputes related to the Murdoch Family Trust and the related margin stock-based financing.
- MFA Financial (NYSE: MFA) in its $500 million capital raise through a loan agreement funded by certain funds and accounts managed by subsidiaries of Apollo Global Management, including subsidiaries of Athene Holding.
- NCR Atleos (NYSE: NATL) in its financing entered into in connection with its spin-off from NCR Voyix, consisting of a $500 million revolving credit facility, a $835 million term loan A facility and a $750 million term loan B facility.
- NCR Corporation in several financings and its separation into two separate public companies, NCR Atleos (NYSE: NATL) and NCR Voyix (NYSE: VYX).
- NCR Voyix (NYSE: VYX) in its financing entered into in connection with its spin-off of NCR Atleos, consisting of a $200 million revolving credit facility and a $200 million term loan A facility.
- NFP its sale to Aon by funds affiliated with Madison Dearborn Partners and HPS Investment Partners for an enterprise value of approximately $13 billion, including $7 billion in cash and assumed liabilities and $6 billion in equity in the form of 19 million Aon shares.
- Rite Aid (formerly NYSE: RAD) in its credit facilities, consisting of a $2.8 billion revolving credit facility and $350 million first-in, last-out term loan facility.
- Semtech Corporation (Nasdaq: SMTC) in its credit facilities, consisting of a $150 million term A loan facility and a $250 million revolving credit facility.
- Triumph Group (NYSE: TGI) in a settlement agreement reached between one of its subsidiaries and Bombardier to resolve all outstanding commercial disputes between the parties related to the design, manufacture and development of wing components, and related amendments to the Triumph credit facilities.
- Tri Pointe Homes (NYSE: TPH) in its agreement to be acquired by Sumitomo Forestry Co. Ltd., in an all-cash transaction valued at approximately $4.5 billion, and related debt financing amendments.
- Yahoo! (and its successor Alibaba) in the sale of its operating business to Verizon Communications, as well as a margin loan facility designed to monetize its investment in Alibaba Group Holding.