Associate - Debt Finance

BakerHostetler•Cleveland, OH

1d•$240,000 - $300,000•Hybrid

About The Position

BakerHostetler’s Cleveland office is seeking a midlevel associate with 3–6 years of experience to join the Debt Finance team within the Business Practice Group. The associate will work on sophisticated financing transactions for a diverse client base, representing lenders, borrowers, agents, and arrangers across a broad range of credit facilities and financing structures. The role calls for experience with syndicated and bilateral credit facilities, varied secured and unsecured lending structures, loan-document drafting and negotiation, secured personal-property transaction principles, third-party deliverables, diligence, and complex closing processes. Candidates with more than four years of experience should also be familiar with drafting and negotiating legal opinions and opinion diligence. Successful candidates will demonstrate professional commitment, strong interpersonal skills, the ability to thrive in a fast-paced, deadline-driven environment, and clear, concise communication with clients and colleagues. The position is based in Cleveland, Ohio. The expected annual salary range is $240,000–$300,000, and associates participate in a performance- and hours-based bonus program. Applications are accepted on an ongoing basis until the position is filled.

Requirements

3–6 years of experience for the midlevel associate role.
Experience representing arrangers, agents, lenders, and borrowers in syndicated or bilateral credit facilities.
Experience with a range of credit facilities, including secured term loans, cash-flow and asset-based revolving credit facilities, leveraged acquisitions, first-lien, second-lien, and unsecured facilities.
Experience drafting, reviewing, and negotiating loan and related finance documents.
Involvement and general familiarity with secured personal-property transaction principles and procedures, including UCC Article 9 and relevant elements of UCC Article 8.
Experience negotiating and obtaining third-party deliverables such as control agreements, bailee waivers, credit card processing agreements, and insurance endorsements.
Experience with standard debt-finance diligence, including reviewing searches and organizational documents, reviewing management agreements, and preparing disclosure schedules.
Experience organizing and running complex closing processes.
Experience working with substantial clients, such as debt funds, banks, private-equity sponsors, and privately held middle-market companies.
For candidates with more than four years of experience, familiarity with drafting and negotiating legal opinions and opinion diligence.
J.D. from a nationally recognized and accredited law school, with a strong academic record.
Admission to practice law in Ohio.
Professional commitment and interpersonal skills suited to a collaborative team environment.
Ability to thrive in a fast-paced, deadline-driven environment.
Clear and concise oral and written communication with clients and team members.

Nice To Haves

Experience with a reasonably varied scope of secured lending transactions, primarily in the middle market, as well as smaller venture-stage debt financings and some large investment-grade financings.
Experience with some cross-border work, project finance, restructuring and workout, and first-lien, second-lien, or mezzanine transactions across a wide variety of industries.

Responsibilities

Represent arrangers, agents, lenders, and borrowers in syndicated or bilateral credit facilities.
Work on credit facilities and financing structures, including secured term loans, cash-flow and asset-based revolving credit facilities, leveraged acquisitions, first-lien, second-lien, and unsecured transactions.
Draft, review, and negotiate loan documents, including credit or loan agreements, security agreements, guarantees, intercreditor agreements, subordination agreements, promissory notes, fee letters, commitment letters, term sheets, and amendments.
Handle matters involving secured personal-property transactions, including UCC Article 9 and relevant elements of UCC Article 8.
Negotiate and obtain third-party deliverables, including control agreements, bailee waivers, credit card processing agreements, and insurance endorsements.
Conduct debt-finance diligence from the lender and/or borrower perspective, including reviewing searches and organizational documents and preparing disclosure schedules.
Organize and run complex closing processes.
For candidates with more than four years of experience, draft and negotiate legal opinions and conduct opinion diligence.
Work collaboratively with clients and team members in a fast-paced, deadline-driven environment.