Private Credit &Special Situations
Helping clients move the market and maximize value.
Our Private Credit & Special Situations group consistsof over 100 finance and restructuring attorneys withdeep experience representing private credit and debt
funds, BDCs, special situations, opportunistic,
distressed and dislocation funds, fulcrum lenders,equity-holders, hedge funds, CLOS and financial
institutions through varied market cycles. We are one
team delivering thoughtful solutions and essential
information to clients at every stage of the lifecycle of a
private credit investment. We empower our clients inthe market by driving peer-to-peer engagement anddiscourse.
We are commercial, innovative and solution oriented.
Partnering with our clients, we always take a forwardlooking approach to market terms, monitoring industry
trends to identify opportunities and anticipate rather
than react. We offer clients our market insights andknowledge based on our multidisciplinary expertise,proprietary database, and strong industry relationships.
Leveraged Finance & High Yield
We leverage our knowledge and experience to provide
credit funds and non-bank lenders with comprehensive,
solutions-focused service with respect to their investment
opportunities, including:
direct lending (first lien secured loans, unitranche
products, and ABL/FILO tranches and unsecuredloans)junior capital (second lien and mezzanine
loans/notes, private high-yield placements, holdco
pik loans/notes, or preferred or convertible equityinvestments)
credit opportunities and special situation financings
bespoke products that satisfy credit fund sensitivities
new money primary issuance, including custom
indenture productsloans, high yield and investment grade bonds

Capability
Lawyers
W. Todd Holleman (Todd)
New York

Recognition
Ranked in Commercial
Lending
LEGAL 500 2019

Received U.S. Nationwide
Ranking in Banking &Finance
CHAMBERS USA 2019Tier 1 for Banking & Financein “Best Law Firms”
U.S. NEWS & WORLDREPORT 2018

Lawyer Received “Up &Coming” Recognition
CHAMBERS UK 2016

CLO investing
stressed / distressed debt
refinancings and dividend recapitalizations
venture debt
Distressed and Opportunistic Representations
We structure and implement innovative and value-accretive
restructuring solutions across a broad spectrum oftransactions. From initial group formation stage throughtransaction completion, we are involved in every aspect of
formulating, negotiating, and effectuating a restructuring.
We represent lenders and lender groups in in-court and outof-court financial and operational restructurings and workouts, including:balance sheet refinancings and/or providing capitalsolutions to stressed credits (including structured
debt-equity investing, equity co-investments, andpreferred stock)
exit and rescue financings
representing the interests of the equitized lenders ascompany counsel post-restructuring
363 sale and plan sponsor transactions
Range of Disciplines
Leveraging a diversity of experience among top tierfinance, restructuring, capital markets, private equity andregulatory lawyers, we advise clients on each of the key
components needed for any credit representation. We
provide a seamless delivery of multidisciplinary services
across practice areas, including Real Estate, Private Equity,
Capital Markets, Mergers & Acquisitions, Healthcare,
Energy, and Litigation teams to provide experienced
counsel to our clients across all public and private sectors.

Cases & DealsMay 14, 2024
King & Spalding represents Cyrus One in a $1.175 billion
asset-backed securities offering
King & Spalding Advises Barings on Financing for
Acquisition of Aspia by Vitruvian Partners
August 8, 2023
King & Spalding Advises Barings on Financing
Commitment Supporting the Recommended Offer for
Blancco Technology Group plc
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Insights
NEWSLETTER
July 31, 2024
Lender Liability Quarterly – July 2024

ARTICLE
July 10, 2024
Private Credit Restructuring: Less Cost and Volatility;
More Optionality
ARTICLE
June 25, 2024
Marisa Sotomayor, Amin Doulai, Richard Kitchen, Patrick
Schumann, Serena Granger and George Komnenos arecontributing editors to Lexology Panoramic’s Loans &Secured Financing 2025
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Events
CONFERENCE
September 17, 2024
Healthcare Deal Summit
CONFERENCE
August 1, 2024
The Evolving Face of Finance: Private Credit's Role in theMiddle East
SPEAKING ENGAGEMENT
July 25, 2024
Sarah Primrose to Speak at American Bankruptcy
Institute’s 2024 Southeast Bankruptcy Workshop
VIEW ALLNews
IN THE NEWS
September 5, 2024
Austin Jowers, Jeff Dutson, Michael Fishel, SarahPrimrose, Christopher Coleman, Brooke Bean, andTaeyeong Kim counsel Red Lobster before a Florida
bankruptcy court, which approved a plan for the seafood
restaurant chain to successfully exit bankruptcy just underfour months after filing for Chapter 11 protection. Thecompany emerged from bankruptcy under a newownership group led by Fortress Credit Corp.—retaining
545 restaurants operating throughout North America.
IN THE NEWS
September 3, 2024
Michael Handler discusses covenant wars in debt
financing and explains why they could cost the market
IN THE NEWS
July 16, 2024
Todd Holleman is quoted in a profile examining theexecutives that are leading the way in the private credit
industry
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