Kenneth J. Steinberg
Represents financial institutions as arrangers and lenders on a full range of lending transactions, including leveraged acquisition and asset-based financings.
Ken is a trusted adviser to a host of preeminent bank clients. He represents financial institutions as arrangers and lenders on a full range of lending transactions, including leveraged acquisition financings and refinancings, and asset-based financings.
He also has substantial experience in restructuring-related and other distressed financings, including debtor-in-possession and bankruptcy exit financings, out-of-court rescue financings and workout amendments. He represents administrative agents, arrangers and financing providers.
A regular author on leveraged financing and restructuring matters, Ken is recognized as a leading banking and finance lawyer in Chambers USA and IFLR1000. According to Chambers, clients “love working with him” and regard him as “phenomenal” and a “very strong” practitioner who is “really smart and easy to work with.”
Experience
Acquisition Financings – Lender Representations
- $500 million senior secured asset-based revolving credit facility provided to Flexi-Van Leasing, LLC
- $1.05 billion financing provided to CityMD, a portfolio company of Warburg Pincus LLC, in connection with its proposed acquisition of Summit Medical Group, P.A.
- $1.825 billion in loan facilities to Drive Chassis Holdco, LLC, a portfolio company of Apollo Global Management, LLC
- $390 million first-lien term loan facility, $160 million second-lien term loan facility and $200 million asset-based revolving credit facility to AEA Investors LP for the acquisition of Gypsum Management and Supply, Inc.
Bankruptcy and Restructuring Financings – Agent Representations
- $2.1 billion debtor-in-possession term and revolving credit facilities and exit credit facilities for Frontier Communications, and ongoing advice to lenders in connection with subsequent financing transactions
- $75 million debtor-in-possession term loan facility for Hornbeck Offshore Services, Inc.
- $3.95 billion loan facility for iHeartRadio in connection with iHeart’s emergence from chapter 11 proceedings
- $300 million first lien term loan facility for Hornbeck Offshore Services, Inc.
- $560 million superpriority debtor-in-possession credit facility for Exide Technologies
- $630 million debt restructuring for Fontainebleau Miami
- $950 million debtor-in-possession term and asset-based revolving credit facilities for Eastman Kodak Company
- $1.1 billion debtor-in-possession term and asset-based revolving credit facilities for Federal-Mogul Corporation, and its subsequent $3.5 billion of bankruptcy exit term and asset-based revolving credit financing
Borrower Representations
- $2.5 billion first- and second-lien bankruptcy exit term and revolving credit facilities and subsequent refinancing for Delta Air Lines, Inc.
- The Federal Reserve Bank of New York in connection with the term asset-backed securities loan facility (TALF)
Other Notable Representations
- $2 billion senior secured asset-based revolving credit facility for United States Steel Corporation
- $3.55 billion debt refinancing undertaken by Clear Channel Outdoor Holdings, Inc. and its subsidiaries.
Insights
Recognition
Chambers USA – Banking & Finance, New York
IFLR1000 – Banking, United States, Highly Regarded
Education
- summa cum laude
- Dean's List
- Staff Member, Fordham Law Review
- Dean's List
- summa cum laude
Qualifications and admissions
- State of New York
- U.S. District Court, S.D. New York