Frederick F. "Rick" Eisenbiegler

Prior to joining Morgan Lewis, Rick was a partner in another international law firm, where he led the firm’s transactional finance group and banking and leveraged finance group.

New Money Debt Financings
Senior Secured “Unitranche” Financings

• Represented Ares Capital Corporation as sole agent, arranger and lender, in $385 million senior secured unitranche credit facilities for a leading provider of safety and security equipment for the commercial aviation, aerospace, defense and ground transportation industries. The credit facilities were used to refinance existing senior and subordinated indebtedness and providing additional credit support for future acquisitions and working capital needs. The equity sponsors were Berkshire Partners and Greenbriar Equity Group.
• Represented Ares Capital Corporation, as administrative agent and co-lead arranger, and General Electric Capital Corporation, as revolving agent and co-lead arranger, in $213.75 million unitranche senior secured credit facility used in part to finance the acquisition of a dental practice management company. The financing was provided by the Senior Secured Loan Fund, which is jointly managed by affiliates of Ares Capital and GE Capital. The equity sponsor was OMERS Private Equity.
• Represented Ares Capital Corporation and General Electric Capital Corporation, as sole agents, in $212 million unitranche senior secured credit facility that recapitalized a leading for-profit post-secondary education provider in Puerto Rico and a growing for-profit Hispanic-focused education provider in Florida. The financing was provided by the Senior Secured Loan Fund, which is jointly managed by affiliates of GE Capital and Ares Capital Corporation. The equity sponsor was Leeds Equity Partners.
• Represented General Electric Capital Corporation, as administrative agent and co-lead arranger, and Ares Capital Corporation, as documentation agent and co-lead arranger, in connection with $170 million Revolving and Term Credit Facility to a provider of lectures on tape for adult education and life-long learning.
• Represented General Electric Capital Corporation, as administrative agent, in connection with $145 million senior secured credit facilities financed the acquisition of an industry leading on-site facilities management services and electronic document discovery provider. Harvest Partners was the sponsor.
• Represented Ares Capital Corporation, as sole agent and arranger, in $137.5 million senior secured unitranche credit facilities that financed the acquisition of a managed healthcare company. HIG was the sponsor.
• Represented Jefferies Finance LLC, as arranger, book runner, administrative agent and collateral agent, in connection with $120 million senior secured credit facilities for Maritime Telecommunications Network, Inc., a satellite communications service provider.
• Represented General Electric Capital Corporation, as revolver agent and administrative agent, and GE Capital Markets, Inc. and Ares Capital Corporation, as lead arrangers and bookrunners, in $92 million to an auction and remarketing services in the powersports industry.
• Represented Ares Capital Corporation, as sole administrative and collateral agent and as co-lead arranger and bookrunner, in $82.5 million senior secured unitranche credit facilities for a for-profit post-secondary education platform company. The financing was used to acquire a nursing school. The equity sponsor was Excellere Capital Management.
• Represented Ares Capital Corporation, as sole agent and arranger, in $72.25 million second lien term loan facility used to recapitalize an operator of restaurants, bars, food courts, eateries, gourmet markets and airport cafés throughout the United States.
• Represented Ares Capital Corporation, as administrative agent, collateral agent, lead arranger, bookrunner and lender, in $70 million senior secured unitranche credit facilities and $131 million investment in preferred units, for a company that manages for profit law schools. The equity sponsor was Sterling Fund Management.
• Represented Ares Capital Corporation, as lead arranger and collateral agent, in $65 million senior secured unitranche credit facilities that financed the acquisition of various over-the-counter consumer healthcare brands (including Efferdent, Ludens and Pedia Care). The equity sponsor was Charlesbank Equity Fund VII.
• Represented Ares Capital Corporation, as lead arranger, administrative agent, and collateral agent, in $57.5 million senior secured unitranche credit facilities for an over-the-counter healthcare company. HIG was the equity sponsor.
• Represented Ares Capital Corporation, as lead arranger and syndication agent, and Citizens Bank, as administrative agent, in $50 million senior secured unitranche credit facilities that recapitalized an information consulting services company. Snow Phipps was sponsor.

Second Lien Financings

• Represented Ares Capital Corporation as collateral agent, lead arranger, bookrunner and lender, in $130 million second lien term loan to a company that provides reentry treatment and education services for adult correctional populations throughout the United States.
• Represented Ares Capital Corporation, as agent and sole lead arranger and bookrunner, in $105 million second lien term loan facility used to refinance existing mezzanine notes issued by the borrower, an operator of coin-operated laundry equipment. The equity sponsor was Code Hennessey.
• Represented Ares Capital Corporation, as sole agent and arranger, in $72.25 million second lien term loan facility that was used to recapitalize an operator of restaurants, bars, food courts, eateries, gourmet markets and cafés at airports throughout the United States.
• Represented Ares Capital Corporation (i) as administrative agent in $60 million senior subordinated second lien loan facility and (ii) as administrative agent in $25 million senior subordinated unsecured loan facility, for a leading provider of portable storage and moving solutions for residential and business customers. The equity sponsor was Arcapita, Inc. The debt financing was structured to be Shari'ah compliant.

Mezzanine Financings

• Represented Ares Capital Corporation, as sole agent, arranger and investor, in $105 million mezzanine acquisition financing for a leading provider of software services for health and human services organizations. The equity sponsor was Genstar Capital.
• Represented Ares Capital Corporation, as sole agent and arranger, in $71.5 million senior subordinated loan facility for a senior care services platform company. The subordinated loan facility refinanced outstanding debt and financed an add-on acquisition of a home healthcare services company. The equity sponsor was Genstar Capital Partners.
• Represented Ares Capital Corporation, as sole agent and lead arranger, in $54 million mezzanine financing for a managed care healthcare company. Apax Partners was the sponsor.
• Represented Gleacher Mezzanine Fund II, L.P., as lead investor, in connection with $50 million mezzanine financing facility for Driven Brands, Inc., the parent company of Maaco Franchising, Meineke Car Care Centers and other auto franchise systems. The equity sponsor was Carousel Capital.
• Represented Gleacher Mezzanine Fund II, L.P., as lead investor, in $32 million mezzanine financing for TIDI Products, LLC, a leading manufacturer of infection protection products for medical and dental markets. The mezzanine facility financed add-on acquisitions of Timely Medical Innovations, LLC and MyDent International Corp. The Equity sponsor was Beeken, Petty, O’Keefe & Co.
• Represented JPM Mezzanine Capital, as lead investor, in $30 million senior subordinated loan for Cyanco, a chemical manufacturer. Oak Tree Capital was sponsor.
• Represented Arrowhead Mezzanine LLC, as arranger, and Gleacher Mezzanine Fund II, L.P., as lead investor, in connection with $22.5 million mezzanine acquisition financing for Training Enterprises, Inc., the parent company of Crisis Preventions Institute, Inc. (“CPI”). CPI provides crisis prevention, nonviolent physical intervention, and dementia care training. The equity sponsor was Brockway Moran.
• Represented Gleacher Mezzanine Fund II, L.P., as lead investor, in $18.4 million mezzanine acquisition financing for Papa Murphy’s International, Inc., the fifth-largest pizza chain in the country. The equity sponsor was Lee Equity.
• Represented Gleacher Mezzanine Fund II, L.P., as lead investor, in $18 million mezzanine acquisition financing for Multi Packaging Solutions, Inc., a full service print and packaging supplier.
• Represented Gleacher Mezzanine Fund II, L.P., as lead investor, in $13.5 million mezzanine acquisition financing for Wingstop Restaurants, Inc., a restaurant franchise with 600 locations across the U.S. The equity sponsor was Roark Capital Group.

Workouts, Restructurings, Bankruptcies, DIP Financings and Exit Financings

• Precision Partners First Lien Lender Group: Represented York Capital, Oppenheimer Funds, Jefferies Finance, CIT, Redwood Capital and GE, as lenders holding a majority in principal amount of $216 million first lien credit facility for Precision Partners Holding Company in connection with workout and restructuring arrangements. Precision Partners is a global manufacturing and engineering services company. The restructuring resulted in the conversion of the entire second lien credit facility into equity in the restructured company.
• Molecular Insight Pharmaceuticals Bondholder Group: Represented Highland Capital, Morgan Stanley, QVT, Taconic Capital, McDonald Investment Management, Pioneer Investment Management and other holders of a majority in principal amount of $200 million senior secured bonds of Molecular Insight Pharmaceuticals (MIPI) in connection with workout and restructuring arrangements. The restructuring resulted in bondholders acquiring control of and substantially all of the equity in the restructured company. Bingham also represented bondholders in connection with $10 million senior secured priming debtor-in-possession credit facility for MIPI and $40 million senior secured exit credit facility for the restructured company. MIPI is a global clinical-stage biopharmaceutical company and a pioneer in the emerging field of molecular medicine.
• Biopharmaceuticals Company Senior Secured Bondholder Group: Represented Highland Capital, Morgan Stanley, and other holders of over 80 percent in principal amount of $190 million senior secured bonds issued by a clinical-stage biopharmaceuticals company in connection with workout and restructuring arrangements.
• Healthcare Company Mezzanine Lender Group: Represented Ares Capital, GSO/Blackstone and Golub Capital, as lenders holding a majority in principal amount of $125 million mezzanine loans in connection with out-of-court restructuring arrangements. The borrower is a healthcare company that operates dialysis/renal centers.
• TLC Senior Secured Lender Group: Represented Highland Capital, GSO/Blackstone, and other holders of a majority in principal amount of approximately $100 million senior secured credit facilities for TLC Vision Corporation in workout and restructuring arrangements, including pre-arranged bankruptcy proceedings. Also represented Cantor Fitzgerald, as agent, in $15 million DIP financing for TLC in the bankruptcy proceedings.
• Mezzanine Lender Group: Represented Ares Capital, GSO Capital Partners and Spring Limited, as holders of more than 90 percent in principal amount of $100 million subordinated loan facility for a foreclosure services company in connection with the workout and restructuring arrangements. The equity sponsor was Great Hill Partners.