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Clients rely on our Finance Group to help them navigate the business and legal complexities of novel and multi-dimensional debt financing transactions. Our versatile finance practitioners work closely with our mergers and acquisitions, securities, tax, real estate and bankruptcy lawyers to provide seamless advice and innovative solutions that address our clients' debt financing needs related to all types of transactions and capital structures.

Paul, Weiss Represents Guggenheim Securities in Whole-Business Securitization

Paul, Weiss represented Guggenheim Securities as initial purchaser in connection with DineEquity, Inc.'s $1.3 billion whole-business securitization of its Applebee's and IHOP restaurant chains (closed September 30, 2014). Applebee's Funding, LLC and IHOP Funding, LLC issued securitization notes (due September 2044 and rated BBB by Standard & Poor's Rating Services), which, among other things, enabled the company to refinance its existing debt.  Notable legal issues of interest included (i) navigating license and franchising arrangements with various franchisors, (ii) obtaining landlord consents, (iii) excluding assets from all foreign and company-owned Applebee's-branded and IHOP-branded restaurants from the securitization and (iv) drafting disclosure related to the foregoing.

The securitization attorney was Jordan Yarett; the intellectual property attorney was Claudine Meredith-Goujon; the securities attorney was Lawrence Wee; the ERISA attorney was Robert Fleder; the tax attorney was Richard Bronstein; the bankruptcy attorney was Douglas Davis; and the real estate attorney was Peter Fisch.

October 7, 2014

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