Banking & Finance
Banking & Finance
Asset Based Financing | Real Estate Financing | Bridge & Mezzanine Financing | Private & Public Issue Bonds | Syndicated Credit Facilities | Tax Credit Financing
Duffy & Sweeney’s Banking & Finance attorneys represent banks and other institutional lenders and business borrowers in a wide array of credit facilities from structuring through closing and beyond. We bring decades of experience and special expertise with a reputation for precision and problem-solving.
Our team has acted as lead counsel in commercial transactions securing real and/or personal property in more than twenty states outside of Rhode Island and Massachusetts. Likewise, we regularly serve as local counsel for out-of-state lenders or borrowers in Rhode Island and Massachusetts. We routinely handle real estate secured facilities involving acquisition, development and refinancing as well as asset-based working capital lines of credit.
Beyond conventional transactions, we’ve developed expertise in specialty areas such as project financings, and government contractor and healthcare provider financings. We understand the purchase and credit enhancement of private and public issue bonds. We are in the forefront of landmark revitalizations including historic and affordable housing tax credit transactions.
We advance the international business objectives of our clients via letters of credit, foreign exchange and international trade finance facilities.
We offer the knowledge and know-how to accommodate limited recourse and non-recourse transactions, syndicated and participated deals, mezzanine and bridge financings, rate and currency swaps and other hedge product transactions.
Our capabilities extend to all kinds of collateral including those with distinctive requirements that span patents, trademarks and copyrights; securities; aircrafts and documented vessels; government contracts and Medicare/Medicaid receivables.
Our office is based on South Main Street in Providence, Rhode Island in the rapidly developing waterfront / I-195 region, connecting the East Side to Downtown and the Knowledge District. Contact us at 401.455.0700.
- Represented a Massachusetts non-profit corporation in connection with securing Massachusetts Development Finance Agency Revenue Bonds and other financing in the amount of $7,700,000 to purchase a building and renovate it as a new school for children with autism in Marlborough, Massachusetts.
- Served as counsel to a tax credit syndication firm closing on over $150,000,000 of state issued incentives in over six different states in the last year, including, historic tax credits, low income housing tax credits, Brownfields credits and film credits.
- Completed a $6 million vessel construction financing on behalf of a major bank for a successful city port area plus $10.5 million escrow administration of Transportation Investments Generating Economic Recovery Grant II (“TIGER Grant II”) in a complete 2015 re-documentation of the 2012 transaction.
- Completed a $45 million loan plus bond financing to finance hospital projects for an award-winning Rhode Island healthcare institution.
- Completed a $27 million loan plus financing on behalf of a major bank for a leading private school’s expansion and renovations.
- Represented a software development and services provider for commercial and industrial environments in the 2014 sale of substantially all of the assets of the company in a transaction that included sophisticated tax planning and carryover investment in the new entity by management.
- Helped a leading packaging company, based in RI and doing business worldwide, in a corporate reorganization involving redemption and equity investment using senior and mezzanine loans with several major banks. The multi-million deal, which was completed in 30 days, involved novel and intricate structuring of simultaneous redemptions, equity considerations and real estate sale-leaseback plus a multi-million dollar senior and subordinated financings including negotiation of complex inter-creditor issues and coordination of several legal teams in a tight timeframe.
- Represented a major financial institution who was the first mortgagee in the state receivership proceeding and sale of a substantial mill building project developed with both federal and state historic tax credits where the location was occupied by a prominent state-wide non-profit organization. The firm helped the non-profit purchase the real estate out of receivership along with several condominium units that were part of the redevelopment project.
- Spearheaded a joint venture at a waterfront development in Mount Hope Bay to create additional units involving equity raising, financing and construction contracts. The project gained media attention over litigation in the construction process prior to the firm’s legal work to further development in the joint venture.
- Represented the manufacturer of luxury quality linens and a major employer in Southeast Massachusetts in the Massachusetts Development Agency Industrial Revenue Bond issuance for a construction project. The related transaction involved a real estate swap, reciprocal easement agreements and several complicating factors requiring delicate negotiation.
- Represented a leading financial institution in a multi-million dollar deal relating to a family owned and operated hospitality management firm with accounts in nine states. The deal involved multiple subsidiaries and real estate sites including several mortgage documents and complicated landlord/tenant issues and inter-creditor agreements.
- Represented the lender in a federal historic tax credit financing for a 650,000-square-foot renovation and conversion of multiple mill buildings into mixed-use space. The formerly underused property today houses a creative community with an eclectic mix of artists and entrepreneurs in one of the largest mill restoration projects in RI.
- Represented the lender in a federal historic tax credit financing that resulted in the transformation of a landmark, historic Rhode Island industrial facility into a residential multi-family complex of 150 apartment units convertible to condominiums.
- Served as counsel for the financing of a major mill refurbishment, securing federal and state historic tax credits and structuring financing in the amount of $40 million for expansion and development. The location features 60,000 square feet of office space and 8,500 square feet of retail space plus high-end loft apartments, all with abundant parking, and modern amenities.
- Served as counsel for a Rhode Island based manufacturing company in a debt restructuring which included negotiating with senior lenders, refinancing of approximately $3,000,000 of senior debt and conversion of approximately $2,000,000 of mezzanine debt into preferred equity.