Apr 28, 2014
Cadwalader, Wickersham & Taft LLP, a counselor to corporations and financial institutions, advised a leading global financial institution on its recent $200 million, tranched, multi-currency revolving loan facility to an affiliate of Callidus Capital Corporation. The facility become effective concurrently with a restructuring of Callidus’ existing term debt and an initial public offering of 18,000,000 common shares of Callidus at a price of $14.00 per common share for aggregate gross proceeds of $252 million.
The Cadwalader team was led by partner Joseph Beach and included associates Nathan Spanheimer and Danielle Katz. In addition to drafting the financing documentation, Cadwalader coordinated and prepared the documentation for the intercreditor and subordination arrangements among Callidus’ debt providers. Cadwalader also advised the institution on a wide range of complex issues arising due to the multiple jurisdictions involved in the transaction.
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Robert Cannon will discuss the U.K.’s new insurance-linked securities framework.