Brian D. Trudgen
BIPC Logo

Brian D. Trudgen

Shareholder

Pittsburgh, PA
Washington, DC
 
 

Brian Trudgen is the chair of Buchanan Ingersoll & Rooney's Banking and Finance Practice and he is a member of the firm's Strategic Planning Committee and the Pittsburgh Office Steering Committee. Brian is a former chair of the firm’s Billing and Collections Committee.

Brian regularly represents leading banks in leveraged finance transactions, including many sponsor-driven transactions. He has significant experience representing arrangers in bank financings in the context of recapitalizations, refinancings, restructurings and acquisitions and has a broad range of experience in both U.S. and international transactions. Additionally, Brian has substantial experience representing leasing companies in connection with equipment lease and lease portfolio transactions. Brian also represents several companies as borrowers in connection with their secured credit facilities.

Brian also has a broad range of experience in the financing of varied types of assets, such as aircraft, vessels, railcars, federal government receivables, titled equipment and financial instruments, as well as credit facilities guaranteed by the Export-Import Bank of the United States.

Brian is a frequent presenter on capital markets and secured lending matters at continuing legal education and client training programs and was recognized as a member of the Pennsylvania Super Lawyers® Rising Stars list in 2012.

Representative Experience

Multi-Lender Credit Facilities

  • Served as counsel to the borrower and guarantors in connection with $1.6 billion in senior secured credit facilities for a publically traded multinational hospitality company, the proceeds of which were used to refinance existing indebtedness and for working capital.
  • Served as counsel to the administrative agent and lead arranger in connection with a $1.6 billion unsecured credit facility for a publically traded manufacturing company borrower, the proceeds of which were used to refinance existing indebtedness and for working capital.
  • Served as counsel to the administrative agent and lead arranger in connection with an $130 million asset based credit facility for a publically traded manufacturing company borrower, the proceeds of which were used to refinance existing indebtedness and for working capital. The credit facility included US, Canadian, French and English tranches of debt with obligors and collateral in those jurisdictions.
  • Served as counsel to the administrative agent and lead arranger in connection with an $800 million credit facility for a public company borrower, the proceeds of which were used to refinance existing indebtedness and to financing the acquisition of a group of companies in the wood treatment industry. The obligations under the credit facility were secured equally and ratably with the company's outstanding notes pursuant to the terms of a collateral trust agreement.
  • Served as counsel to the administrative agent and lead arranger in connection with a $200 million unsecured credit facility for a public company borrower in the railroad and transportation industries.
  • Served as counsel to the administrative agent and lead arranger in connection with $120 million in senior secured credit facilities, including a tranche of $50 million in economic development revenue bonds, for a privately held company in the meat packing industry.
  • Served as counsel to the administrative agent and lead arranger in a $335 million asset-based credit facility for a national petroleum company.
  • Served as counsel to the administrative agent and lead arranger in connection with a $202 million senior secured credit facility to finance the acquisition of the stock of a specialty metals company. The credit facility also involved the merger of the acquired company into the borrower, as well as the negotiation of a subordination agreement with third party lenders who helped to finance the acquisition.
  • Served as counsel to the administrative agent and lead arranger with respect to a $400 million unsecured credit facility provided to an investment grade, public company borrower.
  • Served as counsel to the administrative agent and lead arranger with respect to a $400 million senior secured credit facility provided to a vertically integrated, global vision company and 35 of its domestic subsidiaries. The credit facility was guaranteed by the borrower's non-profit insurance company parent, which implicated various regulatory issues in the structuring and documentation of the guaranty agreement.
  • Served as counsel to the administrative agent and lead arranger with respect to approximately $160 million in senior secured credit facilities consisting of first lien, second lien and fully subordinated tranches of debt for a specialized manufacturing company with U.S. and Canadian operations.
  • Served as counsel to the administrative agent, collateral agent, sole lead arranger and sole bookrunner with respect to an $85 million revolving credit facility with a $25 million export-related subfacility, which is guaranteed by the Export-Import Bank of the United States under a fast-track working capital guaranty program for a global specialty chemicals company. The credit facilities are secured by first/second priority liens in all of the company's domestic assets with inverse first/second priority liens granted in connection with a simultaneous high-yield debt offering (wrap collateral structure).

Single-Lender Credit Facilities

  • Served as counsel to a bank with respect to the issuance of an $80 million letter of credit used to provide credit enhancement and liquidity support for certain industrial development bonds. The facility is secured by a gross revenue pledge of the members of the obligated group under two separate master indentures.
  • Served as counsel to a financial institution in connection with a $100 million term loan made to a processing company the proceeds of which were used to refinance a tranche of notes issued pursuant to senior notes offering.
  • Served as counsel to a financial institution in connection with a $90 million credit facility which included a $50 million revolving credit facility and a $40 million term loan facility for a holding company that owns and operates various equipment manufacturers and a marine transportation provider.
  • Served as counsel to a financial institution in connection with the structuring, documentation and negotiation of a $10 million secured term loan facility provided to a municipal authority in connection with the transfer of the ownership of certain facilities from a private management company to such municipal authority in which such private company continued in its role as the manager of such facilities. The credit facility is secured by a pledge of such transferred assets. In addition, the structuring of the financing arrangements required the resolution of a number of issues that are unique to the context of a public-private partnership, including those related to the municipal authority's power to enter into the public-private partnership with the management company as well as issues related to the authority's acquisition of and granting security interests in assets.
  • Served as counsel to a private equity firm in connection with the purchase of senior subordinated notes used to fund a portion of the acquisition consideration for the leveraged buy-out of a services company.
  • Served as counsel to the lender in connection with a $75 million senior secured credit facility to finance the acquisition of the assets of a deep water petroleum terminal. The credit facility is secured by liens on all of the assets of the loan parties, including a federally-registered vessel. The transaction involved a number of complex environmental and permitting issues.
  • Served as counsel to the lender in connection with secured bank-qualified and non-bank qualified credit facilities for a private, non-profit assisted living facility operator, the proceeds of which were used to refinance existing indebtedness and for providing working capital.

Leasing Matters

  • Served as counsel to a leasing company in connection with the lease of 485 specialty rail cars to be used in the U.S., Canada and Mexico.
  • Served as counsel to a national equipment leasing company with respect the purchase of an approximately $21 million portfolio of federal government equipment leases.
  • Served as counsel to the lender in connection with the funding of an aircraft lease. Such funding was collateralized by a security interest in the subject aircraft and an assignment of the funded lease.