![Image: Ismael Duran](https://images.ctfassets.net/t0ydv1wnf2mi/124604_Prof_HiRes/f050fbe01a7222815940e9d37eb6129b/124604.jpg)
Overview
Ismael Duran is a partner in the Global Finance practice at Paul Hastings and is based in the firm’s New York office. He focuses on advising investment and commercial banks, direct lenders, and other financial institutions in connection with tailored, complex lending transactions across multiple industries, including leveraged and investment grade facilities, acquisition finance, bridge facilities, asset-based lending, and other corporate financings. Admitted to practice in New York and Spain, Ismael also represents financial institutions, sponsors, and corporate borrowers in connection with financings in the Latin America region.
Ismael has represented lenders and other financial institutions in a number of acquisitions and lending transactions, including Michael Kors’s acquisitions of Versace and Jimmy Choo, II-VI’s acquisition of Coherent, Liberty Media Corporation’s agreement to acquire the exclusive right’s holder of the MotoGP World Championship, Thermo Fisher Scientific’s acquisition of Patheon N.V., and several financing transactions by Formula One Group, the iconic global motorsports business. Ismael also regularly represents lenders and borrowers in connection with the negotiation and implementation of credit facilities as they relate to Latin American clients or Latin American interests.
Education
- Columbia Law School, J.D. 2005 - Harlan Fiske Stone Scholar, Fundación Rafael del Pino Scholarship
- Universidad de Zaragoza, law degree (with honors) 1996
Representations
- Goldman Sachs as lead arranger and administrative agent in connection with Univision Communications Inc. (UCI), a wholly owned subsidiary of TelevisaUnivision, Inc.'s refinancing of US$500 million of its senior secured term 'b' loans due in 2026 (the '2026 Term Loan B').
- JPMorgan Chase Bank, N.A., as administrative agent, in connection with the repricing of Coherent Corp.'s US$2.436 billion in term B loans.
- Goldman Sachs in connection with the committed debt financing for Liberty Media Corporation's (Liberty Media) agreement to acquire Dorna Sports, S.L. (Dorna), the exclusive commercial rights holder to the MotoGP World Championship. The transaction reflects an enterprise value of €4.2 billion for Dorna and expands Liberty Media's portfolio of leading live sports and entertainment assets.
- JPMorgan, Citigroup, and Wells Fargo in providing US$2 billion of committed debt financing to APA Corporation (NASDAQ: APA) (APA) in connection with APA's acquisition of Callon Petroleum Company (NYSE: CPE) (Callon).
- Citibank, N.A. in connection with GE HealthCare Technologies Inc.'s US$1 billion 364-day credit facility.
- Expro, a global energy services provider, on the amendment and extension of its debt facilities.
- Goldman Sachs Bank USA, as lead arranger, and JPMorgan SE, as facility agent, in connection with the repricing of the US$1.7 billion Term Loan B under Formula One Group's senior secured credit facilities.
- JPMorgan Chase Bank, N.A., as administrative agent, lead arranger, and incremental lender in arranging and providing a US$750 million incremental Term Loan A financing to Microchip Technology Incorporated (NYSE: MCHP) under its existing credit facility.
- JPMorgan Chase Bank, N.A., as administrative agent, joint lead arranger, and lender in arranging and providing a US$1 billion revolving credit facility to First Solar, Inc. (NASDAQ: FSLR).
- Barclays Bank PLC in connection with Kinder Morgan, Inc.'s US$4 billion revolving credit facility.
- JPMorgan Chase Bank, N.A. and Goldman Sachs Bank USA, as lead arrangers, in connection with the refinancing of the first lien Term Loan B and first lien revolving credit facility, and the incurrence of a new Term Loan A by Formula One Group, the iconic global motorsports business. Delta Topco Limited and its subsidiaries (Formula One Group) replaced the previous US$500 million first lien revolving credit facility with a new US$500 million revolving credit facility, with extended maturity, and replaced the previous US$2.902 billion first lien Term Loan B with a new first lien Term Loan A of US$725 million, and a refinanced Term Loan B of US$1.7 billion.
- The lenders in connection with Garden SpinCo Corporation's (SpinCo) US$650 million term loan facility and US$150 million revolving credit facility. SpinCo is a wholly owned subsidiary of 3M Company (3M). Goldman Sachs & Co. LLC and JPMorgan Securities LLC, acted as initial purchasers, as well as the selling securityholder, in connection with a 144A/Regulation S offering of US$350 million aggregate principal amount of 8.625% Senior Notes, due 2030 (the Notes), by SpinCo. The Notes were offered as part of the financing for the proposed combination of the Food Safety Business of 3M with Neogen Corporation (Neogen) in a Reverse Morris Trust transaction. The Notes were initially issued by SpinCo to 3M and transferred and delivered by 3M to the selling securityholder, in satisfaction of certain of 3M's existing debt. SpinCo did not receive any proceeds from the sale of the Notes by the selling securityholder.
- The lead arrangers in connection with a US$1.5 billion revolving credit facility for Capri Holdings Limited and Michael Kors (USA), Inc.
- The Travelers Companies, Inc. in connection with its $1 billion revolving credit facility.
- Representation of Bank of America in their role as administrative agent and lead arranger, and the other lead arrangers party thereto, to Thermo Fisher's US$5 billion unsecured revolving credit facility that refinanced and upsized its existing revolving credit facility.
- JPMorgan Chase Bank, N.A., as administrative agent, in connection with an amendment to, and restatement of, Microchip Technology, Inc.'s existing credit agreement.
- JPMorgan Chase Bank, N.A. and Goldman Sachs Bank, USA in connection with senior secured bridge term loans in an amount up to US$1 billion for Garden Spinco Corporation (Spinco), a wholly owned subsidiary of 3M Company (3M), in connection with 3M's announced spin-off of its Food Safety business and Spinco's combination with Neogen Corporation (Neogen).
- Citigroup Global Markets Inc. as financial advisor and debt finance provider to Vertiv Holdings Co (NYSE: VRT) (Vertiv) in connection with Vertiv's acquisition of E&I Engineering Ireland Limited and its affiliate, Powerbar Gulf LLC (E&I).
- The administrative agent and the lenders in connection with a new US$3.5 billion revolving credit facility for Kinder Morgan, Inc. (NYSE: KMI) and an amendment to Kinder Morgan's existing revolving facility. Proceeds from the financings will be used for the company's working capital needs and for other general corporate purposes, including the repayment of existing debt.
- JPMorgan Chase Bank, N.A., as administrative agent, in connection with Tenable, Inc.'s US$425 million credit agreement, comprising, among other things, (i) a US$375 million senior secured term loan facility and (ii) a US$50 million senior secured revolving credit facility.
- JPMorgan Chase Bank, N.A., as administrative agent, in connection with an amendment to Lions Gate Capital Holdings LLC's (Lions Gate) credit agreement and an extension of the maturity dates of its term loan A and revolving credit facilities. Lions Gate extended the maturity for approximately US$445 million of the term loan A facility and US$1.25 million of the revolving credit facility to April 6, 2026.
- JPMorgan Chase Bank, N.A. in US$5.425 billion of committed financing in connection with II-VI Incorporated's acquisition of Coherent, Inc. II-VI used the net proceeds of the debt financing to finance the cash consideration of the transaction, and for general corporate purposes. In addition to proceeds from the debt financing, II-VI financed the merger with cash on hand from the combined company balance sheets and proceeds from the issuance of new II-VI convertible preferred stock, and common stock.
- JPMorgan Chase Bank, N.A. and Credit Suisse Securities (USA) LLC in providing committed financing for Cable One, Inc.'s (Cable One) acquisition of Hargray Acquisition Holdings, LLC (Hargray), including a senior unsecured bridge facility in an aggregate principal amount of US$900 million.
- Bank of America, N.A. as administrative agent and lead arranger, and the other lead arrangers party thereto, in connection with the refinancing of Thermo Fisher Scientific Inc.'s US$3 billion revolving credit facility that closed on December 4, 2020. The proceeds of the revolving credit facility are available to repay all obligations under Thermo Fisher's existing credit agreement, for working capital, and for other general corporate purposes.
- JPMorgan Chase Bank, N.A. and Banco Latinoamericano de Comercio Exterior, S.A., as joint lead arrangers, in connection with the acquisition financing for Imperia Intercontinental Inc.'s acquisition of Scotiabank's banking and insurance business in El Salvador, including Scotiabank El Salvador and Scotia Seguros.
- Blackstone in its acquisition of Stearns Holdings, LLC as part of the comprehensive financial restructuring plan agreed to between Stearns and funds affiliated with Blackstone. Stearns' restructuring plan was confirmed by the Bankruptcy Court for the Southern District of New York on October 24, 2019. Stearns emerged from Chapter 11 bankruptcy on November 5, 2019. The plan, with support from Blackstone, has enabled Stearns to significantly reduce its outstanding debt, continue operations and preserve the jobs of its employees, and has positioned the company for long-term success.
- JPMorgan Chase Bank, N.A., as Administrative Agent and Arranger, in connection with Axip's amended and restated US$250 million revolving credit agreement.
- Hokchi Energy, S.A. de C.V. (Hokchi) in connection with the term loans to be provided by JPMorgan Chase Bank, N.A., BNP PARIBAS, Banco Nacional de México S.A., integrante del Grupo Financiero Banamex, HSBC México, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC, and Natixis, New York Branch, of up to US$290 million. The term loans are guaranteed by Pan American Energy, S.L. Hokchi will use the net proceeds from the term loans to, among other things, finance expenditures related to the onshore and offshore infrastructure and facilities for the development of the oil and gas that Hokchi Block located in Mexico.
- Barclays Bank PLC in connection with the bridge financing for Boston Scientific Corporation to finance its acquisition of BTG plc.
- Barclays Bank PLC, as administrative agent, in Kinder Morgan, Inc.'s (a) US$4 billion revolving credit agreement (the 5-year credit facility) and (b) US$500 million revolving credit agreement (the 364-day credit facility). These credit facilities replaced the US$4 billion revolving facility, set forth in the prior credit agreement dated as of September 19, 2014, and amended as of January 26, 2016, which was repaid and terminated.
- JPMorgan Chase Bank, N.A. and Barclays Bank PLC as lead arrangers in connection with the US$1.6 billion term loan facility and US$1 billion revolving credit facility used to finance Michael Kors (USA), Inc.'s acquisition of Gianni Versace S.p.A. for a total enterprise value of €1.83 billion.
- Morgan Stanley Senior Funding, Inc., as lead arranger and bookrunner, in connection with a US$800 million senior unsecured term loan credit agreement for Brunswick Corporation to finance Brunswick's acquisition of Power Products - Global Marine & Mobile business, effectuate a refinancing of Power Product's outstanding credit facilities, and pay fees and expenses in connection with the foregoing.
- Grupo Cinemex and its subsidiaries in connection with the financing for the acquisition of the assets of Cobb Theaters LLC and its affiliates located in Florida. The financing was completed on March 23, 2018.
- JPMorgan Chase Bank, N.A., as administrative agent, in connection with Lions Gate's US$3.5 billion senior secured revolving and term loan credit facilities. The credit agreement facilities closed on March 22, 2018.
- JPMorgan Chase Bank, N.A. in connection with an aggregate US$3.8 billion revolving facility and a US$3 billion term loan facility for Microchip Technology. Microchip Technology used the proceeds from the notes offering and the credit facilities to finance, in part, the US$10.15 billion acquisition of Microsemi Corporation and related refinancing transactions.
- Citibank, JPMorgan and Credit Suisse in connection with a US$1 billion secured bridge loan financing to Eckerd Perú S.A. (Inkafarma). The loan proceeds were used to finance the acquisition of Quicorp S.A.
- JPMorgan Chase Bank, N.A., as lead arranger, and JPMorgan Europe Limited, as facility agent, in connection with the refinancing of the US$3.3 billion term loan under Formula One Group's senior secured credit facilities.
- The arrangers in connection with a US$1 billion revolving facility and an aggregate US$1 billion term loan facility for Michael Kors Holdings Limited and certain of its subsidiaries.
- JPMorgan Europe Limited, JPMorgan Chase Bank N.A. and Goldman Sachs Bank USA in connection with the £1.115 billion bridge financing for Michael Kors (USA), Inc. and Michael Kors Holdings Limited, related to the announced acquisition of Jimmy Choo PLC.
- Representation of Goldman Sachs Bank USA and Goldman Sachs Lending Partners LLC in connection with a bridge financing to Thermo Fisher Scientific Inc. in its acquisition of Patheon N.V. for approximately US$7.3 billion (including the assumption of debt). The proceeds of the bridge facility were used to finance the acquisition, to repay certain indebtedness of Patheon, and to pay fees and expenses related thereto.
- Barclays Bank PLC, JPMorgan Chase Bank, N.A., and the lenders in connection with a US$1.25 billion revolving credit facility for Trinity Acquisition plc, a subsidiary of Willis Towers Watson Public Limited Company. The proceeds of the revolving credit facility are available to refinance existing debt and for working capital, capital expenditures, permitted acquisitions and other general corporate purposes. Barclays is the administrative agent for the facility.
- JPMorgan Chase Bank, N.A., as administrative agent, joint lead arranger, and joint bookrunner, in connection with amended and restated senior unsecured credit facilities for Signet Jewelers Limited, which consist of a US$357.5 million term loan facility and a US$700 million revolving credit facility.
- JPMorgan Chase Bank, N.A., Bank of America, N.A., and Deutsche Bank AG in connection with committed financing to Lions Gate Entertainment Corp. related to its acquisition of Starz, in a US$4.4 billion cash and stock transaction.
- Representation of CIBC, Scotiabank, JPMorgan, and Wells Fargo in connection with a US$1.6 billion committed bridge facility for Algonquin Power & Utilities Corp. to finance its acquisition of The Empire District Electric Company.
- Barclays Bank PLC and the lenders in connection with a US$1 billion term loan facility for Kinder Morgan, Inc. and a US$1 billion incremental expansion of Kinder Morgan's existing revolving facility. Proceeds from the financings will be used for the company's working capital needs and for other general corporate purposes, including the repayment of existing debt.
- JPMorgan Securities LLC, Barclays Bank PLC, BNP Paribas Securities Corp., Crédit Agricole Corporate and Investment Bank, Deutsche Bank Securities Inc., Royal Bank of Canada, Société Générale, TD Securities (USA) LLC, and The Bank of Nova Scotia as joint lead arrangers and joint bookrunners of a new US$2 billion revolving credit facility and a new US$3.8 billion term loan facility for Neptune Finco Corp in connection with Altice N.V.'s acquisition of Cablevision Systems Corporation.
- Barclays Bank PLC in connection with US$5 billion of committed bridge financing related to Kinder Morgan, Inc.'s acquisition of (i) all of the outstanding units of Kinder Morgan Energy Partners, L.P., (ii) all of the outstanding shares of Kinder Morgan Management, LLC and (iii) all of the outstanding units of El Paso Pipeline Partners, L.P., in each case not already owned by KMI. The combined Kinder Morgan entities own an interest in or operate approximately 80,000 miles of pipelines and 180 terminals.
- JPMorgan Securities LLC, as lead arranger, and JPMorgan Chase Bank, N.A., as administrative agent, in connection with the refinancing of Realogy Group LLC's senior secured credit facilities. Realogy Group LLC's amended and restated credit facilities are comprised of US$1.920 billion aggregate principal amount of term loans and a US$475 million revolving credit facility.
- Barclays Capital in connection with US$3 billion in bridge financing to Thermo Fisher Scientific Inc. and as financial advisor to Thermo Fisher in its €2.47 billion acquisition of Phadia, a portfolio company of Cinven Limited.
- JPMorgan Securities LLC and Barclays Bank PLC in connection with US$12.5 billion in bridge financing to Thermo Fisher Scientific Inc. related to its acquisition of Life Technologies Corporation.
- JPMorgan and Deutsche Bank as lead arrangers and lenders in connection with US$4.15 billion of senior secured credit facilities to finance the acquisition and refinance existing debt of Universal Health Services, Inc. and Psychiatric Solutions, Inc., comprised of (i) a US$500 million "tranche A" term loan facility, (ii) a $2,850 million "tranche B" term loan facility, and (iii) a $800 million revolving credit facility.
- The lenders and initial purchasers, including JPMorgan and Morgan Stanley & Co. Inc., in connection with the financing related to Postmedia Network's US$1.1 billion acquisition of the newspaper publishing business of Canwest LP (owner of newspapers such as the National Post, Ottawa Citizen and Montreal Gazette).
- Royal Bank of Canada, Deutsche Bank, HSBC Bank, and Toronto-Dominion Bank, as arrangers in connection with US$1.6 billion of financing related to the acquisition of Grey Wolf, Inc. by Precision Drilling Trust.
Matters may have been handled prior to joining Paul Hastings.