Michael Chernick

Michael Chernick

Partner

Email

michael.chernick@aoshearman.com

Phone

+1 212 848 5281

Offices

New York

Links

LinkedIn

V-CARD
Michael has over 30 years of experience in the U.S. leveraged finance market, representing leading investment and commercial banks, alternative capital providers and other financial institutions in secured and unsecured lending transactions and debt capital markets transactions.
He has extensive experience in public and private leveraged and investment grade acquisition finance (including bridge financings), refinancings and recapitalizations, second-lien and asset-based lending. Michael also advises on securities, capital markets, bank finance and corporate transactions representing corporations and financial institutions in bank financings, public and private offerings and high-yield debt offerings.

Expertise

Industries

Experience

Representative matters

  • The joint book-running managers on the $775 million notes offering and the administrative agent on the $650 million incremental term loan in connection with Sealed Air’s acquisition of Liqui-Box.
  • The lenders in connection with a mega unitranche financing for the acquisition of BioAgilytix by Cinven, consisting of a term facility, a delayed draw term facility and a revolving credit facility. 
  • Lead Arrangers in connection with the $2.15 billion acquisition financing for Mavis Tire Express Services, consisting of $1.915 billion first-lien term loan facility and $200 million revolving credit facility, to finance a portion of the purchase price for the acquisition of Mavis Tire by an investor group led by BayPine, in partnership with TSG Consumer Partners. 
  • Lead Arrangers in connection with the $935 million financing for Aspect Software Parent Inc., consisting of a $610 million first-lien term loan, a $75 million revolving credit facility and a $250 million second-lien term loan, to finance the acquisition of Aspect Software and Noble Systems Corporation by ABRY Partners.
  • MUFG on a $1 billion incremental term loan facility for Buckeye Partners.
  • Intercontinental Exchange, as borrower, on a $2.4 billion term loan financing for the acquisition of Black Knight.
  • Willscot Corporation in connection with its $600 million senior secured credit facility and its $300 million offering of senior secured notes in connection with its acquisition of the North American modular space and portable storage business of Algeco Scotsman.
  • Willscot Corporation in connection with its $1.425 billion senior secured credit facility and its offering of $300 million of senior secured notes and $200 million of senior notes in connection with its acquisition of Modular Space Holdings, Inc.
  • Lead Arrangers in connection with the $1.65 billion senior secured credit facility to Parthenon Capital Partners and Bain Capital Private Equity in connection with the financing of the merger of Zelis Healthcare and RedCard Systems.
  • Environmental Resources Management Inc. in connection with its $800 million multi-currency senior secured first lien credit facilities and $200 million second lien credit facility.
  • Target Hospitality Corp. in connection with its $125 million senior secured revolving credit facility and its offering of $340 million of senior secured notes in connection with its acquisition of Target Logistics and RL Signor Holdings.
  • The Flexitallic Group on its $225 million multi-currency senior secured credit facility.
  • Lead Arrangers in connection with the $1.25 billion senior secured credit facility and $470 million offering of senior notes to finance Bain Capital’s acquisition of Blue Coat Systems, Inc.
  • Lead Arrangers in connection with the $430 million senior secured credit facility to finance New Mountain Capital’s acquisition of Zep Inc.
  • Lead Arrangers in connection with the $850 million first lien senior secured facilities and $235 million second lien facility to finance KKR’s acquisition of The Brickman Group Ltd. LLC.
  • Lead Arrangers in connection with the $590 million first lien secured credit facilities and $205 million second lien facility to finance Partners Group’s acquisition of PCI Pharma.
  • Lead Arrangers in connection with the $750 million senior notes offering by Dynegy Inc. in connection with its acquisition of Elwood Energy LLC.
  • Lead Arrangers in connection with the $5.1 billion senior notes offering by Dynegy Inc. in connection with its acquisition of Duke Energy Corporation and certain assets of EquiPower Resources Corp.
  • Smithfield Foods in connection with its $900 million senior notes offering in connection with its acquisition by Shuanghui International Holdings. 
  • Smithfield Foods in connection with its $1.4 billion offering of senior secured notes.
  • Dole Food Company in connection with its $300 million offering of senior notes in connection with a going private transaction. 
  • Lead Arrangers in connection with the $2.25 billion senior secured credit facility to Acosta, Inc. in connection with its acquisition by The Carlyle Group.
  • Lead Arranger in connection with the $315 million senior secured credit facility borrowed by Sundial Inc.
  • Lead Arrangers in connection with the $100 million asset based secured credit facility and offering of $670 million of senior secured notes to finance Bain Capital’s acquisition of American Trailer Works, Inc.
  • Lead Arrangers in connection the first lien and second lien credit facilities to finance Odyssey Investment Partner’s acquisition of Integro Ltd.
  • Lead Arrangers in connection with refinancing by Coyote Logistics consisting of its $100 million asset-based revolving facility and $360 million term loan facility.
  • Carter’s Inc. in connection with its $500 million multi-currency secured credit facility.
  • Lead Arrangers in connection with the offering by Media General Inc. of $400 million of senior notes in connection with Media General’s acquisition of LIN Television.
  • TierPoint Inc. in connection with its first lien and second lien credit facilities to finance various acquisitions.

Published Work

  • Chernick, Michael; Mastoras, Thomas (2023) “Getting the Deal Through: Loans & Secured Financing 2024 Global Overview”, London: Lexology
  • Chernick, Michael; Mastoras, Thomas (2023) “Getting the Deal Through: Loans & Secured Financing 2024 USA Chapter”, London: Lexology
  • Chernick, Michael; O’Sullivan, Maura; Shah, Shameer; Dogra, Shawn (2023) “Introduction”, London: 2023 Chambers Banking & Finance Global Practice Guide
  • Chernick, Michael; O’Sullivan, Maura; Coelho, Sara; Oliver, Frank; Wieslander, Magnus; Wolszczak, Greg (2023) “USA: Law & Practice”, London: 2023 Chambers Banking & Finance Global Practice Guide
  • Chernick, Michael (2022) “Getting the Deal Through: Loans & Secured Financing 2022 Global Overview”, London: Lexology
  • Chernick, Michael (2022) “Getting the Deal Through: Loans & Secured Financing 2022 USA Chapter”, London: Lexology

Speaking Engagements

Panelist, Current Trends in Direct Lending, Refinitiv LPC’s Spring 2022 Loans Virtual Conference, March 2022

Recognition

“Michael is outstanding, he has so much experience and pays great attention to detail.”
Chambers USA, 2023
“He’s a strong lawyer - he’s very smart and committed to completing deals.”
Chambers USA, 2023

Awards

  • Recommended lawyer, Legal500, 2023
  • Notable practitioner, IFLR1000, 2023
  • Ranked lawyer, Chambers USA, 2023

Qualifications

Admissions

New York State (First Dept), 1991

Academic

B.A., Economics and Psychology, Emory University, 1987
J.D., Cornell University, 1990

Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.