ProfessionalsMikhel Schecter
Tel: +1-212-373-3815
Fax: +1-646-786-3706
mschecter@paulweiss.com
1285 Avenue of the Americas
New York,
NY
10019-6064
Fax: +1-646-786-3706
A partner elect in the Corporate Department and a member of the firm’s Finance Group, Mikhel Schecter represents financial institutions, private equity sponsors and major corporations in connection with specialized finance structures as well as securitization and asset-backed finance. She regularly advises clients in connection with securitizations involving esoteric assets such as cell towers, fiber and other infrastructure, music royalties, intellectual property royalties and restaurant and other franchised business revenues.
EXPERIENCE
Some of her recent representations include:
Infrastructure Assets
- MetroNet, a telecommunications company and the largest privately-owned fiber to the premises (FTTP) platform in North America and portfolio company of Oak Hill Capital and KKR, in its securitization and numerous lending, topco and warehouse facilities, backed by MetroNet’s fiber network and infrastructure assets and customer receivables in mature neighborhoods
- Ziply Fiber, a portfolio company of WaveDivision Capital, in its inaugural securitization consisting of over $1.5 billion issuance of term notes and $400 million issuance of variable funding notes, secured by FTTP infrastructure, underlying rights and receivables
- Ting Fiber, LLC, a subsidiary of Tucows Inc., in its securitization, secured by fiber to the home infrastructure, wireless assets and customer receivables
- Barclays and MUFG in numerous multibillion-dollar issuances of secured tower revenue notes by Vertical Bridge, the largest private owner and manager of communication infrastructure in the U.S., backed by a portfolio of cellular sites and related assets
- Barclays in numerous issuances by Diamond Communications, one of the largest privately-owned tower and wireless infrastructure companies in the U.S., backed by a portfolio of cellular sites and related assets
- SBA Communications, one of the largest wireless cell tower operators in the Western hemisphere, in connection with over $6.4 billion of securitizations, backed by mortgage liens on cell towers
Whole-Business Securitization
- Sonic in over $1 billion of notes issuances in its existing whole-business securitization backed by franchise-fee revenues
- Wingstop Restaurants in connection with its $480 million whole-business securitization and subsequent whole-business securitization
- High Bluff Capital Partners in a $250 million whole-business securitization for Church’s Chicken, backed by franchise royalties, intellectual property and company-owned store revenues
Diamond Industry Transactions
- G.K. Diamonds BV in its inaugural $140 million cross-border securitization backed by existing and future rough and polished diamond inventory; and in its second cross-border inventory-based securitization
- Pluczenik Diamond Company, N.V. as seller and servicer for its second diamond receivables securitization, as well as its inaugural $150 million cross-border inventory securitization, backed by existing and future rough and polished diamond inventory
- Stargems DMCC as seller and servicer in its first securitization backed by diamond receivables; and in its second receivables securitization
Media & Entertainment Transactions:
- the $1 billion equity and securitization financing of HarbourView, a boutique entertainment asset manager, including a $300 million securitization of music streaming royalties
- MUFG as structuring agent and an initial purchaser in connection with its inaugural ABS music securitization by Lyra MUSIC Assets
Other Notable Securitization Transactions:
- Coinstar, a portfolio company of Apollo, in connection with the issuance of its Series 2018 Class A-2 Notes, Coinstar’s second securitization and in connection with liability management amendments for its securitization
- Apollo Global Management in the issuance of $325 million aggregate principal amount of 4.77% Series A Senior Secured Guaranteed Notes secured by a lien on Apollo’s participation interests in the rights to distributions in relation to a portfolio of equity investments owned by affiliates of Apollo in certain existing and future funds managed or advised by subsidiaries of Apollo.
- Numerous portfolio companies managed by affiliates of Apollo Global Management in connection with accounts receivable securitizations and factoring transactions including, Atlas Air Inc., Rackspace Technologies, ABC Technologies, Wheels Donlen, Yahoo AdTech and Yahoo Inc, Covis Pharma and Lumileds Holdings.