Mandel  stephen

Stephen J. Mandel

Member
Office

Pittsburgh

One Oxford Centre
301 Grant St, 14th Floor
Pittsburgh, PA 15219
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Fax: 412.394.2555
Practice Areas
Banking & Finance
Areas of Emphasis
Commercial & Real Estate Finance
Industries
Banking
Education
J.D., Fordham University School of Law, Manhattan, New York City, New York, 2004
B.S., Pennsylvania State University, State College, Pennsylvania, 2001
State Bar Licenses
Pennsylvania
New York

Stephen J. Mandel

Member

Stephen J. Mandel is a member of the firm’s Banking & Finance Practice Group. He focuses his practice on the representation of borrowers and lenders in secured and unsecured commercial finance transactions, including asset–based loans, syndicated credit facilities, acquisition and second-lien financings, subordinated and mezzanine loans, and other credit arrangements. Prior to joining the firm, Stephen practiced law in the finance department at Schulte, Roth & Zabel LLP in New York, where he represented hedge funds, private equity funds and other finance companies in domestic and cross-border finance transactions.

Experiences
Counsel to the administrative agent and lead arranger with respect to a $400,000,000 senior secured credit facility provided by a syndicate of 14 financial institutions to a vertically-integrated, global vision company and 35 of its domestic subsidiaries. The proceeds of the credit facility were used to, among other things, refinance certain existing indebtedness of the loan parties and provide working capital to the loan parties. The credit facility was guarantied by the borrower's non-profit insurance company parent and, therefore, the documentation and negotiation of the same involved numerous and varied issues related to the regulation of insurance companies.
Counsel to the administrative agent and lead arranger in a $335 Million asset-based credit facility (including swing loan, letter of credit and term loan accordion and revolving credit accordion features) for a national petroleum company. The credit facilities provide capital for the loan parties' operations and acquisitions. In addition, our representation of the administrative agent included the negotiation of the intercreditor agreement with the loan parties' equipment lender.
Counsel to the administrative agent and lead arranger with respect to a $400,000,000 unsecured credit facility (including a swing line facility, letter of credit subfacility and accordion feature) provided to an investment grade, public company borrower to be used for working capital and acquisitions. The credit facility is guarantied by the borrowers' parent company and all of the borrowers' subsidiary companies. The credit facility includes a springing fixed charge covenant.
Counsel to the administrative agent and a joint lead arranger and bookrunner with respect to a $500,000,000 unsecured revolving credit facility with a $150,000,000 letter of credit subfacility and a $30,000,000 swing loan subfacility for a large retail chain.
Counsel to the administrative agent and lead arranger with respect to a $200,000,000 senior secured credit facility with a letter of credit subfacility, swing line and accordion feature provided by a syndicate of six national financial institutions to a reciprocal insurance exchange acting through an attorney-in-fact. The proceeds of the credit facility were used, among other purposes, to refinance certain existing indebtedness of the borrower and provide working capital to the borrower. The credit facility was secured by a securities account maintained by the borrower, consisting of a portfolio of government bonds and notes, municipal bonds, federal agency bonds and corporate bonds. The documentation and negotiation of the credit facility involved numerous issues related to the borrower’s organizational and management structure and the regulation of reciprocal insurance exchanges.
Counsel to the administrative agent and lead arranger with respect to approximately $160,000,000 in senior secured credit facilities consisting of first lien, second lien and fully subordinated tranches as well as letter of credit and working cash sub-facilities for a specialized manufacturing company with U.S. and Canadian operations. The credit facilities provided for the recapitalization of and working capital for the loan parties and are secured by liens on substantially all of such parties' real and personal U.S. and Canadian assets.