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D. Craig Russell III



One Oxford Centre
301 Grant St, 14th Floor
Pittsburgh, PA 15219


Two Commerce Square
2001 Market St, Suite 2620
Philadelphia, PA 19103
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Fax: +14123942555
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LL.M., University of London, Queen Mary and Westfield College, 1998, (Centre for Commercial Law Studies) Banking and Finance
J.D., Duquesne University School of Law, Pittsburgh, Pennsylvania, 1997
B.A., Washington and Jefferson College, Washington, Pennsylvania, 1994, English
State Bar Licenses
Court Admissions
U.S. District Ct., W.D. of Pennsylvania

D. Craig Russell III


D. Craig Russell III routinely represents institutional lenders, mezzanine funds, and borrowers in bilateral and syndicated commercial finance transactions consisting of working capital and acquisition financings).

Craig structures, documents, and negotiates asset-based loan transactions; traditional commercial and industrial loan transactions, both secured and unsecured; complex/structured financing involving sponsor equity, mezzanine and other senior subordinated debt, junior subordinated debt, and other "capital stack" sources of funding; multi-national/cross-border credit facilities, including coordinating the engagement and management of foreign local counsel; leveraged financing transactions; and real estate lending transactions consisting of acquisition/development and/or construction financing.

Institutional lender clients seek Craig’s help in developing and refining form loan documentation. Additionally, Craig frequently works with colleagues in the firm's Corporate group as borrower's counsel, managing the financing aspects of acquisitions and recapitalizations. He is often called upon specifically to document and negotiate inter-creditor and subordination agreements.

In addition to representing institutional lenders acting as administrative agent/collateral agent in syndicated loan transactions, Craig serves as review counsel for co-lenders in such transactions and manages a number of the firm's outside review counsel retainer engagements. 

Craig also documents and negotiates forbearance agreements and handles debt restructurings and other pre-bankruptcy work-out and refinance transactions. 

With more than 20 years of experience working on both straightforward and complex financing transactions within a wide variety of industries and services, Craig has a strong foundation of technical ability coupled with an emphasis on practicality. His first focus is how to best meet his clients' needs and achieve their goals and objectives in the highest quality, most efficient, and most cost-effective way possible. 

Craig also serves in a senior leadership role within the firm's Banking and Financial Services Practice and manages the client teams for some of the firm's largest institutional lender clients.   

The Best Lawyers in America
American Bar Association
Pennsylvania Bar Association
Allegheny County Bar Association
Associate Member, Pittsburgh Chapter of the Commercial Finance Association
Pittsburgh Chapter of the Turnaround Management Association
Counsel to the administrative agent and lead arranger in connection with a secured credit facility provided to a manufacturer of specialized drilling equipment the proceeds of which were used to refinance existing indebtedness and for working capital and general corporate purposes
Counsel to the administrative agent and lead arranger in connection with a $201,800,000 senior secured credit facility to finance the acquisition of the stock of a specialty metals company. The credit facility is secured by all assets of the loan parties, including all of the capital stock of each of the loan parties. 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
Counsel to the administrative agent in an approximately $70 Million asset-based credit facility obtained in connection with the acquisition of the assets of a bankrupt manufacturing company under Section 363 of the United States Bankruptcy Code. In addition, our representation of the administrative agent included the documentation and negotiation of an intercreditor agreement with respect to mezzanine debt extended by the acquiring entity's equity sponsor
Counsel to the agent in connection with a secured syndicated credit facility to finance the recapitalization of an NFL franchise. In addition to structuring, drafting and negotiating the loan documentation and performing the appropriate due diligence, we reviewed the NFL Constitution and ByLaws and the franchise agreement and negotiated a consent agreement with the NFL in connection with the same
Counsel to the agent in connection with a secured credit facility to (i) finance the acquisition of the stock of a construction equipment company, (ii) refinance existing revolving credit indebtedness and (iii) provide for general corporate purposes, including working capital requirements and capital expenditures
Counsel to the administrative agent and lead arranger with respect to an $85,000,000 senior secured asset-based revolving credit facility including a letter of credit subfacility for a manufacturing company in the styrofoam business. The proceeds of the credit facility were used to refinance existing senior indebtedness of the company and were also used for general corporate and working capital purposes. The credit facility was secured by liens on substantially all of such company's personal property (excluding equipment)