Clifford Chance
Clifford Chance advises BlackRock on purchase of US$220 million senior secured notes issued by Canadian developer
December 7, 2023
- , Andrew Young, Andrés Berry (He/Him), , Alexandra Machado, Avrohom Gelber, Allison Kelly (She/Her), Paul Koppel, David Walsh, , , Ivona Dimov
- New York, New York, ,
Clifford Chance advises BlackRock on purchase of US$220 million senior secured notes issued by Canadian developer
New York: Global law firm Clifford Chance has advised funds managed by BlackRock Financial Management Inc. on the purchase of US$220 million in senior secured notes issued by a Canadian resorts developer owned by Freed Corp. The proceeds of the notes, which were secured by real estate assets, will be used to refinance indebtedness and to support Freed’s growth strategy.
Partner Andrew Young led the transaction along with associate Andrés Berry.
They were assisted by associates Thomas Gawel, Alexandra Machado; partner Avrohom Gelber, associate Allison Kelly (Tax); partner Paul Koppel, associate David Walsh, law clerk Ivona Dimov (ERISA); Clifford Chance US LLP partner Jason Parsont and associate Fatima Carrillo (Capital Markets).
Young said, "It was a privilege to partner with BlackRock and Freed on this exciting transaction. It was a terrific team effort and exemplified the depth of our bench in guiding private credit providers in complex debt investments.”
This transaction continues Clifford Chance's long-standing service to financial investors in debt and capital markets transactions, including advising BlackRock and Angelo Gordon on a US$250 million private placement.
