Practice
Steven Sherman has spent the majority of his career representing financial institutions, as well as corporate clients, in private domestic and offshore debt and equity financing transactions, with a particular emphasis on acquisition financings, project financings, bankruptcies and reorganizations. In new financings, he has represented financial institutions, owners and issuers in private debt and equity placements, leveraged acquisition financings, cogeneration and natural resource financings, securitizations and tax advantaged structured financings. His practice in the workout area has included the reorganization or workout of industrial companies, oil service companies, retailers, project financings, health care companies, natural resource companies and real estate projects. Mr. Sherman joined the firm in 1978 and became a partner in 1984.

Mr. Sherman has been cited regularly as one of the leading banking & finance as well as restructuring & insolvency lawyers in Chambers USA – America’s Leading Lawyers for Business annually from 2005, Legal 500 US annually from 2007 for Acquisition Finance and Credit & Syndicated Transactions, Legal Media Group’s Insolvency and Restructuring Lawyers Guide to the World’s Leading Lawyers, Who’s Who Legal – California annually since 2004 for Banking and Insolvency & Restructuring, and Who’s Who Legal – The International Who’s Who of Business Lawyers since 2003 for Insolvency & Restructuring, as well as Northern California Super Lawyers annually since 2004. Mr. Sherman was recently elected to the American College of Commercial Finance Lawyers.

• Citigroup Global Markets Inc. as joint lead arranger and joint bookrunner in connection with a $600 million senior secured credit facility for Fairmont Hotels & Resorts (U.S.) Inc., FRHI Finance (Del) Partnership, FRS Hotel Group (Lux) S.à r.l., FRHI Holdings (Sing) Pte. Ltd. and Fairmont Hotels & Resorts Inc.
• Morgan Stanley Senior Funding, Inc. as sole lead arranger and sole book manager in connection with a $50 million credit facility for Prospect Medical Holdings, Inc. secured by mortgages on seven hospitals in California and Texas, as well as substantially all of the other assets of Prospect Medical Holdings, Inc. and its subsidiaries
• DBS Bank Ltd., Singapore as administrative agent in connection with a $265 million secured financing for Pan-Asia iGate Solutions for the purchase of the outstanding shares of Patni Computer Systems, a technology company based in Bangalore, India
• Bank of America, N.A as administrative agent in connection with a $300 million asset-based revolving credit facility for Sanmina-SCI Corporation and certain of its subsidiaries, with Sanmina-SCI Systems (Canada) Inc. and SCI Brockville Corp. as Canadian guarantors
• MSC Software Corporation as borrower under a $225 million unitranche secured credit facility agented by Wells Fargo Capital Finance, LLC
• Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, BNP Paribas, BNP Paribas Securities Corp., The Royal Bank of Scotland plc and RBS Securities Inc. as arrangers in a $3 billion financing for Sealed Air Corporation related to its acquisition of Diversey Holdings, Inc. and the repayment of certain indebtedness
• The NASDAQ OMX Group, Inc. in its $1.2 billion refinancing agented by Bank of America, N.A.
• An agent bank in an asset-based revolving credit facility for a major supplier of display processors for flat panel displays
• A major automobile parts manufacturer under a secured first lien asset-based financing and a second lien term loan
• An agent bank in a global workout of a major hospitality company
• An agent bank in a workout of a portfolio of major commercial real estate properties
• An agent bank in an asset-based secured financing for a major software developer
• Agent banks in first lien/second lien acquisition financings, asset-based financings and recapitalization financings for software developers, media companies, healthcare companies and others
• An agent bank on a Shariah-compliant secured acquisition financing of a dental practice management company
• An agent in the workout of a secured financing for a media company
• Private equity firms in several leveraged acquisitions of software companies, websites and other technology-related companies

• Lecturer on financings, workouts and reorganizations at numerous PLI programs and American Bar Association, American Bankers Association and California State Bar Association workshops
• Fellow of the American College of Commercial Finance Lawyers