Milbank LLP’s complex securitization team has closed five esoteric securitization transactions this week across a range of asset classes, including whole-business securitizations of franchise royalties, financing of oil & gas interests and digital infrastructure securitization.
In a transaction that closed on November 28, 2023, Milbank represented the initial purchaser in a $240 million inaugural securitization of the franchise assets and intellectual property of Qdoba Restaurant Corporation.
In a transaction that closed on November 29, 2023, Milbank represented the initial purchasers in a $240 million securitization of the franchise assets and intellectual property of FOCUS Brands LLC.
In a transaction that closed on November 30, 2023, Milbank represented Five Guys Enterprises, LLC in a $450 million securitization of its franchise assets and intellectual property.
In another transaction that closed on November 30, 2023, Milbank represented the placement agent in a $162 million privately placed 4(a)(2) securitization of oil and gas revenues.
Finally, in a transaction that closed on December 1, 2023, Milbank represented the initial purchasers in a $488 million securitization of the data center revenues of CyrusOne LP.
The Milbank deal teams were led by New York-based Alternative Investments partners Michael Urschel, Kathryn Weiss and Martin Eid along with Alternative Investments partner James Warbey (London), Corporate Finance and Securities partner Brett Nadritch (New York), Executive Compensation and Employee Benefits partner Joel Krasnow (New York), Tax partners Eschi Rahimi-Laridjani and Andrew Walker (New York), Global Corporate/Technology partner Nicholas Smith (Washington, DC), Transportation and Space partners Alexandra Johnson (New York), Patrick Campbell and Bijan Ganji (Washington, DC), special counsel Tony Mechcatie, Bert Eidson, Philip Powers, Mandy Stupart, Craig Cohen and Janet Nadile and associates Olivia Lin, Thomas Prommer, Amber Dong, Connor Clune, Shermarkeh Hussein, Charlene Yin, Jeff Zhou, John Harrison, Shuang Wu, Andrew Krueger, Michayla Wolfe and others.
