Michael Chernick
Partner
Michael has over 30 years of experience in the U.S. leveraged finance market, representing leading investment and commercial banks, alternative capital providers and other financial institutions in secured and unsecured lending transactions and debt capital markets transactions.
He has extensive experience in public and private leveraged and investment grade acquisition finance (including bridge financings), refinancings and recapitalizations, second-lien and asset-based lending. Michael also advises on securities, capital markets, bank finance and corporate transactions representing corporations and financial institutions in bank financings, public and private offerings and high-yield debt offerings.
Expertise
Experience
Representative matters
The joint book-running managers on the $775 million notes offering and the administrative agent on the $650 million incremental term loan in connection with Sealed Air’s acquisition of Liqui-Box.
The lenders in connection with a mega unitranche financing for the acquisition of BioAgilytix by Cinven, consisting of a term facility, a delayed draw term facility and a revolving credit facility.
Lead Arrangers in connection with the $2.15 billion acquisition financing for Mavis Tire Express Services, consisting of $1.915 billion first-lien term loan facility and $200 million revolving credit facility, to finance a portion of the purchase price for the acquisition of Mavis Tire by an investor group led by BayPine, in partnership with TSG Consumer Partners.
Lead Arrangers in connection with the $935 million financing for Aspect Software Parent Inc., consisting of a $610 million first-lien term loan, a $75 million revolving credit facility and a $250 million second-lien term loan, to finance the acquisition of Aspect Software and Noble Systems Corporation by ABRY Partners.
Published Work
- Chernick, Michael; Mastoras, Thomas (2023) “Getting the Deal Through: Loans & Secured Financing 2024 Global Overview”, London: Lexology
- Chernick, Michael; Mastoras, Thomas (2023) “Getting the Deal Through: Loans & Secured Financing 2024 USA Chapter”, London: Lexology
- Chernick, Michael; O’Sullivan, Maura; Shah, Shameer; Dogra, Shawn (2023) “Introduction”, London: 2023 Chambers Banking & Finance Global Practice Guide
- Chernick, Michael; O’Sullivan, Maura; Coelho, Sara; Oliver, Frank; Wieslander, Magnus; Wolszczak, Greg (2023) “USA: Law & Practice”, London: 2023 Chambers Banking & Finance Global Practice Guide
Speaking Engagements
Panelist, Current Trends in Direct Lending, Refinitiv LPC’s Spring 2022 Loans Virtual Conference, March 2022
Recognition
“Michael is outstanding, he has so much experience and pays great attention to detail.”
Chambers USA, 2023
“He’s a strong lawyer - he’s very smart and committed to completing deals.”
Chambers USA, 2023
Awards
- Recommended lawyer, Legal500, 2023
- Notable practitioner, IFLR1000, 2023
- Ranked lawyer, Chambers USA, 2023
Qualifications
Admissions
New York State (First Dept), 1991
Academic
B.A., Economics and Psychology, Emory University, 1987
J.D., Cornell University, 1990
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.