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Phillip Callesen practices in the business area, principally in debt financing, project finance and private equity transactions, and is the leader of the Debt Finance Practice Team.

Mr. Callesen represents both lenders and borrowers in numerous secured and unsecured credit transactions for acquisition and working capital purposes, including institutional credits and private placement transactions. Many of these transactions involve financing secured by target assets in connection with acquisitions by private equity firms. He has significant experience in the securitization of financial assets, including real estate mortgages, leases, inventory and accounts receivable. Recent transactions include a $100 million facility for a leasing and equipment finance company, a $120 million refinancing and acquisition financing for a manufacturing and distribution company and a $55 million facility to finance a private equity acquisition of an auto industry supply company. He also regularly represents public company clients in connection with billions of dollars in debt transactions, including unsecured lines of credit, public debt issuances and hybrid securities.

Mr. Callesen has over 15 years of experience in project finance transactions, primarily in the steel industry, and has been named a 2010 “Best Lawyer” in the area of Project Finance. Mr. Callesen was also lead sponsor and company counsel on the SeverCorr transaction (now known as Severstal North America), a $800+ million start up flat-rolled steel mill constructed in Columbus, Mississippi. SeverCorr was named 2005 North American Industrial Deal of the Year by Project Finance Magazine.

Mr. Callesen’s practice includes representation of buyers of distressed businesses, including with respect to acquisition financing, and the resulting flip of stabilized operations. Recent transactions include the acquisition of a landfill and related hauling operation (through the discounted acquisition of defaulted secured debt), a debtor-in-possession loan to, and subsequent acquisition ($25 million) and flip of ($30 million), a propane distribution business and the $15 million acquisition of a nursing home and assisted living facility (also through the acquisition at a discount of defaulted secured debt).

Mr. Callesen also represents sponsors in connection with fund formation, including a recent $300 million REIT qualified real estate acquisition fund.

Mr. Callesen has extensive experience in commercial law and corporate contracts, including contracts for the purchase, sale and financing of goods and services, including leasing arrangements. He regularly addresses issues relating to the Uniform Commercial Code, particularly sales under Article 2 and secured transactions under Article 9. In recent years he has represented U.S. industrial companies in connection with hundred of millions of dollars of equipment and service purchases in the manufacturing and administration sectors, from both domestic and foreign sellers.

In addition to his debt financing practice, Mr. Callesen represents companies in general corporate and real estate transactions, including the purchase and sale of businesses and the sale, acquisition and construction of hotels, office complexes and shopping centers. He has assisted several closely held businesses with control transfers and succession planning.