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Phillip M. Callesen

Partner

Cleveland
T +1.216.861.7884
F +1.216.696.0740
pcallesen@bakerlaw.com
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Overview

Phil Callesen practices in the area of debt financing and is often engaged to represent borrowers in sophisticated financing transactions. He focuses on private equity portfolio company loans and project finance transactions, primarily for investment funds and large corporate borrowers. With more than 30 years of experience in financing transactions, Phil is equipped to handle any financing transaction presented to him.

Phil is ranked by Chambers USA for Banking & Finance in Ohio, and has been named in The Best Lawyers in America© since 2011 in the area of Project Finance Law and since 2014 in the area of Banking and Finance Law. He leads BakerHostetler’s national Debt Finance team and is co-leader of the Business Restructuring Response team.

Select Experience

  • Represents a sponsor group in connection with a $1.3 billion ground-up steel mill project in Arkansas. Assisted in securing loans and grant support for project funding and developing long-term financing strategies based on the project's projected success. The transaction was named IJ Global’s 2014 North American Metals & Mining Deal of the Year. In 2017, Phil led a Baker team to refinance the project debt with a combination of public notes and Term Loan B debt.
  • Represents a company in the ground-up development of a major metal manufacturing facility, including in the negotiation of credit arrangements with all public and private providers of debt and other capital, as well as in commercial and other contractual arrangements with major project partners.
  • Represents a private equity fund in financing the acquisitions of multiple consumer products companies. Representation includes structuring the credit relationship to allow for growth, interim returns to sponsors and exit strategies.
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Experience

  • Represents a sponsor group in connection with a $1.3 billion ground-up steel mill project in Arkansas. Assisted in securing loans and grant support for project funding and developing long-term financing strategies based on the project's projected success. The transaction was named IJ Global’s 2014 North American Metals & Mining Deal of the Year. In 2017, Phil led a Baker team to refinance the project debt with a combination of public notes and Term Loan B debt.
  • Represents a company in the ground-up development of a major metal manufacturing facility, including in the negotiation of credit arrangements with all public and private providers of debt and other capital, as well as in commercial and other contractual arrangements with major project partners.
  • Represents a private equity fund in financing the acquisitions of multiple consumer products companies. Representation includes structuring the credit relationship to allow for growth, interim returns to sponsors and exit strategies.
  • Represents a public technology company in connection with its senior financing, including a working capital facility and the first-time private placement of domestic and foreign senior notes.
  • Represents a prominent outdoor power equipment manufacturer in connection with its senior financing, including a working capital facility and domestic and foreign long-term notes.
  • Assists large corporate borrowers in senior financing arrangements, including a successful home improvement supply company requiring committed financing to implement a growth-by-acquisition strategy.
  • Served as lead sponsor and company counsel on a more than $800 million startup, flat-rolled steel mill construction in Mississippi. The transaction was named "Deal of the Year" by Project Finance Magazine for its innovation in infrastructure finance and strength of the management team in developing a deal that did not conform to traditional tenets of project financing.
  • Assists companies in long-term commercial contract commitments, including a recent 10-year supply agreement between a corporation and a parts material provider.

Recognitions and Memberships

Recognitions

  • Chambers USA: Recognized Practitioner: Banking & Finance in Ohio (2016 to 2020)
    • Band 3 (2020), Recognized Practitioner (2016 to 2019)
  • The Best Lawyers in America© (2011 to Present)
    • Ohio: Banking and Finance Law
    • Ohio: Project Finance Law
  • IJ Global Americas "North American Metals & Mining Deal of the Year" (2014)
  • Project Finance Magazine “Deal of the Year” (2005)
  • Martindale-Hubbell: AV Preeminent

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  • Lake Erie Nature & Science Center: Board of Directors (2014 to present)
    • President (2018 to 2020)
    • Vice President (2017 to 2018)

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  • Ohio

Education

  • J.D., Case Western Reserve University School of Law, 1987, magna cum laude, Order of the Coif
  • B.A., Bowling Green State University, 1984, magna cum laude, Phi Beta Kappa

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