Patricia J. Lane

Partner

Overview

Patricia J. Lane is a partner and corporate lawyer with Foley & Lardner LLP with extensive experience representing corporate borrowers in complex financing arrangements. She is a member of the firm’s Finance & Financial Institutions Practice and Sports Industry Team.

Representative clients include Harley-Davidson, Inc., Johnson Controls International plc, Fiserv, Inc., Pentair plc, Oshkosh Corporation, Briggs & Stratton Corporation, Snap-on Incorporated, A.O. Smith Corporation, Modine Manufacturing Company, Hanger, Inc., Bemis Company, Inc., Regal-Beloit Corporation, Cummins Inc., MGIC Investment Corporation, Milwaukee Brewers Baseball Club, Limited Partnership, Texas Rangers Baseball Club, and the Green Bay Packers.

In addition to traditional financings, she has extensive experience representing corporate borrowers and issuers in complex financing arrangements, both domestic as well as foreign, including syndicated and bilateral credit facilities in US dollars as well as numerous foreign currencies, commercial paper programs, acquisition financings and other structured finance transactions. She also has structured warehouse lending facilities and has represented corporate borrowers in work-out transactions both inside and outside of bankruptcy including debtor-in-possession financings.

Patricia has negotiated and documented a wide variety of derivative transactions, including interest rate and currency exchange agreements, equity index, total return, and other hedging transactions, as well as liquidity and credit enhancement measures.

She has also represented issuers, underwriters and rating agencies in asset securitization transactions. Financial assets have included auto loans and leases, agricultural and construction equipment chattel paper, credit card receivables, health care receivables, future cash flows, government contract receivables, Chapter 13 plans, delinquent credit card receivables, television revenues, trade receivables, lease receivables, mortgage loans, stranded utility costs, home equity loans, and home equity lines of credit.

Representative Transactions and Clients

Recent Public Company (and selected other company) Credit Facilities:

  • Modine Manufacturing Company - $250 million revolving facility and $155 million and €40 million term loan facilities (June 2019)
  • Harley-Davidson, Inc. - $100 million revolving credit facility (May 2019)
  • Johnson Controls International plc - $750 million term credit facility (January 2019)
  • Wabash National Corporation - $175 million revolving credit facility (December 2018)
  • Fiserv, Inc. - $2 billion revolving credit facility (September 2018)
  • Regal Beloit Corporation - $1.4 billion revolving and term loan credit facilities (August 2018)
  • Cummins Inc. - $3.5 billion revolving credit facilities (August 2018)
  • Plantronics, Inc. - $1.375 billion revolving and term credit facility (July 2018)
  • Whiting Petroleum Corporation - $1.75 billion revolving credit facility (April 2018)
  • Pentair Finance S.à r.l. - $800 million revolving credit facility (April 2018)
  • Harley-Davidson, Inc. - $780 million revolving credit facility (April 2018)
  • nVent Finance S.à r.l. - $800 million revolving and term loan credit facilities (March 2018)
  • Oshkosh Corporation - $1.175 billion revolving and term loan credit facilities (March 2018)
  • Hanger, Inc. - $605 million term loan and revolving credit facility (March 2018)
  • Neenah Foundry Company - $195 million revolving and term credit facilities (December 2017)
  • Cummins Inc. - $1 billion revolving credit facility (September 2017)
  • Harley-Davidson, Inc. - $100 million revolving credit facility (May 2017)
  • MGIC Investment Corporation - $175 million revolving credit facility (March 2017)
  • A.O. Smith Corporation - $500 million credit facility (December 2016)
  • Modine Manufacturing Company - $625 million revolving and term loan credit facilities (November 2016)
  • Hanger, Inc. - $280 million Term Loan B (August 2016)
  • Bemis Company, Inc. - $1.3 billion credit and term loan facility (July 2016)
  • Harley-Davidson, Inc. - $1.44 billion revolving five year credit facilities (April 2016)
  • Briggs & Stratton Corporation - $500 million revolving credit facility (March 2016)
  • Snap-on Incorporated - $700 million revolving credit facility (December 2015)
  • Cummins Inc. - $1.75 billion revolving credit facility (November 2015)
  • S.C. Johnson & Son, Inc. - $850 million 4.750% senior notes due 2046 (October 2015)
  • Pentair Finance S.A. - $1.8 billion bridge commitment; $500 million 2.90% senior notes due 2018; $400 million 3.625% senior notes due 2020; $250 million 4.650% senior notes due 2025 and €500 million 2.450% senior notes due 2019 (September 2015)
  • Johnson Controls, Inc. - ¥37 billion revolving credit facility (June 2015)
  • Fiserv, Inc. - $2 billion revolving credit facility (April 2015)
  • Journal Media Group, Inc. - $50 million revolving credit facility (April 2015) 
  • Oshkosh Corporation - $250 million 5.375% senior notes (March 2015) 
  • Whiting Petroleum Corporation - $750 million 6.25% senior notes (March 2015) 
  • Whiting Petroleum Corporation - $1.25 billion 1.25% convertible notes (March 2015)
  • Oshkosh Corporation - $250 million revolving credit facility (January 2015)
  • Cummins Inc. - extension of $1.75 billion revolving credit facility (October 2014)
  • Pentair, Inc. - $2.1 billion revolving credit facility (October 2014)
  • Whiting Oil and Gas Corporation - $3.5 billion revolving and term loan credit facilities (August 2014)
  • Bemis Company, Inc. - $200 million term credit facility (July 2014)
  • Revera Health Systems, Inc. - $120 million term credit facility (June 2014)
  • Extendicare Health Services, Inc. - $135 million revolving and term credit facilities (June 2014)
  • Harley-Davidson, Inc. - $1.35 billion revolving five year and four year credit facilities (April 2014)
  • Oshkosh Corporation - $1 billion revolving and term credit facilities (March 2014)
  • Fiserv, Inc. - $900 million term credit facility and extension of $2 billion revolving credit facility (October 2013)
  • Snap-on Incorporated - $700 million revolving credit facility (September 2013)
  • Bemis Company, Inc. - $1.1 billion revolving credit facility (August 2013)
  • Johnson Controls, Inc. - $2.5 billion revolving credit facility (August 2013)
  • Hanger, Inc. - $425 million revolving and term credit facilities (June 2013)
  • Neenah Foundry Company - $250 million revolving and term credit facilities (April 2013)
  • A.O. Smith Corporation - $400 million revolving credit facility (December 2012)
  • Journal Communications, Inc. - $350 million revolving and term credit facilities (December 2012)
  • Cummins Inc. - $1.75 billion revolving credit facility (November 2012)
  • Pentair, Inc. - $1.45 billion revolving credit facility (September 2012) 
  • Extendicare Health Services, Inc. - $20 million revolving credit facility (September 2012) 
  • Fiserv, Inc. - $2 billion revolving credit facility (August 2012) 
  • Oshkosh Corporation - repricing of $980 million revolving and term credit facilities (July 2012) 
  • Extendicare Health Services, Inc. - $80 million revolving credit facility (June 2012)
  • Fidelity National Financial, Inc. - $800 million revolving credit facility (April 2012)
  • Harley-Davidson, Inc. - $1.35 billion revolving five year and four year credit facilities (April 2012)

Recent Receivables Conduit Facilities:

  • Sherman Financial Group LLC - revolving and term securitization of charged-off and bankrupt consumer receivables (June 2017)
  • Sherman Financial Group LLC - revolving and term securitization of credit card receivables (June 2017)
  • Harley-Davidson, Inc. - $900 million revolving receivables conduit securitization facility (December 2016)
  • Harley-Davidson, Inc. - $600 million revolving receivables conduit securitization facility (December 2015)
  • Harley-Davidson, Inc. - extension of $600 million revolving receivables conduit securitization facility (September 2014)
  • Sherman Financial Group LLC - revolving and term securitization of credit card receivables (February 2014)
  • Sherman Financial Group LLC - revolving and term securitization of credit card receivables (December 2013)
  • Harley-Davidson, Inc. - extension of $600 million revolving receivables conduit securitization facility (September 2013)
  • Sherman Financial Group LLC - revolving and term securitization of credit card receivables (March 2013)
  • Snap-on Incorporated - extension of $200 million revolving receivables conduit securitization facility (September 2012) 
  • Harley-Davidson, Inc. - extension of $600 million revolving receivables conduit securitization facility (September 2012) 
  • Sherman Financial Group LLC - revolving and term securitization of credit card receivables (September 2012)
  • Sherman Financial Group LLC - revolving and term securitization of credit card receivables (February 2012)

Recognition

Patricia has been Peer Review Rated as AV® Preeminent™, the highest performance rating in Martindale-Hubbell's peer review rating system and has been selected for inclusion in the Chambers USA: America's Leading Business Lawyers 2016 and 2017 lists, receiving a Tier 1 ranking. Patricia has also been selected for inclusion in The Best Lawyers in America® 2013 and 2014 for her work in banking and finance law, and securitization and structured finance law. She is a co-author of a recent book published by Aspatore Books – The Law and Economics of Financial Markets – Lessons of History That Assure Success in the Future.

Education

Patricia graduated from the University of Chicago (J.D.) and Marquette University (B.A., summa cum laude), where she was a member of Phi Beta Kappa.

Representative Matters

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Foley represented Maynada Blue, an affiliate of Maynada Holdings, in securing a commercial loan from lender B2R Finance, an affiliate of Blackstone, in the amount of $45.5 million. The complex transaction was secured by 217 properties, which is a significant loan amount and size for a local fund based in Miami. Foley led efforts on behalf of Maynada Holdings for the title component and loan documentation, including the agreement negotiations and structuring of the transaction. Foley had represented Maynada Holdings earlier in 2015 in securing another commercial loan in the amount of $40 million from C1Bank, secured by 299 properties. The Foley team was led by Daniel Diaz Leyva and included Ashley McRae, Patricia Lane, and Christine Rittberg.
Foley represented Milwaukee Bucks President and Owner Herbert Kohl in the sale of the basketball franchise to New York investment firm executives Marc Lasry and Wesley Edens. The deal, announced on April 16, 2014, is valued at approximately $550 million. Consistent with his commitment to the Bucks and Milwaukee, Kohl, a former U.S. Senator from Wisconsin, has pledged a $100 million gift for the development of a new arena for the team. In addition to honoring Kohl’s requirement that the team be kept in Milwaukee, the prospective new owners have committed to contribute at least an additional $100 million towards the development of a new arena in the city.The Foley team was led by Partners Patrick Quick and Kevin Schulz, and also included Spencer Moats, Tyler Parramore, Tim Voigtman, Jason Kohout, George Dionisopoulos, Corey Sheahan, Garrett Bishop, Trish Lane, Nick Faleris, Belinda Morgan, Holden Brooks, and Irwin Raij, among others.
Foley represented Extendicare in its $875 million divestiture of its U.S. senior nursing operations.