Sebastian Chan
Partner
Debt Finance
Overview
Sebastian Chan is a debt finance partner in the New York office of Kirkland & Ellis LLP. Sebastian advises private equity and infrastructure fund clients on investments in energy and infrastructure assets. He has significant experience representing financial institutions, funds, non-traditional lenders, companies and financial sponsors in the structuring, negotiation and documentation of debt financing and restructuring transactions. He is adept at both bank and bond offerings in leveraged acquisition finance. Sebastian has also done extensive work in the areas of private equity, structured finance and securitization, and venture capital finance. Sebastian was recommended by The Legal 500 United States in 2022–2023 for Project Finance.
Experience
Representative Matters
Power and Infrastructure
- Ares Management's Infrastructure Opportunities and Alternative Credit strategies on its strategic investment into Bluepeak, a leading provider of fiber broadband to residential and commercial customers in communities across the Great Plains region.
- Global Infrastructure Partners in its investment in Rio Grande LNG’s $18.4 billion Phase I development and project financing.
- Brookfield Infrastructure Partners L.P. on its definitive agreement with Intel Corp. to jointly fund Intel’s under-construction semiconductor fabrication facility with Brookfield investing up to $15 billion for a 49 percent stake in Intel’s manufacturing expansion.
- The acquiring consortium and KKR, a leading global investment firm, in the financing of the consortium’s approximately $15 billion acquisition of all outstanding shares of common stock of CyrusOne Inc. (NASDAQ:CONE), a premier global data center REIT.
- KKR in connection with the signing of definitive documentation to acquire the Thermal business of Clearway Energy, Inc. (NYSE: CWEN, CWEN.A), for total consideration of $1.9 billion, subject to customary closing adjustments. Clearway's Thermal business, commercially known as Clearway Community Energy, consists of thermal infrastructure assets that provide steam, hot water and/or chilled water, and in some instances electricity, to commercial businesses, universities, hospitals, and governmental customers across the United States.
Bank Finance
- The lead arrangers for $4.86 billion credit facilities for Veritas Capital’s acquisition of athenahealth, Inc.*
- The lead arrangers for a $250 million TLB secured credit facility and a $100 million secured revolving credit facility for OZ Management LP, a subsidiary of Och-Ziff Capital Management Group LLC.*
- The lead arrangers for a $2 billion term loan credit facility for VMWare, Inc.*
- JPMorgan Chase Bank, N.A. as administrative agent, and the lead arrangers for a $1 billion revolving credit facility for VMware, Inc.*
- Bank of America as lead arranger and bookrunner for a $537 million term loan facility for ChampionX Holding Inc. for the merger and spin-off transactions involving Ecolab Inc. and Apergy Corporation.*
- The lenders for the acquisition financing of Dow Inc.’s rail infrastructure assets and related equipment by Oaktree Capital Management, L.P. in partnership with Watco Companies, L.L.C.*
- CRG, a healthcare-focused investment firm, and its affiliate funds, for various loan and equity financings for biotechnology companies.*
- McGrath Rentcorp for the refinancing of a $420 million unsecured revolving credit facility.*
- Silver Point Finance, LLC for $220 million first, second and third lien credit facilities for Vonage Holdings Corp.*
- Time Warner Cable Inc. for the refinancing of a $4 billion unsecured revolving credit facility.*
- KPS Capital Partners, LP for a $465 million dividend recapitalization transaction for Global Brass and Copper, Inc.*
- The Broadlane Group, a portfolio company of TowerBrook Capital Partners, for the refinancing of $195 million secured term and revolving credit facilities.*
Capital Markets/Securitization
- The initial purchasers for financings to back Blackstone Group’s acquisition of a 55% stake in Refinitiv (for the Financial and Risk business of Thomson Reuters Corp). The multicurrency Rule 144A/Regulation S offering was comprised of $1.25 billion 6.250% senior first lien notes due 2026, €860 million 4.500% senior first lien notes due 2026, $1.575 billion 8.250% senior notes due 2026 and €365 million 6.875% senior notes due 2026 by Financial & Risk US Holdings, Inc.*
- The initial purchasers for a Rule 144A/Regulation S offering of $1.5 billion 5.000% second lien senior secured notes due 2025 by 1011778 B.C. Unlimited Liability Company and New Red Finance, Inc., subsidiaries of Restaurant Brands International Inc., a leading quick service restaurant company and owner of franchise brands Burger King, Tim Horton’s and Popeye’s Louisiana Kitchen.*
- The initial purchasers for a Rule 144A/Regulation S offering of $750 million 4.375% second lien senior secured notes due 2028 by 1011778 B.C. Unlimited Liability Company and New Red Finance, Inc.*
- The initial purchasers for a Rule 144A/Regulation S offering of $500 million 5.750% first lien senior secured notes due 2025 by 1011778 B.C. Unlimited Liability Company and New Red Finance, Inc.*
- The initial purchasers for a Rule 144A/Regulation S offering of $750 million 7.250% senior secured notes due 2027 by Talen Energy Supply, LLC.*
- The initial purchasers for a Rule 144A/Regulation S offering of $470 million 6.625% senior secured notes due 2028 for Talen Energy Supply, LLC.*
- The initial purchasers for a Rule 144A/Regulation S offering of $400 million 7.625% senior secured notes due 2028 for Talen Energy Supply, LLC.*
- The initial purchasers for a Rule 144A/Regulation S offering of $650 million 6.750% senior secured notes due 2028 for Cushman & Wakefield U.S. Borrower, LLC.*
- The initial purchasers for a Rule 144A/Regulation S offering of $568 million 6.250% senior notes due 2026 by Gates Global LLC and Gates Corporation, subsidiaries of Gates Industrial Corporation plc, a global manufacturer of power transmission and fluid power solutions.*
- The initial purchasers for a Rule 144A/Regulation S offering of $500 million 6.500% senior unsecured notes due 2027 by Watco Companies, L.L.C. and Watco Finance Corp.*
- The initial purchasers for a Rule 144A/Regulation S offering of $475 million 10.000% senior secured second lien notes due 2024 by Capitol Investment Merger Sub 2, LLC for the acquisition of Nesco Holdings I, Inc. by Capitol Investment Corp. IV.*
- Citigroup Global Markets Inc. as dealer manager for the exchange offer of new Talos Production LLC and Talos Production Finance Inc. 11.00% second priority senior secured notes due 2022 for the existing 7.500% senior secured notes due 2022 of Stone Energy Corporation.*
- CRG for the securitization of its term loans and the issuance of $167 million of asset-backed securities.*
- Dong Fang, a subsidiary of China Shipping Group, for the issuance of $200 million Series 2013-1 and $159 million Series 2014-1 cross-border asset-backed securities.*
- Textainer Group Holdings Limited for the issuance of $400 million Series 2012-1 asset-backed securities.*
- A U.S. government corporation for the issuance of nearly $1 billion of guaranteed commercial mortgage-backed securities and mortgage-backed securities.*
- Lehman Brothers for the issuance of $245 million of high yield fixed rate notes by IHOP Corp. for the merger of IHOP Corp. with Applebee’s International Inc.*
- AbitibiBowater Inc. for the amendment and restatement of its $270 million accounts receivable securitization facility.*
* matter completed prior to joining Kirkland
Prior Experience
Cahill Gordon & Reindell LLP
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Recognition
Recognized for Project Finance by The Legal 500 United States, 2022–2023
Credentials
Admissions & Qualifications
- New York
- California
Languages
- English
- Mandarin
- Cantonese
- French
Education
- Stanford Law SchoolJ.D.2007
Stanford Law Review
Stanford Law & Policy Review
- Columbia UniversityB.A., English; French Minorsumma cum laude2000
Columbia Global Scholar
Singapore Airlines Undergraduate Scholar
News &
Insights
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