Michelle Kilkenney, P.C.
Overview
Michelle Kilkenney is a corporate partner in Kirkland's Chicago office and an active committee member and Chicago office Pro Bono Coordinator, of the Firm’s award-winning pro bono program. Michelle focuses her practice on debt financing transactions and represents private equity groups, commercial lending institutions and other private and public companies in connection with the negotiation, structuring and documentation of secured and unsecured financing transactions for both borrowers and lenders, including senior, mezzanine and subordinated debt transactions, acquisition financings, and loan workouts and restructurings, including debtor-in-possession financings.
Michelle is listed in the 2010–2024 editions of Chambers USA, America's Leading Lawyers for Business and described in the 2010 edition as "talented, bright, creative and incredibly hard-working." Michelle is also listed in the 2020–2024 editions of Chambers Global, The World's Leading Lawyers for Business. She has been recognized from 2018–2024 by The Legal 500 U.S. as a Leading Lawyer in Commercial Lending and IFLR1000 as a Leading Lawyer in bank lending in 2013 and 2014.
Crain’s Chicago Business recently included Michelle on their list of "Chicago’s Notable Women Lawyers 2018." Additionally, in 2017, Michelle was awarded “Transaction of the Year: Mega Company” for her work with Texas Competitive Electric Holdings Company LLC by the Turnaround Management Association.
Experience
Representative Matters
Bain Capital Tech Opportunities and HGGC in their investment in Buildertrend
National Bank of Canada as debtor-in-possession lender in the Chapter 15 cases of The Aldo Group Inc. in the United States Bankruptcy Court for the District of Delaware. Aldo is a global leader in footwear fashion apparel with operations in over 100 countries
United Airlines in its $6.8 billion financing comprising of $3.8 billion of bonds and $3 billion of term loans secured by the airline’s MileagePlus loyalty program
Bain Capital and Dealer Tire, LLC in the acquisition of Dent Wizard
Bain Capital Private Equity in its acquisition of a majority stake in Imperial Dade
Pritzker Private Capital (PPC) and their portfolio company C.H. Guenther & Son LLC (CHG) on the acquisition of Wback GmbH from Halder
Bain Capital Private Equity in its acquisition of Rocket Software
AE Industrial Partners in its acquisition of Gryphon Technologies LC
Aegean Marine Petroleum Network Inc. and certain subsidiaries (“Aegean”), a leading international marine fuel logistics company with approximately $900 million of funded indebtedness, in their Chapter 11 cases filed in the United States Bankruptcy Court for the Southern District of New York. Aegean operates in more than 20 countries worldwide with headquarters in Athens, Greece and a corporate office in New York, New York. In connection with its restructuring, Aegean has reached agreements with certain key stakeholders to deleverage its balance sheet by more than $700 million and continue as a going concern
BMC Software in its sale to KKR
Bain Capital Private Equity in the recapitalization of TriTech Software Systems
Bain Capital Private Equity in its acquisition of Premiere Healthcare by portfolio company Aveanna Healthcare
Energy Future Holdings Corp. in its $18.8 billion sale to Sempra Energy
Bain Capital Private Equity in its $3.2 billion carve-out acquisition of Diversey Care from Sealed Air
Bain Capital Private Equity in its acquisition of Daymon Worldwide Inc.
Bain Capital Private Equity in its acquisition of Epic Health Services
GTCR and CAMP Systems International Inc. on the sale of CAMP to Hearst
Energy Future Holdings in its $18.7 billion sale of the company and its stake in Oncor Electric Delivery Co. to NextEra Energy
Bain Capital Private Equity and Vista Equity Partners in the agreement to jointly acquire Vertafore
$6.2 billion senior secured financing for Bain Capital and Golden Gate Capital, including a $4.5 billion senior secured loan and $1.7 billion unsecured bridge loan to finance the acquisition of BMC Software
$2.3 billion senior secured financing to finance the acquisition by Madison Dearborn Partners of Nuveen Investments, Inc.
$1.15 billion financing for Madison Dearborn Partners for the acquisition of a majority interest in TransUnion Corp. and a subsequent $900 million refinancing of TransUnion's term loan facility
$1 billion bridge financing commitment for the acquisition by Bemis of the Food Americas packaging business of Alcan Packaging, a division of Rio Tinto
$835 million senior secured term loan facility and $175 senior secured revolving credit facility for the acquisition by Bain Capital of Apex Tool Group, LLC
$284 million senior secured facility for Bally Total Fitness
$235 million refinancing for Affinity Gaming LLC
$74 million debtor-in-possession financing for Delta Air Lines in connection with the restructuring of Pinnacle Airlines Corp.
$175 million senior secured asset based loan facility for Navistar International Corporation
$1 billion senior secured term loan facility for Navistar International Corporation
$1.4 billion senior secured financing to finance the acquisition by Pamplona Capital Management LLP of Coinmach Service Corporation and AIR-serv Group LLC
$1 billion financing in a comprehensive out-of-court restructuring of YRC Worldwide Inc.
$7 million debtor-in-possession financing provided by The Boeing Company and Boeing Capital Loan Corporation in connection with Northstar Aerospace (USA) Inc.
More
Thought Leadership
Publications
“An Expert's View: Developments in the Large Cap Loan Market,“ Practical Law Journal, March 2023
“An Expert’s View: Trends in Large Cap Market Loan Terms,” Practical Law Journal, February 2015
Seminars
Panelist, “Point / Counterpoint: Analyzing Liability Management Transactions from the Lender and Borrower Perspectives,” NAWL/ACCFL Women in Financial Services Webinar, October 25, 2023
Panelist, “Legal Perspectives on Loan Market Trends,” LSTA Annual Conference, September 22, 2022
Speaker, “Leaving LIBOR: Strategies for a Successful Transition,” Kirkland Seminar, July 27, 2021
Moderator, “From Slow to Flow: Eyeing Leveraged Finance Opportunities Ahead,” Kayo Women’s Virtual Private Equity Summit, June 8–9, 2021
Panelist, “Restructuring and Rethinking Natural Resources,” Chicago Booth 14th Annual Credit Conference, Chicago, IL, March 8, 2019
Guest Speaker, The University of Chicago OverLeveraged presentation, Chicago, IL, March 7, 2019
Panelist, “Transition to SOFR and Ameribor: Legal and Accounting Implications for Large Institutions,” Transition to New Interest Rate Benchmarks: SOFR, Ameribor and Beyond Conference, The University of Chicago Law School, Chicago, IL, April 3, 2018
Panelist, “U.K. and U.S. Primary Loan Market: Trends and Deal Terms,” 2018 LMA & LSTA Conference, London, UK, March 7, 2018
Speaker: “Debt Financing from a Borrower’s Perspective: From Healthy LBO to Distressed Debtor,” Loan Syndications & Trading Association, December 3, 2014 and ABA Business Law Section Meeting, West Coast, April 17, 2015
Speaker, “Debt Financing from a Borrower’s Perspective: From Healthy LBO to Distressed,” ABA Business Law Section Meeting, Chicago, IL, September 12, 2014
Speaker, “Being Strategic About 24/7: Assignments, Committees and Community,” Women in Law Empowerment Forum, Chicago, IL, March 5, 2014
Memberships & Affiliations
American Bar Association
Illinois Bar
Member of the Chicago Lawyers’ Committee for Civil Rights Board of Directors
Member of Cradles to Crayons Chicago Corporate Advisory Council
Member of the City Year Chicago Board
Member of the Ohio Wesleyan University Board of Trustees
Fellow of the American College of Commercial Finance Lawyers
Credentials
Admissions & Qualifications
- 2002Illinois
Education
- The Ohio State University Moritz College of LawJ.D.with Honors2002
Order of the Coif
Joanne Wharton Murphy Award
Articles Editor, Ohio State Law Journal
- Ohio Wesleyan UniversityB.A., Politics & Governmentsumma cum laude, with Honors1999
Phi Beta Kappa
Mortar Board
Omicron Delta Kappa