Representative Matters

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Client: Large National Bank
Lender's counsel for a national bank in connection with a $45 million secured revolving credit facility to a group of companies that owns and operates dozens of drug stores and pharmacies across the upper Midwest.

In addition to customary due diligence and documentation, the transaction involved advising the client with respect to the retail nature of the borrower, ESOP ownership structure and potential issues with liquidating collateral consisting of prescription lists.