Payment-in-Kind Interest Terms in Private Credit: Negotiating and Drafting, Structures, Benefits, Potential Pitfalls

Mr. Kramer represents investment funds and public companies in his broad-based corporate practice. Clients particularly seek his representation in connection with private investments in public equity (PIPEs), private credit transactions and mergers and acquisitions. A go-to transactional lawyer with broad and adaptable experience, Mr. Kramer offers clients creative, keen insights in addition to documenting deals, and is willing to jump in and handle whatever is needed to keep a transaction moving forward until it crosses the finish line. Having represented both issuers and investors, he understands deals from the perspective of each party, making him a skilled and effective negotiator.

Mr. Riess is the managing partner of Haynes Boone’s Charlotte office. His practice focuses on leveraged finance, specialty finance, private credit finance and syndicated lending. During his 21 years of practice, Mr. Riess has advised global financial institutions, corporate borrowers and private equity firms in syndicated lending transactions ranging from $50 million to $3 billion. He has experience in many industries including healthcare, franchise, defense and aerospace, food and beverage and financial services. In addition to corporate lending, Mr. Riess has represented banks and other lenders in loans to high-net-worth individuals. These individuals often have complex lending needs with collateral ranging from stock portfolios and real property to ownership interests in sports franchises, private planes and yachts. More recently, he has added experience in digital currency loans secured by specific mining equipment and various digital currencies.