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Penny E. Zacharias Partner

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Pittsburgh T +1 412 667 7937 F fax +1 412 667 7954
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Penny serves as the office managing partner in the firm’s Pittsburgh office. She is an accomplished lawyer with over two decades of experience representing financial institutions, private credit funds, and borrowers in a broad range of lending transactions.

Penny focuses her practice on debt financing and secured transactions, including the structuring and origination of asset-based and acquisition financing, leveraged finance, mezzanine finance and large syndicated transactions. Secured lenders as well as companies in the security alarm, medical alert, and other industries with a recurring revenue model, rely on Penny’s expertise in those sectors. Penny also has experience with floor plan and heavy equipment financings.

Penny also advises domestic and international banking clients and investment firms in the areas of microfinance and impact investing. Notably, McGuireWoods was “Highly Commended” in Financial Times’ Accessing New Markets and Capital category for Penny’s representation of Developing World Markets in connection with the origination, placement and investment of proceeds from a first-of-its-kind off-grid, renewable and climate action note (ORCA).

Penny’s leadership roles at the firm include co-chairing the firm’s Women in Private Equity & Finance initiative, co-chairing the firm’s Asset Based Lending team and serving on the ESG Executive Committee. Penny previously chaired the Women’s Lawyers Network and previously served on the National Recruiting Committee.

Experience

Middle Market Commercial Lending and ABL Financings

  • Represented the administrative agent in connection with a $150 million term loan to a leading utility provider.
  • Represented the administrative agent in connection with a $100 million revolving credit and floor plan facility to a bus dealership.
  • Represented the borrower, an energy storage products and services company, in the refinancing of its $400 million credit facility.
  • Represented a leading financial institution in connection with a $200 million revolving credit facility for a leader in customized security and home automation solutions.
  • Represented a global leader in 3D printing machines, products, materials and services, in its $19 million sale-leaseback arrangement with a private, unaffiliated real estate investor.
  • Represented a diagnostic imaging solutions company in refinancing a term loan and revolving credit facility with a Pennsylvania-based regional bank.
  • Represented a pharmaceutical company in connection with its debtor-in-possession credit facility from a secured lender.
  • Represented Valesco Industries, a private equity firm, in its debt investment in ACCESS Destination Services, a leader in destination management services and event production.
  • Represented a global leader in advanced mine safety products and technology solutions in the refinancing of its $64 million debt facilities.
  • Represented a named agent in its participation in a $500 million unsecured credit facility for an engineering simulation software company to finance its acquisition of a software company.
  • Represented a premier provider of security solutions in a $450 million syndicated credit facility.
  • Represented lender in a $22 million senior financing for a borrower in the personal emergency response services industry.
  • Represented agent in a $150 million secured revolving credit facility for a borrower in the electronic security alarm industry.
  • Represented lender in a $35 million financing for a borrower in the home security alarm industry.
  • Represented the administrative agent in a $600 million secured asset-based credit facility for a borrower in the wire and cable, communications and security industry.
  • Represented two food distributors in an asset-based financing.

Impact Investing

  • Represented CONSOL Energy (NYSE: CEIX), a coal producer and exporter, in its $2.5 million debt and equity investment in CFOAM, an Australian-based carbon material producer.
  • Represented an investment fund in a note offering in the renewable energy sector.
  • Represented an investment fund in a microfinance loan program.
  • Represented a private credit fund providing financing to a women-owned aerospace business.

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