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Michael V. McKay

Experience     |     Education     |     Recognition     |     Activities     

McKay, Michael V.

Biography
Michael concentrates on finance matters, representing clients in various types of financing transactions with an emphasis on acquisition financings, leveraged financings, private equity financings, project financings, syndicated loans, and restructurings. Michael has been involved in numerous acquisition and private equity financings on behalf of private equity funds, borrowers, and lenders. He has extensive experience in domestic and international project financings representing financial institutions and developers in various transactions. Michael also has worked on a variety of general financing matters, including specialized structured financings, secured financings, subordinated financings, secured and unsecured letters of credit and syndicated revolving, term loan, and note purchase facilities.


Representative Experience
Acquisition Financing
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  • Represented a private equity fund in connection with the $1.175 billion multicurrency, multi-tranche secured financing of its purchase of a gas storage business located in Canada and the United States
  • Represented a private company in connection with the $2 billion term and revolving credit acquisition financing of oil and gas reserves
  • Represented a private company in connection with the financing of its acquisition of oil and gas reserves located in the states of Texas and Oklahoma
Private Equity Financing
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  • Represented an infrastructure fund in connection with the secured financing of its $500 million acquisition of a power plant located in Texas from a bankrupt entity
  • Represented several private equity funds in connection with revolving “subscription line” credit facilities secured by a pledge of capital commitments made by investors in those funds
  • Represented an Argentine portfolio company of a private equity fund in connection with the $110 million acquisition financing of a Uruguayan company
Project Financing
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  • Represented an infrastructure fund in connection with its role as one of two sponsors in connection with the $2.8 billion equity and debt project financing of a newly-constructed domestic gas pipeline
  • Represented an infrastructure fund in connection with the refinancing of a secured term and revolving loan facility provided to its portfolio company, the owner of a gas-fired cogeneration plant
  • Represented a developer in connection with the development of a geothermal power plant located in Africa
Syndicated Loan Financing
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  • Represented a domestic coal producer in connection with its $500 million secured revolving credit agreement 
  • Represented a pipeline master limited partnership in connection with its $700 million revolving credit agreement
  • Represented another pipeline master limited partnership in connection with its $550 million revolving credit agreement
Structured Financing
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  • Represented the underwriter in connection with $700 million securitization of electric utility's stranded costs
  • Represented a syndicate of international banks in connection with a $400 million future flow receivables financing of natural gas liquids receivables
  • Represented insurance company investors in connection with the purchase of $115 million of pass-through certificates issued in connection with the $140 million securitized leveraged lease financing of railcars
Restructurings
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  • Represented owners of power generation facilities in connection with negotiated deed-in-lieu transactions to resolve outstanding indebtedness 
  • Represented an offshore drilling company in connection with the financing and restructuring of its indebtedness
  • Represented a master limited partnership in the workout and restructuring of its bank and note indebtedness
Derivatives
  • Represented various companies in review and negotiation of ISDA documentation and related collateral documentation for interest rate and commodity hedging products 
Prior results do not guarantee a similar outcome.

Education and Professional Background
  • Georgetown University Law Center, J.D. magna cum laude, 1982 (Editorial Board, Georgetown Law Review)
  • Princeton University, A.B. magna cum laude, 1978
  • Admitted to Practice: New York, 1983; Washington, DC, 1991
Professional Recognition
  • The Best Lawyers in America® in mergers & acquisitions and securities law, 2005; in corporate law, 2005 - 2011
  • "New York Super Lawyer," New York Super Lawyers, 2006 - 2011
  • "New York Super Lawyer" in securities & corporate finance, banking, and business/corporate law, The New York Times Magazine, 2006 - 2008
Activities and Affiliations
  • Member: American Bar Association; Committee on Commercial and Uniform Laws, Association of the Bar of the City of New York


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Michael V. McKay
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666 Fifth Avenue
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New York, NY 10103-0040

Tel  +1.212.237.0115
Fax  +1.917.849.5311
mmckay@velaw.com

Industries/Practices
Energy

Finance

Liquefied Natural Gas (LNG)

Private Equity

Project Finance and Development

Restructuring and Reorganization

Syndicated Finance