
Heather Waters Borthwick
Partner
Areas of Focus
- Capital Solutions
- Private Credit
- Corporate & Finance
- Preferred Equity & Hybrid Capital
- Private Capital
- Credit Funds
- Leveraged Finance
- Represents private credit investors and other asset managers on financing transactions.
- Focuses on the performing private credit market.
- Regularly advises on direct lending and cross-border private credit transactions, acquisition financings, refinancings, recapitalizations and hybrid capital deals.
Heather represents many of the market’s most active private credit investors, direct lenders and other investors on complex financing transactions.
Her practice focuses on front-end private credit investments across the capital structure. She regularly advises on debt financings and other bespoke capital solutions transactions, including:
- Senior secured term loans and revolvers
- Delayed-draw and incremental term loans
- Payment-in-kind (PIK) and synthetic PIK structures
- Super-priority revolvers by 3rd party lenders (including intercreditor arrangements)
- Preferred equity participations and warrants.
Heather regularly handles cross-border financings involving non-U.S. borrower structures and guarantee/security packages.
She also has extensive experience in the broadly syndicated lending market, where she has represented private credit investors and other financial institutions in leveraged buyouts, tack-ons and dividend recapitalizations.
EducationJ.D., New York University School of Law
B.S., Johns Hopkins University
J.D., New York University School of Law
B.S., Johns Hopkins University
Bar AdmissionsNew York
New York