Courtney D.E. Smith
Courtney D. E. Smith counsels clients in a wide range of commercial transactions. As a member of the firm’s Fund Finance practice group, Courtney represents agents, lenders, and borrowers in a variety of corporate finance transactions, with a focus on structuring, negotiating, and documenting subscription facilities. She has also represented lenders in complex project financings, fintech clients in the development of novel product offerings, and companies in transactions ranging from reorganizations and equity investments to asset sales. Courtney chairs Haynes and Boone’s Wellness Committee and serves on the firm’s Board Advisory Committee. She also served on the Board of Directors for The Network for Peace through Dialogue from 2007 to 2016.
- $3.4 Billion Subscription Financing. Represented administrative agent in $3.4 billion syndicated multicurrency revolving credit facility secured by the unfunded capital commitments of over 400 investors.
- $3.525 Billion Subscription Financing. Represented administrative agent in $3.525 billion syndicated multicurrency revolving credit facility secured, via a cascading pledge structure, by the unfunded capital commitments of nearly 400 investors.
- $364 Million Subscription Financing. Represented administrative agent in $364 million syndicated multicurrency revolving credit facility secured by the unfunded capital commitments of fund investors.
- $100 Million BDC Subscription Financing. Represented a business development company borrower in connection with a $100 million revolving credit facility secured by the unfunded capital commitments of its investors.
- $100 Million Subscription Financing. Represented administrative agent in $100 million syndicated multicurrency revolving credit facility secured by the unfunded capital commitments of fund investors.
- $800 Million Subscription Facility Refinancing. Represented administrative agent in the refinancing of an $800 million syndicated multicurrency revolving credit facility secured by the unfunded capital commitments of over 100 fund investors.
- $75 Million SMA Subscription Financing. Represented administrative agent in $75 million revolving credit facility secured by the unfunded capital commitment of the investor in a separately managed account (SMA) borrower.
- $40 Million SMA Subscription Financing. Represented administrative agent in $40 million revolving credit facility secured by the unfunded capital commitment of the investor in a separately managed account (SMA) borrower.
- $12.5 Million Employee Coinvest Facility. Represented a sponsor in connection with a $12.5 million employee coinvest facility.
- $90 Million Subscription Financing. Represented a fund borrower in connection with a $90 million revolving credit facility secured, using a cascading pledge structure, by the unfunded capital commitments of its investors.
- $144 Million Umbrella Facility Subscription Financing. Represented five separate fund borrower groups in connection with a $144 million umbrella facility secured, using a cascading pledge structure, by the unfunded capital commitments of their respective investors.
- $28.5 Million Subscription Facility Refinancing. Represented a fund borrower in connection with the refinancing of a $28.5 million revolving credit facility secured, using a cascading pledge structure, by the unfunded capital commitments of its investors.
- $75 Million SMA Subscription Financing. Represented administrative agent in $75 million revolving credit facility secured by the unfunded capital commitment of a state pension fund investor in a separately managed account (SMA) borrower.
- $175 Million Subscription Financing. Represented a fund borrower in connection with a $175 million revolving credit facility secured, using a cascading pledge structure, by the unfunded capital commitments of its investors.
- $75 Million SMA Subscription Financing. Represented administrative agent in $75 million syndicated revolving credit facility secured by the unfunded capital commitment of a state pension fund investor in a separately managed account (SMA) borrower.
- $60 Million SMA Subscription Financing. Represented administrative agent in $60 million revolving credit facility secured by the unfunded capital commitment of a state pension fund investor in a separately managed account (SMA) borrower.
- $25 Million Sustainability-Linked SMA Subscription Financing. Represented administrative agent in $25 million multicurrency sustainability-linked revolving credit facility secured by the unfunded capital commitment of the investor in a separately managed account (SMA) borrower.
- $100 Million Subscription Financing. Represented administrative agent in $100 million multicurrency revolving credit facility secured, via a cascading pledge structure, by the unfunded capital commitments of fund investors.
- $150 Million Subscription Financing. Represented administrative agent in $150 million revolving credit facility secured, via a cascading pledge structure, by the unfunded capital commitments of fund investors.
- $820 Million Subscription Financing. Represented administrative agent in $820 million syndicated multi-tranche revolving credit facility secured by the unfunded capital commitments of over 100 fund investors.
- Board of Directors for Network for Peace through Dialogue, 2007-2016
- “Fund Finance Insights: Capitalized Interest,” co-author, Haynes Boone client alert, October 31, 2023.
- "Structuring Credit Facilities for Private Equity Funds: Subscription, NAV, and Hybrid Loans," speaker, CLE Webinar for Strafford, July 13, 2023.
Education
J.D.,
Columbia Law School, 2012, Columbia Journal of Law and the Arts; Columbia Journal of Gender and Law; James Kent Scholar; Harlan Fiske Stone Scholar
M.A.,
Columbia University in the City of New York, 2006, summa cum laude
B.A.,
Trinity University, 2003, summa cum laude
Admissions
New York
With rising interest rates, recent articles1 have emphasized the prevalence, and dangers, of borrowers “deferring interest” via capitalization (aka a payment-in-kind provision, or “PIK provision”). A PIK provision essentially allows a borrower to add interest payments when due to the outstanding loan principal, instead of paying in cash when due, thereby increasing the unpaid balance of the loan a [...]
Media Highlights Diversity of Haynes Boone’s 2022 Class of New Partners
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