Overview

David Surbeck is a Philadelphia and New York financial services attorney who represents lenders (including regional, national and international banks, debt funds and other lending institutions) and corporate borrowers, in various banking and commercial finance transactions, correspondent banking, municipal finance, structured and securitized finance, and restructuring and workouts.

Mr. Surbeck advises clients in syndicated, club and single lender transactions, including various secured and unsecured, and specialty collateral structures. In addition, he handles various senior, split-lien and junior financing structures, including cash flow and asset-based financing, sponsor and acquisition financing, Employee Stock Ownership Plans (ESOP) financing and fund finance. His work includes a wealth of experience representing lenders and borrowers in a variety of industries, including mortgage servicing, healthcare, government contracting, heavy equipment, construction and mining, energy, publishing, law firm lending and security services.

Experience

  • Represented an administrative agent and lead lender in $400 million syndicated revolving credit facility for privately held regional grocery and convenience store company
  • Represented an administrative agent and lead lender in $175 million syndicated revolving credit facility for regional heavy equipment dealer
  • Represented an administrative and lead lender in $250 million syndicated secured revolving credit facility for publicly held company with an international payday lending and pawn shop business.
  • Represented an administrative agent and lead lender in $220 million syndicated secured revolving credit facility for publicly held master limited partnership with a national cemetery and funeral home business.
  • Represented an administrative agent and lead lender in dual syndicated secured revolving credit facilities aggregating $200 million for privately held affiliated entities with a regional gas station business.
  • Represented an administrative agent and lead lender in $150 million syndicated secured revolving credit facility for privately held mining and construction company.
  • Represented a national bank in $25 million secured term and revolving facilities for commercial equipment sale and lease company.
  • Represent a national bank in $20 million secured term and revolving facilities for acquisition of minority small business government contracting business.
  • Represented a purchaser of $40 million of existing and newly issued municipal bonds supporting a California community nonprofit hospital's exit from bankruptcy.
  • Represented an international music publishing company in $50 million multitranche secured financing, with agented senior and mezzanine facilities and seller debt to provide financing for a 49 percent Employee Stock Purchase Plan (ESOP) stock purchase.
  • Represented a national specialty financing company in structuring expedited payment program for municipalities to finance account payables obligations intended to grow into securitized structure, and documenting initial $40 million facility.
  • Represented a regional retail store in connection with $35 million multibank, government-backed financing for exit from bankruptcy.
  • Represented the largest independent franchisee of national doughnut chain in $25 million leveraged secured financing transaction with a Small Business Investment Company (SBIC) lender.
  • Served as bond counsel to a regional hospital group in connection with more than $1 billion of municipal bond and equipment financing issuances over the last decade.
  • Represented a lead agent with respect to $150 million secured revolving warehouse facility for chassis and container business.

Credentials

Education
  • Temple University, Beasley School of Law, J.D., cum laude
  • University of California, Berkeley, B.A.
Bar Admissions/Licenses
  • New York
  • Pennsylvania
Memberships
  • American Bar Association
  • Association for Corporate Growth
  • The ESOP Association
Honors & Awards
  • Chambers USA – America's Leading Business Lawyers guide, Banking & Finance, 2012-2017, 2019

Speaking Engagements

News