Karl Beus

Practice Areas

Corporate and Finance

Commercial Lending

Business Restructuring and Insolvency

Information Technology Law

Commercial Contracts

Private Equity

Public/Private Partnership Law

Career

As a Partner and Co-Chair of Calfee's Corporate and Finance practice, Karl Beus counsels and represents borrowers and lenders in corporate and financing transactions.

For more than 25 years, Karl has provided legal and transactional advice to a broad group of clients, including Fortune 500 companies, commercial banks, investment banks, private equity firms, government agencies, developers and privately held borrowers in large, complex domestic and cross-border transactions such as leveraged financings, leveraged buyouts, recapitalizations, acquisitions, refinancings, project financings, public and private debt offerings and restructurings, equipment financings, derivatives transactions, debtor-in-possession financings and workouts. Karl also regularly assists corporate borrowers in capital structure planning and in optimizing domestic and international cash and treasury management systems.

In addition to his finance work, Karl works closely with corporate clients in structuring and negotiating complex commercial transactions, including domestic and international supply and distribution agreements, purchase contracts, joint ventures and technology agreements.

Karl began his tenure with Calfee in 1992 and was elected Partner in 2002.

Professional Memberships

American Bar Association, Member

Ohio State Bar Association, Member

Cleveland Metropolitan Bar Association, Member

Expert in these Jurisdictions

Ohio

Experience

Acted for the borrower, a multinational manufacturing holding company with $5+ billion in annual revenue, in refinancing and upsizing its syndicated multi-currency revolving credit and term loan facilities and the implementation of an interest rate hedge for the term loan facility.

Acted for the company in a refinancing/replacement of its syndicated receivables securitization facility. We negotiated transaction documentation, navigated inter-creditor issues, and managed the closing process, including the complex legal opinions that support these transactions.

Acting for the client in ongoing negotiations for certain amendments to and compliance issues arising under its $1+ billion energy concession. The representation entails ongoing compliance, documentation, and restructuring issues in connection with the client’s complex energy concession.

Acted for the client in designing, structuring, documenting, and implementing a procurement program for the deployment of certain funds reserved for the development of electric vehicle (EV) charging station infrastructure, including advising on all procurement-related and project finance issues. This matter involved the development of a structure and documentation package for the development of EV charging infrastructure and related procurement activities and closing on more than 30 EV project sites.

Acted for a medical products manufacturing client, serving as ABL credit facility borrowers’ counsel, in negotiating loan documents on behalf of the Company and certain of its U.S. and Canadian subsidiaries and new international holding company and part of the company's exit financing from bankruptcy. The specific matter involved a $40 million asset-based revolving credit facility.

Acted for a European private equity-owned borrower and loan parties in the negotiation of the forbearance of its split lien structure credit facilities (asset-based revolving facility and term loan facility) and the negotiation of the refinancing of both facilities.

Served as Counsel for a public-private-partnership in connection with the monetization of $80 million in parking assets for a Midwestern U.S. university.

Acted for RPM International Inc. (RPM) in a $400 million senior unsecured term loan, including a $100 million cross-border loan and related multicurrency fixed to floating rate swap transactions.

Acted for Installed Building Products, Inc. (IBP) in a $200 million senior secured asset-based credit facility, with related $300 million senior secured Term Loan B and unsecured $300 million high yield bond issuance.

Acted for a company in the minerals space in restructuring over $250 million in equipment purchase obligations.

Acted for a company in the minerals space in structuring $500 million in notional amount of multicurrency fixed to floating rate swap transactions.

Acted for The J. M. Smucker Company (JMS) in acquisition financing involving a Senior Unsecured $1.9 billion bridge financing commitment and Senior Unsecured $1.5 billion permanent term loan financing.

Acted for Applied Industrial Technologies, Inc. (AIT) and certain of its subsidiaries in a $175 million receivables securitization facility.

Acted for a large mining company in the restructuring of over $600 million in equipment lease obligations.

Acted for US subsidiaries of Continental AG in establishing a $500 million commercial paper facility.

Acted for Wells Fargo Bank in a $120 million syndicated secured loan facility with an automobile parts manufacturer.

Acted as counsel to RPM International Inc. (RPM) in the issuance of $350 million of senior unsecured notes and the concurrent redemption of $300 million in convertible notes.

Acted for a privately held manufacturer in the HVAC space with respect to a $120 million credit facility for the acquisition of a target with operations in the United States and Mexico.

Acted for Applied Industrial Technologies, Inc. (AIT) in acquisition financing involving a Senior Unsecured $1.2 billion bridge financing commitment and Senior Unsecured $1.03 billion permanent term loan financing.

Acted for a private equity sponsor in $45 million senior secured credit facility and unsecured mezzanine loan to a home products manufacturer.

Acted for a national bank in the restructuring of a $60 million secured loan to, and the ultimate workout and liquidation of, a sponsor-owned automotive parts manufacturer with operations in the United States and Mexico.

Acted for the agent bank in the restructuring of a $100 million syndicated secured loan to a sponsor-owned explosives manufacturer, leading ultimately to the sale of the company.

Acted for a national bank in the restructuring of a $40 million loan to a construction products company, resulting ultimately in a sale of the loan position at a discount.

Primary outside counsel to a national bank in connection with all distressed loan sales.

Acted as counsel to Chart Industries Inc. (GTLS) in a $450 million senior secured revolving credit and term loan financing.

Acted as issuer’s counsel to Chart Industries Inc. (GTLS) in an offering of $225 million of subordinated convertible notes (144A), with related call spread overlay.

Acted for the State of Ohio in connection with the Ohio Department of Transportation’s first (and only, to date) design/build/finance/operate and maintain procurement for a 16-mile, four-lane highway in southeast Ohio; the engagement included preparation of the procurement documents, including Public Private Agreement.

Represented a company operating in the home remodeling and repair business and assisted in obtaining distressed financing, the sale of an unprofitable subsidiary/business line, and defending the claim of an investment banker seeking a success fee for an alleged restructuring.

Education