Michael L.
Urschel

Representing initial purchasers in dozens of whole business securitizations of franchise brands such as Taco Bell, Arby’s, Applebee’s, Hardee's, Carl's Jr., Jimmy John’s, Church’s Chicken, TGI Friday’s, Auntie Anne’s, Carvel, Cinnabon, Maaco, Meineke, Massage Envy, McAlister’s Deli, Moe’s Southwest Grill, Jamba Juice, Schlotzky’s, Sonic, IHOP, Primrose Schools, Wingstop, Servpro, Zaxby's, Nothing Bundt Cakes, Authority Brands, ServiceMaster and Bojangles, among others.

Representation of initial purchasers, investors and issuers in multiple digital infrastructure, wireless tower, distributed antennae, fiber, data center and related ground lease securitizations, including several first-in-class transactions and leveraging securitization of such business as acquisition financing.

Representing the joint lead arrangers and initial purchasers in connection an unsecured note issuance and revolving and term credit facilities to finance the merger of an affiliate of Arby’s Restaurant Group, Inc. and Buffalo Wild Wings, Inc. to form Inspire Brands and subsequent incremental financing for the acquisitions of Sonic Corp. and Dunkin' Brands and a follow-on secured notes offering.

Representation of the sole structuring advisor in two transactions which won International Financing Review's North America ABS/structured finance deal of the year, the $460 million term and revolving acquisition financing and subsequent whole business securitization of subsidiaries of Driven Brands, Inc. in 2015 and the over $550 million term and revolving securitization of Servpro in 2019.

Representation of Five Guys Burgers and Fries in connection with multiple securitizations of franchise royalties and company-owned store revenues.

Representation of initial purchasers and lenders in multiple additional esoteric asset classes, including media royalties, transportation assets, solar renewable energy credit receivables and outdoor advertising receivables.

Representation of private purchasers in multiple 4(a)(2) direct placements of esoteric securitizations and development of related private placement technology.

Multiple specialty leveraged finance facilities, including residual financings, structured device leasing and structured credit facilities for the origination of real-estate lending platforms.