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Michael Urschel leads our specialty finance and securitization team focusing on debt capital markets, securitization, private placements and specialty lending, with a particular focus on esoteric asset financing and acquisition financing of complex assets.  A member of our firm’s Financial Services leadership team, Michael advises our financial institutions clients on a variety of financing opportunities, regulatory matters and portfolio acquisitions and dispositions across the capital structure.  Michael also serves as a member of the firm's Business Review Committee.

Michael counsels banks, purchasers, sponsors and borrowers in a wide range of capital markets, lending and acquisition financing transactions.  He has structured and led dozens financings of numerous franchised concepts, digital infrastructure, cellular tower, data center and distributed antenna operators, solar and renewable energy assets, transportation assets, media royalties, outdoor advertising receivables, ground lease financing transactions and specialty real-estate lending platforms, among others.

Michael is recognized by Chambers USA and Legal 500 U.S., and has been profiled by Asset-Backed Alert.  Michael serves on the Structured Finance Committee of the New York City Bar Association and the Legal Counsel Committee of the Structured Finance Association, is a former Chairman of the Board of Directors of Make Music New York, Inc. and is the Editor of The Securitisation Law Review, published by Law Business Research Ltd.   

Full Bio

Credentials

J.D., University of North Carolina School of Law

M.B.A., University of North Carolina at Chapel Hill

B.S. Business Administration, University of North Carolina at Chapel Hill

Georgia

New York

North Carolina

Capital Markets: Securitisation


Chambers USA, 2020

Leading Lawyer


Legal 500 United States, 2019

Whole Business Securitization Spotlight Table


Chambers USA, 2019

"The thing that stands out about Michael is his commercial business sense."


Chambers USA, 2019, quoting contacts

Rising Star: Banking


IFLR 1000 US, 2018

Nationally Ranked


Chambers USA, 2019-2020

"Incredibly hard-working and driven."


Chambers USA, 2016

"A broad transactional practice, encompassing leveraged finance transactions and securitizations."


Chambers USA, 2016

"'A lot of these deals require a lot of outside-the-box thinking, and he's strong in that respect.'"


Chambers USA, 2016, quoting contacts

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Recognition

Capital Markets: Securitisation


Chambers USA, 2020

Leading Lawyer


Legal 500 United States, 2019

Whole Business Securitization Spotlight Table


Chambers USA, 2019

"The thing that stands out about Michael is his commercial business sense."


Chambers USA, 2019, quoting contacts

Rising Star: Banking


IFLR 1000 US, 2018

Nationally Ranked


Chambers USA, 2019-2020

"Incredibly hard-working and driven."


Chambers USA, 2016

"A broad transactional practice, encompassing leveraged finance transactions and securitizations."


Chambers USA, 2016

"'A lot of these deals require a lot of outside-the-box thinking, and he's strong in that respect.'"


Chambers USA, 2016, quoting contacts

Matters

Representing initial purchasers in dozens of whole business securitizations of franchise brands such as Taco BellArby’sApplebee’sHardee'sCarl's Jr.Jimmy John’sChurch’s ChickenTGI Friday’sAuntie Anne’sCarvelCinnabonMaaco, Meineke, Massage Envy, McAlister’s DeliMoe’s Southwest GrillJamba JuiceSchlotzky’sSonicIHOPPrimrose SchoolsWingstopServpro, Zaxby'sNothing Bundt Cakes, Authority Brands, ServiceMaster and Bojangles, among others.

Representation of initial purchasers, investors and issuers in multiple digital infrastructurewireless towerdistributed antennaefiberdata 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.

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Matters

Representing initial purchasers in dozens of whole business securitizations of franchise brands such as Taco BellArby’sApplebee’sHardee'sCarl's Jr.Jimmy John’sChurch’s ChickenTGI Friday’sAuntie Anne’sCarvelCinnabonMaaco, Meineke, Massage Envy, McAlister’s DeliMoe’s Southwest GrillJamba JuiceSchlotzky’sSonicIHOPPrimrose SchoolsWingstopServpro, Zaxby'sNothing Bundt Cakes, Authority Brands, ServiceMaster and Bojangles, among others.

Representation of initial purchasers, investors and issuers in multiple digital infrastructurewireless towerdistributed antennaefiberdata 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 royaltiestransportation assetssolar 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.

Matters

Representing initial purchasers in dozens of whole business securitizations of franchise brands such as Taco BellArby’sApplebee’sHardee'sCarl's Jr.Jimmy John’sChurch’s ChickenTGI Friday’sAuntie Anne’sCarvelCinnabonMaaco, Meineke, Massage Envy, McAlister’s DeliMoe’s Southwest GrillJamba JuiceSchlotzky’sSonicIHOPPrimrose SchoolsWingstopServpro, Zaxby'sNothing Bundt Cakes, Authority Brands, ServiceMaster and Bojangles, among others.

Representation of initial purchasers, investors and issuers in multiple digital infrastructurewireless towerdistributed antennaefiberdata 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.

See more
Icon close

Close

Matters

Representing initial purchasers in dozens of whole business securitizations of franchise brands such as Taco BellArby’sApplebee’sHardee'sCarl's Jr.Jimmy John’sChurch’s ChickenTGI Friday’sAuntie Anne’sCarvelCinnabonMaaco, Meineke, Massage Envy, McAlister’s DeliMoe’s Southwest GrillJamba JuiceSchlotzky’sSonicIHOPPrimrose SchoolsWingstopServpro, Zaxby'sNothing Bundt Cakes, Authority Brands, ServiceMaster and Bojangles, among others.

Representation of initial purchasers, investors and issuers in multiple digital infrastructurewireless towerdistributed antennaefiberdata 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 royaltiestransportation assetssolar 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.

Credentials

J.D., University of North Carolina School of Law

M.B.A., University of North Carolina at Chapel Hill

B.S. Business Administration, University of North Carolina at Chapel Hill

Georgia

New York

North Carolina

Capital Markets: Securitisation


Chambers USA, 2020

Leading Lawyer


Legal 500 United States, 2019

Whole Business Securitization Spotlight Table


Chambers USA, 2019

"The thing that stands out about Michael is his commercial business sense."


Chambers USA, 2019, quoting contacts

Rising Star: Banking


IFLR 1000 US, 2018

Nationally Ranked


Chambers USA, 2019-2020

"Incredibly hard-working and driven."


Chambers USA, 2016

"A broad transactional practice, encompassing leveraged finance transactions and securitizations."


Chambers USA, 2016

"'A lot of these deals require a lot of outside-the-box thinking, and he's strong in that respect.'"


Chambers USA, 2016, quoting contacts

Icon close

Close

Recognition

Capital Markets: Securitisation


Chambers USA, 2020

Leading Lawyer


Legal 500 United States, 2019

Whole Business Securitization Spotlight Table


Chambers USA, 2019

"The thing that stands out about Michael is his commercial business sense."


Chambers USA, 2019, quoting contacts

Rising Star: Banking


IFLR 1000 US, 2018

Nationally Ranked


Chambers USA, 2019-2020

"Incredibly hard-working and driven."


Chambers USA, 2016

"A broad transactional practice, encompassing leveraged finance transactions and securitizations."


Chambers USA, 2016

"'A lot of these deals require a lot of outside-the-box thinking, and he's strong in that respect.'"


Chambers USA, 2016, quoting contacts