Clifford Chance advises BlackRock on US$150 million financing

Leading international law firm Clifford Chance has advised BlackRock in connection with a US$150 million term loan facility for Puttshack, a tech-infused mini golf entertainment venue. The proceeds of the loan will support Puttshack’s rapid growth strategy in the United States as it continues to open venues in cities across the country.

Lead partner Andrew Young commented, “We were thrilled to support our longtime client BlackRock in this significant investment, and to be part of this exciting transaction for Puttshack. The deal was extremely complex and provided us with the opportunity to showcase a cross-border, multi-disciplinary team.”

The core debt financing team included Young, associate Thomas McGowan and law clerk Dennis Morrisroe in New York. The wider team supported across seven practice areas and involved lawyers from New York and London, including:

• Global Financial Markets: Partners Nicholas Kinnersley and Michelle McGreal, lawyers Jack Edwards and Harry Tiara
• Funds and Investment Management: Partner Kelly Labritz and associate Emily Dean
• Corporate: Partner Oliver Marcuse, counsel Matthew Warner, lawyers Amelia Bennet and Lianne Mizrachi
• IP: Partner Stephen Reese, senior associate Sean Wood and lawyer Molly Margiotta
• Tax: Partners Avrohom Gelber and Jemma Dick, associate Allison Kelly and trainee solicitor Augusta Thorneycroft
• ERISA: partner Paul Koppel and law clerk Milica Pavlovic
• Real Estate: Partner Jeanne Roig-Irwin, senior associate James Myles and associate Nina Binns

This transaction continues Clifford Chance’s long-standing work for BlackRock in the private credit space, including advising on its US$300 million term loan facility for Root, Inc.