At a Glance
Type of work | Transactional
Who you advise | Banks, credit funds, corporate borrowers
Pace | Deal-driven and fast, often tied to M&A timelines
Law school relevance | Secured Transactions (UCC), Contracts, Corporations, Bankruptcy
What Is It?
Finance lawyers advise on the legal aspects of corporate borrowing and lending. When a company needs to raise debt — whether to fund an acquisition, refinance existing obligations, or support day-to-day operations — finance lawyers structure and document the deal. This includes syndicated bank loans, high-yield bonds, revolving credit facilities, and the complex security arrangements that back them up.
What Will You Actually Do?
- Draft and negotiate credit agreements (the main contract between a borrower and lenders)
- Structure security packages — ensuring lenders have the right collateral
- Advise on financial covenants and borrower obligations
- Work alongside M&A teams on debt financings for acquisitions
- Help clients navigate restructurings when borrowers face financial stress
As a Junior Lawyer, Expect To…
- Draft and revise credit agreement provisions and intercreditor agreements
- Manage security documentation (pledges, guarantees, UCC filings)
- Conduct lien searches and track collateral
- Coordinate closing deliverables across lenders, borrowers, and guarantors
This Might Be a Good Fit If You…
- Are comfortable with technical, document-heavy work
- Want to understand the mechanics of how companies fund themselves
- Like working closely with M&A and PE teams on integrated transactions
- Enjoy the precision required in heavily negotiated contract language
Key Terms to Know
- Credit Agreement: The main contract that governs a loan — sets out the amount, interest rate, repayment terms, and borrower obligations.
- Covenant: A promise in a loan agreement — either to do something (affirmative) or not to do something (negative), like limiting additional debt.
- Collateral: Assets pledged by a borrower to secure a loan. If the borrower defaults, the lender can seize the collateral.
- Syndicated Loan: A loan made by a group of lenders (a ‘syndicate’) rather than a single bank — spreads the risk across multiple lenders.
- Intercreditor Agreement: A contract between different lenders defining their relative priorities and rights if a borrower defaults.