Haynes and Boone Represents New York Philharmonic in Financing for Geffen Hall Renovation
Haynes and Boone represented the New York Philharmonic in connection with financing that will allow it to speed up the planned $550 million renovation of David Geffen Hall at Lincoln Center for the Performing Arts.
Partner Alex Grishman led the Haynes and Boone deal team representing the Philharmonic in the financing, with assistance from two of his colleagues in the firm’s New York office: Partner Daniel Lisk and Associate Eitan Stavsky. First Republic Bank was represented by Norton Rose Fulbright. Lincoln Center for the Performing Arts was represented by Patterson Belknap Webb & Tyler LLP.
About $500 million has been raised for the renovation of David Geffen Hall, the vast majority coming from private sources, the Philharmonic and Lincoln Center announced.
Originally, the renovation project was to be done in stages that would allow the orchestra to remain in the hall some of the time. Concert cancellations because of COVID-19 allowed construction to begin earlier than planned.
“Our accelerated renovation plan for David Geffen Hall allows us to make the most of COVID-19 closures to complete the renovation process faster and more efficiently, without stops and starts,” Deborah Borda, Linda and Mitch Hart president and CEO of the New York Philharmonic, said in an April 5 statement.
Adam Cox, executive director of the New York Philharmonic, said: “Haynes and Boone played a critical role in allowing the New York Philharmonic and Lincoln Center to accelerate the renovation of David Geffen Hall. Because of the deep expertise and experience of Alex and his team, we were confident throughout this complex negotiation. We are grateful to have had them as partners.”
Haynes and Boone’s Finance Practice Group has handled hundreds of deals worldwide in recent years. The firm structures new and sophisticated financing vehicles that fit the business needs of its clients, and it brings together lenders and borrowers to make deals. The Loan Pricing Corporation Law Firm League Tables, a national ranking of law firms handling syndicated loan transactions on behalf of lead arrangers, agents, or borrowers, has consistently ranked Haynes and Boone among the top 15 firms in the U.S. in terms of total volume of syndicated loans handled by the firm on behalf of lenders.