Kathy Johnstone

Senior Of Counsel | Los Angeles

kjohnstone@mofo.com | (213) 892-5662

kjohnstone@mofo.com
(213) 892-5662

I take a global approach to a borrower’s debt structure and strive to provide for future plans and growth for companies.

Kathy has broad experience in all aspects of debt financing and specializes in representing public companies with multiple issues of outstanding debt. She has extensive expertise in acquisition financing, high-yield and investment-grade public debt offerings, and syndicated credit agreements.

Kathy focuses on her clients’ business objectives and immerses herself in all aspects of an entity’s capital structure. She structures transactions to minimize execution risk, takes a results oriented approach, and exercises adept problem-solving skills. Kathy has represented administrative agents, lenders, and borrowers in structuring and documenting secured loans, first-lien and second-lien loans, venture loans, and subordinated debt, and has represented issuers and underwriters in high-yield, investment-grade, and convertible debt. She has substantial experience in cross-border financing and companies with worldwide operations. She has worked with private equity funds from initial investment through investment realization and has worked with start-up ventures with a grow-through acquisition strategy. She has led successful out-of-court debt and equity restructurings.

Kathy has several long-standing relationships where she serves as lead outside counsel on all debt financings for her clients. She has represented clients across a variety of industries, including hotel and gaming, technology, public utilities, dental practice management, telecommunications, banking, and real estate development.

Kathy is a member of the American Bar Association and the California State Bar Association and served on the Uniform Commercial Code Committee of the State Bar from 1994 to 1997. She is also a member of the Financial Lawyers Conference and served on the board of directors of this organization from 2000 to 2003.

Prior to entering law school, Kathy practiced as a C.P.A., including two years with KPMG Peat Marwick’s Los Angeles tax department.

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Experience

  • Represent Boyd Gaming Corporation, a multijurisdictional gaming company, since 1997 in all of its debt financing. During 2012, completed the financing for Boyd Gaming’s $1.5 billion acquisition of Peninsula Gaming, including both a high-yield debt offering and a syndicated credit agreement for each of Boyd Gaming and Peninsula Gaming. Structured the financing aspects of the transaction with Peninsula Gaming as an unrestricted subsidiary under Boyd Gaming’s indentures to comply with Boyd Gaming’s existing outstanding debt.

  • Outside counsel to Southwest Gas Corporation on substantially all of its outstanding debt. During 2012, represented Southwest Gas, in its capacity as issuer, in connection with the structuring, negotiation, and documentation relating to the issuance of $250 million 3.875% Senior Notes due 2022; and in its capacity as borrower, in connection with the structuring, negotiation, and documentation of a syndicated unsecured $300 million revolving credit facility.

  • Represent Marina District Development Company since its initial construction financing in 2000, most recently in its capacity as issuer, in connection with the structuring, negotiation, and documentation relating to the issuance of $400 million 9.5% Senior Secured Notes due 2015, $400 million 9.875% Senior Secured Notes due 2018, and in its capacity as borrower, in connection with the structuring, negotiation, and documentation of a syndicated $150 million revolving credit facility, all of which is secured by a lien on the real and personal property at Borgata Hotel Casino & Spa, Renaissance Pointe, Atlantic City, New Jersey.

  • that is expanding on a growth by acquisition strategy, in its capacity as borrower in connection with the structuring, negotiation, and documentation of a $50 million rankimulticurrency secured revolving, term loan, and delayed draw term loan facility. Advised on significant tax, funding, and cross border issues.



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