Alabama-based Balch & Bingham has added its fifth Houston partner since opening an office in the Bayou City in January.
Eric Holland, who joins from Reed Smith, says Balch’s bank-facing platform was a better fit for his leveraged finance practice.
“I have represented primarily banks for my entire career, so it just made sense to join an organization with such a recognized place in the industry,” Holland said. “The size of the firm helps streamline business intake, and the cooperative nature of the firm provides a supportive environment for creating business opportunities, as well as the ability to provide the best client service in a more cost-effective manner.”
Holland says he represents banks of all sizes and that no deal is too big or too small. He has particular expertise handling transactions in the energy industry.
In recent months, Holland has advised lenders and borrowers on the “intricacies and pitfalls” of the Paycheck Protection Program and the Main Street Lending Facilities under the CARES Act.
“I had the opportunity to document one of the rare Main Street loans, so it was an exciting opportunity to be able to combine my traditional leveraged finance background with the regulatory scheme of the Main Street program requirements,” he noted.
Another “exciting deal” Holland has recently handled was an umbrella credit facility on behalf of an international bank that provided for the addition of U.S., Cayman and Irish borrowers.
“It was an intellectually engaging experience to work through all of the various cross-border issues with local counsel in those jurisdictions,” Holland said. “I was so impressed by how seamless the transaction closed, despite all of us working in a remote environment.”
Pointing to how markets have held up surprisingly well amid the global pandemic, Holland says most of his clients have a rosy outlook for the fourth quarter and into 2021. While many lenders on the energy side are looking at restructuring opportunities, there are talks of an uptick in acquisition finance and an increase in M&A activity.