Lowell A. Citron Partner and Chair, Lending and Finance Practice

New York
T 646.414.6819 | F 973.422.6809



Lowell’s ability to find creative solutions to complex legal issues has led to successful transactions for a wide range of commercial clients. His pragmatic approach to negotiating deals, coupled with an extensive background in finance and economics, gives him a keen understanding of the business issues involved in each transaction.

Lowell’s clients include hedge and private equity funds, large operating companies, large trade creditors, investment banks, money center financial institutions, REITs, and commercial finance companies. He advises on transactions ranging from acquisition financing to recapitalization and convertible debt financing, as well as Term B loans, workouts, DIP financings, leveraged loans, and mezzanine loans. He also handles asset-based financing transactions, and structures and closes cash flow transactions.

In addition to his legal work for the firm, Lowell applies his interpersonal and teaching skills as co-chair of the New York Office summer program, and demonstrates his commitment to charitable causes as a member of the Pro Bono Committee.

Principal areas of focus include:

  • Real estate finance transactions
  • Mortgage warehousing transactions
  • Bank workout transactions
  • Debtor-in-possession financings
  • Trade finance transactions
  • Factoring arrangements
  • Mortgage repurchase transactions

Representative Engagements

Served as lead counsel for the ad hoc committee of bondholders under Global A&T Electronics (GATE) 10% Senior Secured Notes due 2019.
Represented Cambium Learning Group, Inc., and its subsidiaries in a $175 million Rule 144A bond offering and in the company’s concurrent entry into a $40 million revolving loan facility with Harris N.A.
Represented Indorama Ventures Public Company Limited (IVL), a company listed on the Stock Exchange of Thailand, in its $420 million acquisition of the polyester manufacturing facilities of Invista. Also represented Auriga Polymers Inc., a subsidiary of IVL, in the negotiations of a $110 million acquisition loan facility from a commercial bank and a $90 million revolving loan facility from Regions Bank, the proceeds of which were used to acquire and operate the manufacturing facilities.
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Publications

Mind Your Ts and Cs (Terms & Conditions)
Business Credit, September/October 2016
Bruce Nathan, Lowell Citron, Chad Pearlman
Secured Transactions Chapter in New York Practice Guide: Business and Commercial
LexisNexis, 2003
Lowell Citron, Matthew Bender

Press Mentions

Lowenstein Sandler represented TRANZACT in its sale to private equity fund, Clayton, Dubilier & Rice. TRANZACT, the leading provider of direct-to-consumer sales and marketing solutions for insurance carriers in the United States, is a longtime firm client. This transaction represents the fourth time Lowenstein has been involved in the sale of a stake of this company. Terms of the transaction were not disclosed. The deal team included Steven Siesser, Traci Tomaselli, Anita Chapdelaine, Jonathan Goodman, Katie Cobb, Bryan Seelig, Jim Gregory, Darren Goodman, Megan Monson, Brian Silikovitz, Lesley Adamo, Lowell Citron, Chad Pearlman, Maureen MontagueVanessa Ignacio and John Wintermute. , June 9, 2016
Lowenstein Sandler is advising Diligent Corporation, the leading provider of secure online collaboration and document sharing solutions, in its definitive agreement to be acquired by Insight Venture Partners, a leading global venture capital and private equity firm. Under the terms of the transaction, stockholders of Diligent, a New Zealand Stock Exchange listed company, will receive $US 4.90 in cash for each share of Diligent stock, a consideration which values Diligent at approximately $US 624 million, including cash. The transaction remains subject to customary closing conditions, including stockholder approval, and is expected to close in the second quarter of 2Q 2016. Diligent will be a privately-held company upon closing. The Lowenstein team included Marita Makinen, Michael Reinhardt, Victoria Rutwind, Randall Dorf, Marc Lomasky, James Gregory, Darren Goodman, Michael Walutes, Lesley Adamo, Matthew Savare, Lisa Harvey, Lowell CitronTheodore Sica and Michael Brosse. , February 14, 2016
Lowenstein Sandler represented Pernix Therapeutics Holdings Inc. in its acquisition of the Zohydro® ER Franchise from Zogenix Inc. Under terms of the agreement, Pernix, through its wholly-owned subsidiary, Ferrimill Limited, paid Zogenix $70 million in cash, issued to Zogenix 1,682,086 shares of Pernix common stock and deposited an additional $10 million in cash in escrow to fund potential indemnification claims for a period of 12 months following the closing. Pernix also purchased certain Zohydro ER inventory. The Lowenstein deal team is led by Michael Lerner, Herschel Weinstein, and Park Bramhall, and also included Lowell A. Citron, Marc Kurzweil, Brian A. Silikovitz, Christina Iafe, Jack D. Sidorov, Jeffrey M. Shapiro, Hilla Shimshoni, Tara P. D'Orsi, Michael Amalfe, Sarah Saladini and Eugene Cheval. , April 24, 2015
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Related Areas

Corporate
Debt Finance
PIPEs, SPACs & Registered Direct Offerings
Transactions & Advisory Group

Education


Fordham University School of Law ( J.D. , 1994 ) , cum laude, Order of the Coif
State University of New York at Binghamton ( B.A. , 1991 ) , Honors in Economics

Bar Admissions


New York

Affiliations


  • Association for Corporate Growth, Member
  • Association of Commercial Finance Attorneys, Member
  • New York State Trooper Foundation, Member
  • Birchwood Civic Association of Jericho, New York, Board of Directors
  • Long Island Association of Football Officials
  • Valley National Bank Advisory Council