Lia Toback

Partner in the Firm’s Capital Markets Practice and Alternative Capital and Private Credit team, Lia Toback has deep experience advising private equity sponsors, hedge funds, institutional holders, investment banks and companies on equity-linked offerings, complex structured equity, private capital transactions, high yield financings, debt restructurings, liability management transactions and other domestic and international capital raising transactions. Lia has a particular focus on the structuring, negotiation and execution of equity and equity-related transactions, including public and private convertible debt and equity, preferred stock issuances and control and minority equity investments, PIPE transactions and other equity-linked instruments.

Representative transactions on which Lia has worked include:

• The issuers in convertible notes and/or convertible preferred offerings of KKR, Axon Enterprise, Bentley Systems and Progress Software;
• The investment banks in convertible notes and/or convertible preferred offerings of Carnival Corporation, Marriott Vacations Worldwide, Shift4 Payments, TechTarget and Boston Scientific;

• Sirius XM Holdings in connection with multiple Rule 144A/Regulation S offerings by its subsidiary, Sirius XM Radio, totaling more than $12.5 billion since 2013;
• Community Health Systems in connection with multiple debt restructurings and high yield secured debt offerings totaling approximately $12.9 billion;
• GFL in connection with its IPO of subordinate voting shares and its concurrent public offering of 6% tangible equity units;
• Change Healthcare in connection with its IPO of common stock and its concurrent public offering of 6% tangible equity units; and
• Centerbridge Partners, GenNx360, the Wychwood Trust and certain of their affiliates in their capacities as the equityholders and the largest secured and unsecured creditors in the global financial restructuring of the syncreon Group B.V.

Lia has also advised on the capital markets aspects of major deals, including SiriusXM’s $3.5 billion acquisition of Pandora and K2M’s $1.4 billion acquisition by Stryker Corporation, and growth investments, including Blackstone in its investment in AZZ Inc.

Lia received her B.A. from the University of Pennsylvania, magna cum laude, and her J.D. from George Washington University, magna cum laude, where she was a member of the Order of the Coif. She is admitted to practice in New York.