Carl H. Fridy

Senior Counsel
Tel 215.864.8726
Fax 215.864.9178

Carl H. Fridy is the former Practice Leader of Ballard Spahr's Commercial Finance Group. He has significant experience in secured and unsecured commercial lending, real estate and construction finance, letter-of-credit-backed and other tax-exempt bond financings, and the workout and restructuring of troubled loans. Carl's principal clients are commercial banks, but he is also experienced in representing corporate clients in sophisticated financing transactions.

Representative Matters

  • Represented a major commercial bank as purchaser of multiple series of tax-exempt bonds issued on behalf of a health-care provider secured by obligations issued under a master trust indenture
  • Represented the lead bank in the $70 million syndicated letter-of-credit-enhanced tax-exempt bond financing for a large regional continuing care community
  • Represented the agent bank in the syndicated $1 billion revolving credit facility and separate $500 million term loan facility to a major public utility company
  • Represented the agent bank in the $75 million syndicated financing of a national real estate investment trust's portfolio of unencumbered real estate assets
  • Represented the lead bank in a syndicated $700 million combined revolving credit and term loan facilities to an affiliated group of health-care insurance companies
  • Represented a Major League Baseball franchise in connection with the financing of a new stadium, involving revolving credit and construction loans, and separate securitizations of various revenue streams

Pro Bono Experience

Participates in Philadelphia READS Program

Participates in Homeless Advocacy Project clinics

Professional Activities

American Bar Association, member, Business Law Section, Commercial Financial Services Subcommittee; member, Real Property, Probate and Trust Law Section, Real Property Division

American College of Commercial Finance Lawyers, former Regent

Recognition & Accomplishments

Chambers USA, banking and finance, (Pennsylvania), 2003-2020

The Best Lawyers in America, banking and finance law, equipment finance law, 1995-2021; "Lawyer of the Year," Equipment Finance (Philadelphia), 2014, 2019

Speaking Engagements

Occasional speaker and panelist at continuing legal education programs, including multiple Pennsylvania Bar Institute programs on commercial lending

Duke University School of Law (J.D. 1973)

Trinity College (B.A. 1969)