FacultyFaculty/Author Profile

Thomas M. Canning

CoveView Advisors LLC
Managing Partner
Stamford, CT, USA


Thomas M. Canning is a Managing Partner of CoveView Advisors LLC, a corporate finance and restructuring advisory firm established to assist companies and creditors with challenging situations arising from operational and financing difficulties.  CoveView was established in April 2009 by Mr. Canning, Doug Traver and Dan Tredwell. 

Tom Canning spent 27.5 years of J.P. Morgan and its predecessors.  He has extensive experience in capital markets transaction origination with a focus on leveraged finance, most recently with restructuring clients.  From March 2003 to October 2007 Mr. Canning was a Managing Director in J.P. Morgan’s Restructuring Group with responsibility for capital markets transaction origination and client coverage for stressed, distressed and chapter 11 debtor companies.  In addition, he worked on acquisition financing transactions for other clients.  He has extensive experience in transaction team leadership and contact with CEOs, CFOs, CROs and senior legal and financial advisors for the client firms.

Among his client matters were the following:

  • Bookrunner/arranger of out-of-court financings for Bally Total Fitness, $284mm; Blockbuster, $150mm (convert); Centerpoint Energy, $2bn; Commonwealth Edison, $1bn; Conseco, $675mm; Eddie Bauer, $225mm loan and $75mm convert; Federal Mogul, $3.5bn; NewPark Resources, $150mm; and TECO Energy, $180mm.
  • Bookrunner/arranger of debtor-in-possession credit facilities for Aurora Foods, $50mm; C-BASS, $355mm; Calpine Corporation, $5bn; Collins & Aikman, $150mm; Dana Corporation, $1.45bn; Federal Mogul, $540mm; Fleming Companies, $150mm; and Northwest Airlines, $1.255bn.
  • Underwriter of backstopped rights offerings of common shares for Northwest Airlines, $750mm; and Owens Corning, $2.2bn.
  • Bookrunner/arranger of $2.04 bn acquisition financing for the purchase by GE and Southern Union Company of Transwestern and Florida Gas Transmission from the Enron estate.

Mr. Canning has extensive relationships among restructuring industry professionals and has presented at American Bankruptcy Institute conferences and at a Harvard Business School symposium.

From 2001 to 2003 Mr. Canning was in J.P. Morgan’s London office and played two roles while there: as Co-Head of Credit Risk Management, Investment Bank in EMEA from 2002 to 2003; and as Co-Head of  Credit Origination, Investment Bank in EMEA from 2001to 2002.

From 1988 to 2001 Mr. Canning was a Senior Partner and Team Leader in Global Syndicated Finance.  He served as a leveraged finance and syndications originator, and managed a team of people, in the firm’s market-leading business.  He became a Managing Director in 1993.  He was responsible for heading the largest of four capital markets teams and had responsibility for private equity sponsors, natural resources, real estate, financial services, filmed entertainment and middle market clients.  Client matters included Allied Waste, Time Warner, Simon Properties, Smurfit Stone Container, Waste Management, and Wyndham Hotels.

From 1986 to 1988 he served as Assistant Vice President for Integrated Resources, Inc.

His banking career began at Manufacturers Hanover Trust Company in 1980 as a Management Trainee and he worked until 1986 in a client management role with corporate clients based in mid-town Manhattan.

Mr. Canning has a B.A. degree from Fordham University and an M.B.A. from University of Toronto.
 

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