Monetization of Energy Infrastructure Assets - Sale-Leaseback of Natural Gas Liquids Pipeline Gathering System
Represented publicly traded energy exploration and production company in connection with a $225 million sale-leaseback of a natural gas liquids pipeline gathering system.
$500 Million Syndication Credit Facility in Connection with IPO of Master Limited Partnership
Represented the joint lead arrangers and the administrative agent in connection with a $500 million revolving credit facility in connection with the IPO of MPLX L.P., a master limited partnership formed by Marathon Petroleum Corporation.
Deutsche Bank/Green Energy Team Hawaii Biomass Project
Represented Deutsche Bank Securities Inc., as Mandated Lead Arranger and Lender for a $76.1 million loan facility to fund construction of a 7.5-megawatt (net) biomass-to-energy facility on the island of Kaua'i, Hawaii.
$11.8 Billion Credit Facilties in Connection with Spinoff of Largest Independent U.S. Oil Refining Company
Represented the joint lead arrangers and bookrunners on the $11.8 billion syndicated financing ($4 billion revolving credit facility, $5 billion bridge loan, and $2.8 billion term loan) for Phillips 66, in connection with its spin off from ConocoPhillips to become a separate publicly traded company and largest independent refiner in the U.S.
$250 Million Senior Secured Syndicated Credit Facility for Propane and Refined Fuel Marketing Company
Represented lead arranger and bookrunner, and administrative agent, in connection with a $250 million secured syndicated revolving credit facility for Suburban Propane, L.P., a wholly owned subsidiary of Suburban Propane Partners, L.P., a publicly traded master limited partnership engaged in nationwide marketing and distribution of, propane, fuel oil and refined fuels, and marketing of natural gas and electricity in deregulated markets.
$2 Billion Syndicated Credit Facility for Master Limited Partnership
Represented lead arranger and administrative agent in connection with $2 billion syndicated credit facility for Enbridge Energy Partners, L.P., a publicly traded master limited partnership that owns and operates oil and natural gas transportation, storage, processing and marketing assets.
$1.5 Billion Syndicated Credit Facility for Publicly Traded E&P Company
Represented lead arranger and administrative agent in connection with a $1.5 billion syndicated credit facility for QEP Resources, Inc., a NYSE-listed leading independent natural gas and oil exploration and production company with operations focused in the Rocky Mountain and Midcontinent regions of the United States, and natural gas gathering, processing and storing assets.
$200 Million Hedged Crude Oil Inventory Credit Facility
Represented lead arranger and administrative agent in connection with a $200 million syndicated revolving credit facility for Sunoco Partners Marketing & Terminals L.P., a subsidiary of Sunoco Partners, L.P., a publicly traded master limited partnership engaged in the business of owning and operating crude oil and refined products pipelines and terminaling and storage facilities, and crude oil acquisition and marketing assets.
$350 Million Syndicated Credit Facility
Represented lead arranger and administrative agent in connection with $350 million syndicated revolving credit facility for Sunoco Logistics Partners Operations, L.P., a wholly owned subsidiary of Sunoco Logistics Partners L.P., a NYSE listed publicly traded master limited partnership engaged in the business of owning and operating crude oil and refined products pipelines and terminaling and storage facilities, and crude oil acquisition and marketing assets.
$7.5 Billion Syndicated Credit Facility - Integrated International Energy Company
Represented the joint lead arrangers and the administrative agent in connection with a $7.5 billion multicurrency revolving credit facility for an integrated international energy company.
Sale of Oil and Gas Properties
Represented Texas American Resources Holdings in the sale of its Denver-Julesburg Basin assets in Colorado and Wyoming for approximately $150 million.
$1.2 Billion Credit Facility - Natural Gas Pipeline Master Limited Partnership
Represented lead arranger and administrative agent in connection with $1.2 billion syndicated senior credit facility for ONEOK Partners, L.P., one of the largest publicly traded master limited partnerships (formerly known as Northern Border Partners), engaged in gathering, processing, storage and transportation of natural gas.
$125 Million Second Lien Debt - Negotiation of Intercreditor Agreement
Represent lead second lien term loan lender in connection with negotiation of intercreditor agreement and restructuring of $125 million second lien debt of a manufacturing company with operations in the U.S. and Europe.
$1 Billion Credit Facility - Pipeline Master Limited Partnership
Represented the lead arranger and the administrative agent in connection with the $1 billion syndicated revolving credit facility for El Paso Pipeline Partners Operating Company, L.P., the operating company subsidiary of El Paso Pipeline Partners L.P., a publicly traded master limited partnership and the largest operator of interstate natural gas pipelines in North America.
$200 Million Second Lien Loan - Acquisition of Oil and Gas Properties
Represent second lien lender and agent in connection with $200 million second lien loan for acquisition of Barnett Shale Properties, including negotiation of intercreditor agreement between first lien lenders and hedge providers and second lien lenders.
$1.2 Billion Credit Facility - Natural Gas Distribution and Marketing Company and Public Utility
Represented lead arranger and administrative agent in connection with $1.2 billion syndicated credit facility for ONEOK, Inc., a public company engaged in natural gas distribution and marketing, and providing service as a regulated public utility to wholesale and retail customers. It is the sole general partner of ONEOK Partners, L.P., one of the largest publicly traded master limited partnerships.
$1.5 Billion Syndicated Credit Facility
Represented the joint lead arrangers and the administrative agent in connection with the $1.5 billion senior syndicated credit facility for EQT Corporation, one of the largest natural gas producers in the Appalachian Basin, and the owner of a regulated natural gas distribution subsidiary, Equitable Gas.
$1.5 Billion Private Placement of Senior Notes
Represented NYSE-listed independent oil and gas company in connection with private placement of multiple series of senior notes in an aggregate amount equal to $1.5 billion.
Represent Lead Arranger in Syndicated Financing for the Owners of an NFL Team
Represented Sumitomo Mitsui Banking Corporation as a lead arranger and as the administrative agent in connection with syndicated financing for the owners of the Minnesota Vikings, an NFL team.
Bosque Power Company, LLC
Representation of Prepetition Agent and Working Group of Lenders in the 2010 Chapter 11 of Bosque Power Co LLC and its affiliates. The Texas-based electricity generation company borrowed approximately $410 million in January 2008 in part to fund a conversion of two of its combustion turbines. The Prepetition Agent and the Working Group of Lenders terminated the exclusivity period and confirmed a plan of reorganization in the fall of 2010.
$180 Million Private Placement of Senior Notes
Represent a leading marine terminal company as issuer of $180 million senior notes in a private placement transaction.
$350 Million Credit Facility - Oilfield and Technology Services Company
Represented lead arranger and administrative agent in connection with $350 million syndicated credit facility for FMC Technologies, Inc., a global provider of technologically sophisticated systems and products for the energy industry such as subsea production and processing systems.
$1 Billion Credit Facility - Global Engineering, Construction and Services Company
Represented lead arranger and administrative agent in connection with $1 billion multicurrency syndicated senior credit facility for KBR, Inc., a global engineering, construction and services company and the world's largest defense services provider, with employees and operations throughout the world.
$2.65 Billion Credit Facility - U.S. & Canadian Oil and Natural Gas Production Company
Represented lead arranger and administrative agent in connection with a $2.65 billion syndicated senior credit facility with Canadian dollar subfacility for Devon Energy Corporation, an independent oil and natural gas exploration and production company with operations focused onshore in the U.S. and Canada.
$500 Million Commercial Paper Program
Represented chemical manufacturing company as issuer in connection with negotiation of documentation for $500 million commercial paper program.
$1.3 Billion Acquisition Facility
Represented the administrative agent and arranger in a $1.3 billion secured acquisition facility to a publicly-held manufacturing company involved in the packaging and ceramics business.
$400 Million Syndicated Credit Facility - Fortune 500 Company Involved in Natural Gas Business
Representation of the administrative agent, and lead arranger and book manager, on a $400 million syndicated revolving credit facility for a Fortune 500 company engaged in the natural gas distribution and marketing businesses and 47.8 percent owner of a publicly traded master limited partnership engaged in the natural gas transmission and storage business.
$1.9 Billion Acquisition Financing - Publicly Traded Refineries
Represented lead arranger, book manager, administrative agent, and lender, in a secured syndicated $1.9 billion acquisition and working capital financing, including a revolving credit facility and a term loan, to finance the merger of two publicly traded companies. The merger created the fourth largest publicly traded independent refiner and marketer in the United States. The credit facilities were secured by first and second liens in multiple jurisdictions on refineries, pipelines, accounts receivable, inventory (including crude oil, refined products, and other inventory), and other collateral.
$750 Million Syndicated Facility - Midstream Energy Master Limited Partnership
Represented the administrative agent and the joint lead arrangers and joint book managers, on a $750 million syndicated revolving credit facility in conjunction with the IPO of a midstream energy publicly traded master limited partnership. The borrower owns and operates pipelines and associated underground natural gas and other storage facilities.
$100 Million 364-Day Revolving Credit Facility - Pipelines, Terminalling, and Storage Facilities
Representation of the administrative agent and joint lead arranger and bookrunner, on a $100 million, unsecured, syndicated, 364-day supplemental liquidity facility for a publicly traded master limited partnership to acquire, own, and operate a geographically diverse group of crude oil and refined product pipelines, terminalling, and storage facilities, and to engage in transporting, terminalling, and storage services.
$1.5 Billion Syndicated Credit Facilities - Natural Gas Industry
Representation of the administrative agent, lead arranger, and book manager, on a $700 million unsecured syndicated term loan facility and a $800 million unsecured syndicated revolving credit facility for a natural gas exploration and production, gas gathering, processing and storage, and energy trading company.
$1.5 Billion Secured Acquisition Finance - Oil and Gas Reserves
Represent the lead agent and arranger, in a syndicated secured acquisition financing (master note amount of $1.5 billion) financing the purchase of Michigan, Indiana, and Kentucky assets, secured by oil and gas reserves in multiple states. (M&A Deal of the Year under
Oil and Gas Investor’s Top Deals for 2007)
$400 Million Secured Acquisition Facility - Producing and Undeveloped Gas Fields
Represented a lender in a senior secured syndicated $400 million first lien revolving credit acquisition facility, secured by oil and gas properties in several states. This transaction also involved negotiation of a second lien secured credit facility. Proceeds were used for the acquisition of producing gas fields and undeveloped acreage in Texas, the Texas Gulf Coast, and Louisiana from EXCO Resources., Inc.