$75 Million Development Loan
Represented the mezzanine capital provider in the negotiation of a senior secured credit facility to finance the development of Permian Basin oil and gas properties. The facility involved an advancing line of credit secured by all of the borrower’s assets, including the oil and gas properties. The lenders under the debt facility additionally received a net profits interest in the oil and gas properties.
Debt and Equity Facility in Upstream and Midstream Oil and Gas Company
Represented the capital provider in the negotiation of a senior secured credit facility and equity investment to finance the acquisition and development of oil and gas properties and related midstream facilities located in the mid-continent region. The credit facility involved an advancing line of credit secured by all of the borrower’s assets, including the oil and gas properties and midstream assets. The lenders under the debt facility additionally received a net profits interest in the oil and gas properties and in the cash flow from the midstream system.
EnerVest Energy Institutional Fund XIII Credit Facilities
Represented EnerVest Energy Institutional Fund XIII in the negotiation, documentation and simultaneous closing of revolving credit facilities equal to $1.3 billion.
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.
$150 Million Senior Secured Credit Facility
Represented administrative agent and lender in a $150 million senior secured credit facility for a borrower focused on the exploration and development of Eagle Ford properties.
$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.
RP Holdings Inc. Restructuring
Haynes and Boone was engaged by RP Holdings Inc. in August 2011 to assist in its restructuring efforts. At that time, the company had just hired a new CEO, was facing liquidity challenges due to the nationwide stoppage of foreclosure prosecutions, and had completed internal audits showing a total of approximately $20 million was owed to it by its two largest customers. Its senior secured facility was due to mature in August 2012. In the fall of 2012, the company pursued a restructuring transaction with its private equity sponsors, the secured lenders and the two law firms, which failed to materialize on the eve of a possible closing in early January 2012.
$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.
$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.