In the News

Haynes and Boone Advises in $73 Million Construction Loan for Hawaiian Biomass Facility Construction

A team of Haynes and Boone, LLP attorneys advised Deutsche Bank in arranging a loan to fund construction of a $73 million, 7.5-megawatt (net) biomass-to-energy facility near Koloa on the Hawaiian island of Kaua’i that will sell its output to Kaua’i Island Utility Cooperative (KIUC). >>



Brent A. Shultz

Associate

Houston


1221 McKinney Street
Suite 2100
Houston, Texas 77010
T +1 713.547.2012
F +1 713.236.5515

Areas of Practice

Education

  • J.D., University of Houston Law Center, 2011, magna cum laude; Order of the Barons; Executive Editor, Houston Law Review
  • B.A., Economics and Management, DePauw University, 2006, cum laude

Bar Admissions

  • Texas, 2011

Court Admissions

  • U.S. Tax Court

Judicial Clerkships

Intern, U.S. District Court for the Southern District of Texas, Houston, July-August 2009

Brent A. Shultz

As a transactional attorney in the Finance Practice Group, Brent Shultz focuses on the representation of financial institutions and borrowers in complex commercial loan transactions. More specifically, Brent has represented clients on syndicated credit facilities involving revolving credit facilities, term loans, letters of credit, and multi-currency financings, as well as oil and gas reserve-based financings and subscription line credit facilities. His industry specific experience includes energy, banking, financial services, construction, defense, real estate and a range of other industries.

Prior to joining Haynes and Boone, Brent was a financial analyst and strategic planner at ATA Airlines and was responsible for complex financial modeling, budgeting, and financial management. Brent earned his J.D. from the University of Houston Law Center, where he graduated magna cum laude and served as the Executive Editor of the Houston Law Review.

Selected Client Representations

  • Assisted in the representation of 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 Kauai, Hawaii.
  • Assisted in the representation of 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.
  • Assisted in the representation of RBS Securities Inc., Citigroup Global Markets, Inc. and Merrill Lynch as lead arrangers on the $11.8 billion syndicated credit financing, including a $4 billion revolving credit facility, a $5 billion bridge loan, and a $2.8 billion term loan for Phillips 66, which was spun off from ConocoPhillips to become a separate publicly traded company and largest independent refiner in the U.S.
  • Assisted in the representation of the 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.
  • Assisted in the representation of the 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.

Community Involvement

  • Young Professionals in Energy
  • Young Professionals in Finance
  • The Partnership for Baylor College of Medicine
  • The Women’s Home
  • Phi Delta Theta Houston Alumni Club
  • Young Professionals for Children (Child Advocates), Fundraising Chair (2012)
  • Avon Walk for Breast Cancer (2008-2009)
  • Friends for Life (2008-2009)

Selected Publications

  • "30th Annual Review of Developments in Business Financing - Focus on the Oil and Gas Energy Patch," contributor, with Theresa Einhorn, American Bar Association, Section of Business Law, March 2012.
  • "31st Annual Review of Developments in Business Financing - Focus on the Oil and Gas Industry," contributor, with Theresa Einhorn, American Bar Association, Section of Business Law, March 2012.
  • "Trends in Oil and Gas Financing," contributor, with Theresa Einhorn, featured in Here’s the Money: Capital Formation 2013, a supplement to Oil and Gas Investor (June 2013).

Selected Representative Experience


$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.