$100 Million Mortgage Pool Facility - International Investment Fund
Represented major national banking institution in mortgage pool facility for international investment fund secured by industrial and mixed-use real property in multiple states.
Freeport Power Refinancing
Acted as lenders counsel in the refinancing of an inside-the-fence cogeneration facility located in Freeport, Texas. Transaction involved (i) analyzing and advising the lenders on the underlying project documents and relevant regulatory requirements, (ii) advising the lenders on loan and security documents as they relate to Texas law, and (iii) preparing the Deed of Trust and other Texas security filings. Mizho Bank, Ltd. acted as mandated lead arranger and administrative agent, Sumitomo Mitsui Banking Corporation acted as mandated lead arranger and documentation agent, and the Bank of Tokyo-Mitsubishi UFJ, Ltd. acted as mandated lead arranger, technical bank, insurance bank, and modeling bank. Other parties involved in the transaction included Freeport Power Limited, as borrower, GDF Suez Energy North America and Toyota Tsusho Corporation (through subsidiaries), as project sponsors, and The Dow Chemical Company, as lessor, operator, and toller.
$161 Million Credit Facility
Represented lenders and investors in a $161 million credit facility and warrant issuance for a saltwater disposal company that services E&P companies in Texas and New Mexico.
Project Financing - Hawaiian Resort
Represented major national banking institution as lead agent in syndicated construction financing for a high-end beachfront resort in Hawaii.
Texas Wind Farm Financing
Represented construction lenders and energy hedge providers in Texas matters for secured project financing of the 200-MW Stephens Ranch Phase 1 wind farm.
Loan Restructuring/Workout - Commercial Real Estate Developer
Represented major national banking institution as lead agent in connection with the restructuring of the bank debt to a commercial real estate development company headquartered in California, including multiple revolving loans, term loans and construction loans.
Texas Wind Farm Project Financing
Represented Morgan Stanley Bank as construction lender and energy hedge provider in Texas matters for secured project financing of construction of 67-MW Windthorst - 2 wind farm sponsored by BlackRock.
$160 Million Senior Secured Advancing Term Loan and $10 Million Equity Investment
Represented investment firm in credit facility with oil and gas waste disposal company and corresponding equity investment in company. Proceeds were used to refinance existing indebtedness and fund an acquisition.
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.
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.
$60 Million Senior Secured Credit Facility
Represented administrative agent and lender in a $60 million senior secured credit facility and equity kicker agreement with a borrower in the oil and gas waste disposal business.
Frac Diamond Aggregates LLC
Represented Spectrum Origination LLC in its capacity as administrative agent and lender under a $30.8 million credit facility for Frac Diamond Aggregates LLC and Alliance Consulting Group, LLC . FDA used the proceeds of the credit facility to acquire a 1,700-acre sand mine and related assets from the debtor, free and clear of all liens, claims, interests and other encumbrances, pursuant to 11 U.S.C. §§ 105 and 363. ACG used the proceeds of the facility for the construction of a related sand drying and storage facility. The facility was secured by the sand mine, drying facility, and related assets, including the borrowers’ rights under certain storage and supply agreements, construction agreements, and other project documents.
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.
Panda Ethanol, Inc.
Haynes and Boone represented Panda throughout the development, as sole counsel, and in the final project financing as co-counsel in a complex $188 million debt financing of its 100 million gallon-per-year ethanol facility employing novel technology in Hereford, Texas. Senior debt financing consisted of a $158.1 million senior secured credit facility which includes a $5 million working capital facility and a letter of credit supporting $50 million in tax-exempt bonds that were issued by the Red River Authority of Texas. Additionally, the project financing included a $30 million subordinated debt credit facility.
$930 Million Workout and Bankruptcy - Homebuilder
Represented the administrative agent in connection with the restructuring of revolving bank debt of a homebuilder, including the collateralization thereof and coordination with other creditor constituencies, and in the subsequent bankruptcy.
$1.1 Billion Loan Restructuring - National Homebuilder
Representation of the administrative agent in connection with the restructuring of the bank debt to a homebuilder headquartered in California, including revolving debt and two tranches of term debt.
Debt Restructure and Collections
Represented Southwest Savings Association, Bonnet Resources, Amresco, and Sunbelt Savings Association in connection with the collection of hundreds of loans including, real property foreclosures, personal property foreclosures, litigation, demands for payment, restructurings, and bankruptcies. These loans covered all industries and involved many novel factual and legal issues.
Restructuring of Letters of Credit Securing Tax Exempt Bonds - Real Estate Developer
Represented a lender in connection with its numerous loans to a major Dallas real estate developer, including many letters of credit issued to enhance tax exempt bonds issued on behalf of the developer. The workout spanned a number of years and a number of loans, many of which were refinanced by other lenders, and some of which involved conveyance of certain properties by deed in lieu of foreclosure to an affiliate of the lender.