Theano (Thea) Manolopoulou advises clients on structured and corporate finance with a focus on the energy industry, often acting on the development, financing and acquisition and disposition of energy infrastructure projects and oil and gas properties. She has advised a broad range of market participants, including U.S. and international financial institutions, borrowers, corporate trustees, corporate service providers and sponsors on complex transactions across the globe, in particular in European and North American markets.
Thea’s work spans a diverse number of financial areas, including asset based loans, acquisition and working capital facilities, reserve based loans, first and second lien arrangements, securitization, commercial mortgage backed securities and credit derivatives. She has recently acted on loan portfolio secondary trades and several debt restructurings on behalf of institutional clients with energy industry exposures.
A native Greek, Thea received her law degree in Greece before relocating to New York to continue her legal education. She has also advised international clients on matters relating to restructurings of Greek sovereign debt, asset backed securities issued by Greek entities and investments in Greece. Thea is licensed in New York, Texas and Greece, and has gained international experience practicing law in New York, London and Houston.
Recent Notable Matters
Independent Texas based oil and gas company — as buyer, in an agreement to acquire undeveloped acreage and producing oil and gas properties in the core of the Midland Basin for approximately $2.8 billion in cash and equity, and the release and payoff of the outstanding reserve based facility of the seller with a leading North American bank.
One of the largest North American banks — as administrative agent, in a variety of distressed debt, workout and payoff matters involving oilfield services companies with operations across North America and Europe
Leading European bank — as administrative agent, in the payoff of a $107.5 million senior credit facility and release of security over the assets and equity interests of a U.S. energy retail company. The mandate included the backstopping of and gradual replacement of over $50 million worth of letters of credit posted with local regulatory authorities across the U.S.
JPMorgan Chase Bank, N.A. — $300 million senior secured borrowing base revolving credit facility to Resource Energy used to acquire oil and gas assets in Divide County, North Dakota through the Chapter 11 section 363 bankruptcy process, as administrative agent
Wells Fargo Bank, N.A. — Clearlake Capital Group, L.P.’s successful recapitalization of Globe Energy Services, LLC, an oilfield services provider with more than 50 operating locations throughout Texas, New Mexico and Oklahoma, as administrative agent
Manufacturer of consumer and commercial automotive products — increase to the acquisition term loan commitments under a secured revolving credit, letter of credit, swing line, and term loan facility with Wells Fargo Bank, resulting in aggregate commitments of more than $212.6 million to fund the acquisition of additional assets, as borrower
Highbridge Principal Strategies — issuance of tranche B notes, as an add-on to a senior unsecured Note Purchase Agreement to an oil and gas company, as issuer, resulting in a total issuance of more than $139.9 million, as administrative agent
Citibank, N.A. — $900 million first lien senior secured borrowing base revolving credit facility to an Apollo Global Management, LLC portfolio company used to acquire oil and gas assets in the Anadarko Basin, Canadian and Kingfisher Counties, Oklahoma and extensive negotiations with GSO as second lien lender, as administrative agent
Administrative agent — amendments and waivers to a $ 500 million reserve base facility to allow for the re-conveyance of non-producing properties by a borrower operating offshore and onshore oil assets in California and Texas, and subsequent payoff of the facility and release of the relevant mortgages*
Administrative agent and first lien holder — $500 million borrowing base revolver to a borrower operating oil and gas assets in Colorado*
Corporate buyer — agreement to purchase an aftermarket energy services business; mandate involved corporate, financing, and real estate side-projects spanning Texas, Oklahoma, Colorado, Pennsylvania and Louisiana*
One of the nation’s leading financial institutions — joint bid with a major hedge fund for the purchase of a Bank of Scotland and Lloyds TSB distressed real estate loans portfolio*
Corporate trustee and supporting agents — Rule 144A/Reg S high-yield bond offering of €250 million by a Finnish bathroom ceramics producer under a New York law indenture*
Corporate trustee, registrar and principal paying agent — dual-tranche €2.7 billion Rule 144A/Reg S high-yield bond offering by an Italian telecommunications operator; transaction was reported in the Financial Times as the biggest of its kind in Europe since 2006*
Note trustee, principal paying agent, registrar and transfer agent — £265 million New York law high-yield bond offering by an acquirer of defaulted consumer debt in the U.K.*
* Work completed prior to Bracewell