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In loan and equity investments, Bracewell’s finance lawyers  have an eye toward the dual goals of  lender protection and maximum upside flexibility, especially for borrowers whose credit risks justify higher returns. We advise clients in matters related to mezzanine,  first or second lien, and subordinated financings and the intercreditor and business issues associated with these types of transactions.  Our clients include domestic and international hedge and private equity funds, commercial banks and investment banks engaged in the business of lending to companies unable to obtain traditional financing, including companies undergoing financial restructuring or bankruptcy.  

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Recent Notable Matters

Apollo Investment Corporation — $175 million distressed secured second lien term loan facility to Miller Energy Resources, Inc., an oil and natural gas exploration and production company, secured by all assets of borrower and its subsidiaries, including oil and gas properties in Alaska and Tennessee, as administrative agent

HPS Investment Partners LLC — $200 million second lien secured term loan facility to an upstream oil and gas company, secured by substantially all assets of the borrower, including its real property in Texas, as administrative agent

HPS Investment Partners LLC — $210 million secured note purchase facility to HMS Kingfisher HoldCo, LLC and ARM Midstream, LLC, to fund the development and construction of a crude oil pipeline and gas gathering and processing facilities, as administrative agent and lead investor

HPS Investment Partners LLC — secured delayed draw down facility to a privately held exploration and production company owning and developing oil and gas assets in the Permian basin, secured by substantially all assets of the borrower, as administrative agent

WBH Energy Partners LLC — $31.5 million revolving second-lien, reserve-based mezzanine financing from an international private equity fund that is secured by upstream oil and gas assets located in the Barnett Combo play in Texas

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