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About Kate
Kate Day focuses her practice on debt financings in the energy industry. She counsels global banks, direct lenders, corporate borrowers, and private equity portfolio companies. Kate has particular knowledge of energy transition and renewable energy financing, tax equity and tax credit transfers, reserve-based lending facilities, oil and gas, midstream, and downstream financings, project finance, green loans and sustainability-linked loans, asset-based loans, first and second lien intercreditor arrangements, acquisition and working capital facilities, leveraged and investment-grade financings, commodity finance, bond credit enhancement facilities, and hedging arrangements.
Kate also handles restructurings and workouts of loans across the energy industry.
Experience
Recent Notable Matters
Oil & Gas, Midstream, & Petrochemicals Finance
Lead lender — $3.75 billion unsecured, multi-borrower revolving credit facility to The Williams Companies, Inc., a publicly traded owner and operator of interstate natural gas pipelines and gathering and processing operations throughout the United States
Lead lender — $1.5 billion secured revolving credit facility to a midstream company that operates over 10,000 miles of energy infrastructure assets across 15 states
Bank of Montreal — $275 million secured revolving credit facility to publicly traded midstream MLP USD Partners LP, secured by hydrocarbon rail and crude oil terminaling facilities in Canada, Oklahoma, and Wyoming
Scotia Bank — $1.25 billion reserve-based revolver and term loan facility to Canadian oil and gas company Baytex Energy Corp. and its subsidiaries, secured by oil and gas properties in Texas
Lead lender — $750 million secured reserve-based revolver to publicly traded oil and gas mineral and royalty owner Kimbell Royalty Partners
Lead lender — $1 billion secured, reserve-based revolving credit facility to a private equity-backed oil and gas royalty company in connection with the acquisition of oil and gas assets in Wyoming
MUFG Bank — $5.1 billion project financing to a joint venture between Chevron Phillips Chemical and Qatar Energy in connection with the construction of a petrochemical plant on the Texas Gulf Coast, as Texas counsel
Petrochemicals company — $206 million construction financing and synthetic lease facility with respect to corporate headquarters of the company
Wells Fargo Bank — $585 million exit financing for global offshore drilling company Diamond Offshore Drilling, including approximately $400 million in a revolving credit facility, $100 million in a term loan, and over $85 million in privately placed notes
Renewables & Energy Transition Finance
Solar developer-operator — $85 million secured advancing holdco term loan facility provided by a direct lender, to fund sponsor equity contributions for a portfolio of solar projects across the United States
Synovus Bank — $45 million delayed draw term loan and a $10 million revolving credit facility to a rooftop solar power provider, secured by photovoltaic systems and customer power purchase agreements, including interparty agreements with funded tax equity
Synovus Bank — $15 million project financing consisting of a construction facility, tax equity bridge facility, and back-levered term loan, for the construction of a battery energy storage system in California
Riverstone Credit — $115 million senior secured advancing green loan facility with ESG-linked pricing to Harland & Wolff Group Holdings plc, a UK-based company operating in the maritime, defense, oil & gas and renewable energy sectors, including manufacturing equipment for UK offshore wind projects
Macquarie Bank — $37.5 million secured revolving credit facility to a private equity-backed biomass power generation company
Synovus Bank — $45 million purchase of investment tax credits from a developer-operator of a portfolio of battery storage projects in Texas
Synovus Bank — $115 million of investment tax credits and production tax credits from a developer-operator of a portfolio of renewable natural gas projects in Michigan and Wisconsin
Commodities Finance
Macquarie Bank — $529 million uncommitted secured revolving credit facility to an energy marketing and logistics company with operations throughout the United States and Canada
Macquarie Bank — $150 million uncommitted secured revolving credit facility in favor of agricultural commodities trading companies Ceres Global Ag Corp. and Riverland Ag Corp.
Macquarie Bank — $150 million secured uncommitted revolver to an international metals and commodities trading company
Macquarie Bank — $140 million of secured facilities to provide working capital, letters of credit, power and gas supply, and hedging to independent energy retailer Crius Energy Trust
Macquarie Bank Limited — restructuring of $160 million of secured facilities to provide inventory repurchase financing, cash advances, and financing of margin calls for an agricultural commodities company
Other
Comfort Systems USA — $850 million secured revolving credit facility for a nationwide commercial HVAC and construction company
San Antonio Spurs — $200 million of secured revolving and term notes facilities for NBA franchise, as part of the NBA Leaguewide Credit Facilities
Family foundation — over 15 separate below-market interest PRI loans and guaranties, targeting impact in the development of affordable housing and healthcare reform