NEW YORK – Bracewell LLP represented Apache Corporation in a $4 billion senior revolving credit facility, with JP Morgan Chase Bank, N.A. serving as the administrative agent.
The credit facility combined Apache’s US dollar revolving credit facility and British pounds letter of credit facility and supports Apache’s worldwide business, including its North Sea operations. The transaction was led by the collaborative efforts of Bracewell’s lawyers in London, New York and Houston offices.
The new credit agreement, which has a maturity date of March 14, 2023, includes the option to increase the credit line by up to $1 billion. JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., RBC Capital Markets, HSBC Securities (USA) Inc., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Wells Fargo Securities, LLC, Goldman Sachs Bank USA, TD Securities (USA) LLC, and Mizuho Bank, Ltd. served as co-lead arrangers.
The transaction closed on March 14, 2018.
Bracewell lawyers involved in the transaction included:
Partners: Robin J. Miles, Olivia Caddy, Alastair Young and Michele J. Alexander
Counsel: J. Eric Holland
Associate: Charlotte Keenan and Ryan Davis