Logo for print Skip to main content

About Catherine

Cathy has extensive experience advising public utilities and competitive energy issuers on securities offerings. She represents issuers, underwriters and institutional investors in the full range of debt, equity and hybrid securities offerings by such issuers, including offerings of first mortgage and collateral trust bonds, green bonds, unsecured notes, tax-exempt debt, debt for projects, high-yield debt, equity units, “put” securities and common and preferred equity. Her practice involves substantial utility mortgage and indenture work, asset-based finance, general corporate counseling, advice as to disclosure and compliance under the federal securities laws and corporate and financial restructuring advice. She also represents energy and utility companies in commercial lending transactions.

Cathy has advised initial purchasers and lenders providing “exit financing” to an investor-owned utility emerging from bankruptcy proceedings; advised investor-owned utilities on corporate and financial restructuring matters in connection with electric industry deregulation and disaggregation; advised utility companies as to “ring-fencing,” and represented a distressed utility in an out-of-court financial restructuring.

Cathy is ranked Band 1 in Energy: Electricity (Finance) in both Chambers USA (2019-2021) and Chambers Global (2019-2021). She has also been recognized by The Legal 500 United States for Project Finance (2019) and Energy: Renewable/Alternative Power (2019). Cathy is a fellow and former trustee of the American College of Investment Counsel, as well as a fellow of the American Bar Foundation.

She’s someone who has always commanded tremendous respect; people see her intellectual rigor and judgment and appreciate what she brings to the table.
Chambers USA, 2020

Experience

Recent Notable Matters

Evergy Missouri West, Inc. — purchasers’ counsel in $500 million private placement of senior notes

DTE Electric Company — underwriters’ counsel in offerings of over $2 billion of “green” bonds, including DTE Electric’s 2018 offering, which was among the first wave of offerings in the United States by an investor-owned utility to specifically support "green" investments

PPL Electric Utilities Corporation — offerings of $900 million of floating rate first mortgage bonds

DTE Energy Company — underwriters’ counsel in offering of $230 million of junior subordinated debentures

Duquesne Light Holdings, Inc. — initial purchasers’ counsel in 144A offering of $350 million of senior notes

DTE Energy Company — underwriters’ counsel in the offering of $800 million of senior notes

Darden Restaurants, Inc. — underwriters’ counsel in offering of 9,000,000 shares of common stock

Kentucky Utilities Company — $500 million offering of first mortgage bonds

PPL Capital Funding Inc. and PPL Corporation — $400 million in multiple term loans to PPL Capital Funding Inc., as borrower, and PPL Corporation, as guarantor

PPL Electric Utilities Corporation — $400 million first mortgage bond offering

DTE Electric Company — underwriters’ counsel in two offerings of $1.7 billion of mortgage bonds

DTE Energy Company — underwriters’ counsel in offering of $2.4 billion of securities, including equity units, common stock and senior notes, to fund the acquisition of midstream natural gas assets

Crédit Agricole Corporate and Investment Bank — as agent to the lenders in the $2.44 billion letter of credit facility for McDermott International in the successfully completed emergence from bankruptcy

DTE Energy Company — underwriters' counsel in $800 million senior notes offering*

DTE Gas Company — represent purchasers in two private placements of $530 million aggregate amount of DTE Gas Company first mortgage bonds*

DTE Energy — underwriters counsel in offering of $675 million of equity units and $1 billion of senior notes to fund purchase of midstream natural gas gathering assets,* and remarketing agents’ counsel in subsequent remarketing of notes that were components of equity units

Darden Restaurants, Inc. — underwriters' counsel in $500 million senior notes offering to fund purchase of Cheddar’s Restaurant Holding Corp.*

Louisville Gas and Electric and Kentucky Utilities — registered offerings of more than $1.5 billion of first mortgage bonds

PPL Corporation Kentucky subsidiaries — $2.9 billion Rule 144A/Reg. S offerings of secured and unsecured debt, including preparation of two new utility mortgage bond indentures in connection with acquisition of Kentucky utility subsidiaries and holding company*

DTE Energy Company — underwriters' counsel in connection with $300 million of junior subordinated debentures*

PPL Energy Plus LLC and affiliates — $800 million secured energy trading facility to provide credit support for trading operations*

Dealer managers — tender for senior notes of Darden Restaurants, Inc.*

DTE Electric Company and DTE Gas Company — represent purchasers in private placements of over $1.5 billion of bonds*

Darden Restaurants, Inc. — designated purchasers’ counsel in private placement of $300 million of senior notes*

PPL Electric Utilities — $223.75 million tax-exempt bond offering*

PPL Capital Funding Inc. — represent issuer in $500 million junior subordinated debenture offering*

* Work completed prior to Bracewell

Credentials

Education

Cornell Law School,
J.D.
1987
cum laude
Harvard University,
A.B.
1984
magna cum laude

Bar Admissions

New York

Affiliations

American College of Investment Counsel, Fellow and Former Trustee
American Bar Foundation, Fellow
American Bar Association, Infrastructure and Regulated Industries and Business Law Sections, Sections of Public Utilities, Communications and Transportation Law, and Business Law

News

News

Noteworthy

Noteworthy

Chambers Global
Energy: Electricity (Finance), 2019 - 2021
Chambers USA
Nationwide Energy: Electricity (Finance), 2019 - 2021
The Legal 500 United States
Finance: Capital Markets: Debt Offerings, 2020 - 2021; Finance: Project Finance, 2019; Industry Focus: Energy: Renewable/Alternative Power, 2019
BL Rankings
Best Lawyers
Energy Law, 2019 - 2022
Euromoney Institutional Investor PLC
IFLR1000 Financial & Corporate and M&A Guide
Capital Markets: Debt, Capital Markets: Equity, 2019 - 2022