Rebecca Keep's practice focuses on complex financial transactions. She represents both lenders and borrowers in large, syndicated and bilateral, secured and unsecured, financing arrangements, including acquisition and working capital facilities, asset based loans, reserve based loans, dividend recapitalizations, institutional term loans, first and second lien arrangements, bond financing credit enhancement and restructurings, with a focus on the energy industry.
Recent Notable Matters
Wells Fargo Bank, National Association — as lender, administrative agent and collateral agent in the successfully completed exit financing for Diamond Offshore Drilling, Inc. and certain affiliates. The exit financing included approximately $400 million in a revolving credit facility, $100 million in a term loan and over $85 million in privately placed notes.
Crédit Agricole Corporate and Investment Bank — as agent to the lenders in the $2.44 billion letter of credit facility and approximately $544 million in funded debt for McDermott International in the successfully completed emergence from bankruptcy
DCP Midstream — multiple financings, including a $1.4 billion revolving credit facility to DCP Midstream, LP, and a $424 million term loan facility in connection with DCP Midstream, LLC’s contribution of assets to DCP Midstream, LP, to form the largest NGL producer and gas processor in the United States
Lilis Energy, Inc. — $200 million of first and second lien financings, including a $150 million convertible second lien term loan facility
Multinational investment bank and financial services company — $500 million secured reserve-based revolving credit facilities to Lonestar Resources US Inc. in connection with its acquisition of oil and gas properties in the Eagle Ford Shale play
Lead investor — $300 million secured term loan and equity investment to the holding company for an independent oil and gas exploration and production company
Energy company — multiple financings, including a $5 billion bridge facility and a $4 billion revolving credit facility in connection with its acquisition of its master limited partnerships, establishing the largest midstream and third largest energy company in North America, including a cross-guaranty among entities and other debt to create a single creditor class and eliminate structural subordination, as borrower
Midstream natural gas services company — multiple financings, including a $2 billion unsecured revolving credit facility agented by Citibank, NA, a $400 million unsecured term loan facility agented by the Bank of Tokyo-Mitsubishi UFJ, Ltd, a $1 billion unsecured revolving credit facility agented by JPMorgan Chase Bank, NA and a $300 million unsecured delayed-draw term loan facility agented by Bank of America, NA
Great Plains Energy Inc. — $8 billion bridge loan from Goldman Sachs & Co. used to finance the pending purchase of Westar Energy with an approximate transaction value of $12.2 billion
Venoco, Inc. — issuance of its $175 million of first lien notes, $75 million secured term loan, and exchange of $194 million in principal and interest of its unsecured notes for $150 million of second lien notes. M&A Advisor named the transactions its 2015 “Deal of the Year,” out-of-court restructuring greater than $500 million.
Privately held exploration and production company — up to $450 million first lien reserve-based revolving credit facility and an up to $50 million second lien term loan facility