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About Robin
Robin Miles has dedicated his entire legal career to Bracewell, representing chemical and energy companies, banks, investment banks and investors in senior and subordinated debt financings, acquisition and project financings, structured financings, leveraged buyouts, securitizations, structured commodity arrangements, precious metal leasing, receivables factoring, trade financings, derivatives, restructurings and DIP financings.
In 2022, Robin guided Targa Resources Corp. in its $2.75 billion revolving credit facility with Bank of America, N.A., as the lead arranger, which migrated the credit facility from Targa’s master limited partnership and included an automatic switch to investment grade terms upon Targa’s receipt of an investment grade rating.
Experience
Recent Notable Matters
APA Corporation — $1.8 billion revolving credit facility and £1.5 billion letter of credit facility, as borrower, with Apache Corporation as guarantor and JPMorgan Chase Bank, N.A., as administrative agent
Targa Resources Corp. — $2.75 billion revolving credit facility with Bank of America, N.A., as lead arranger, with an automatic switch to investment grade terms upon receipt of an investment grade rating
Ferrellgas, L.P. — $350 million secured revolving credit facility with JPMorgan, as lead arranger, its $1.475 billion in new senior unsecured notes due in 2026 and 2029, and its $700 million in senior preferred equity, all of which were used to refinance all of its debt and permit its parent company to emerge from Chapter 11
Natixis — secured acquisition financing to acquire Ranger Airshop Holdings, Inc., an air shipping pallet company, secured by substantially all assets of the target, as administrative agent
DT Midstream — $750 million revolving credit facility and $1 billion term loan B, in connection with its spin-off from DTE Energy Company, as borrower
Carlyle International Energy Partners — finance counsel in The Carlyle Group’s acquisition of Occidental’s entire onshore portfolio in Colombia for a total consideration of $825 million
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
Crédit Agricole Corporate and Investment Bank — $2.8 billion financing facility in prepackaged Chapter 11 restructuring transaction for McDermott International, as agent to revolving debtor-in-possession (DIP) lenders
Crédit Agricole Corporate and Investment Bank — $1.7 billion new financing for McDermott International which includes immediate access to $650 million of financing comprised of $550 million under a term loan credit facility and $100 million under a letter of credit facility, as lead arranger and revolving administrative agent
Ferrellgas, L.P. — in a Rule 144A and Regulation S offering of $700 million aggregate principal amount of 10.000% Senior Secured First Lien Notes due 2025
Ferrellgas Partners, L.P. — in its secured $300 million revolving credit facility and $275 million term loan facility with TPG Specialty Lending, Inc., as administrative agent, and a $250 million accounts receivable securitization with Wells Fargo Bank, N.A, as administrative agent
AP Energy Holdings Inc and South Field Energy LLC — $1.3 billion project financing and equity arrangements for the construction of the South Field Energy project, a 1,182 megawatt combined-cycle natural gas electric generating facility located near Wellsville, Ohio
Apache Corporation — $4 billion senior revolving credit facility involving the combination of US dollars and British pounds to support Apache’s North American and North Sea operations, as borrower
Altus Midstream LP — in connection with its $650 million revolving credit facility
Gray Oak Pipeline and Phillips 66 — in a $1.23 billion delayed draw term loan credit facility, in connection with the construction of the Gray Oak Pipeline, an 850 mile crude oil pipeline from the Permian Basin to the Gulf Coast
A private equity firm — $360 million refinancing of a project loan and modification of gas supply and hedging arrangements for a cogeneration facility
Great Plains Energy Inc. — $8 billion bridge loan from Goldman Sachs & Co. used to finance a proposed purchase of Westar Energy with an approximate transaction value of $14 billion
Société Générale — $2.1 billion secured commodity borrowing base revolving credit facility for Mercuria Energy Trading
MUFG Union Bank, N.A — $1.5 billion investment grade revolving credit facility for Continental Resources, Inc., as lead arranger
Venoco, Inc. — creditor negotiations and Chapter 11 reorganization, which resulted in the elimination of almost $1 billion in debt. The bankruptcy proceeding was completed in four months and with the agreement of all creditor groups.
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
Yuhuang Chemical, Inc. — $800 million loan facility for the construction of a methanol plant with a nameplate capacity of approximately 1.8 million metric tons/year in St. James Parish, Louisiana
Phillips 66 — $1.2 billion receivables securitization facility arranged by the Royal Bank of Canada
Targa Resource Partners LP — $1.6 billion secured revolving credit facility, which included provisions for the fall away of collateral and covenants upon an investment grade rating
A U.S. money center bank and a foreign bank's New York Branch — as joint lead arrangers and administrative agent, in a $1.75 billion secured revolving credit facility to Tallgrass Energy Partners, LP