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Nick Sorensen has been in private practice for almost 20 years and is a partner in the finance section of the firm. He is listed as one of America's leading lawyers in banking and finance law by Chambers USA, and has been selected as a “Texas Super Lawyer” in Banking Law in every Texas Monthly attorney survey since its inception in 2003. In 2008, Mr. Sorensen was listed in Super Lawyers, Corporate Counsel Edition in the area of Banking. He is involved in a wide range of financing transactions including:
- multi-lender credit facilities
- single lender credit facilities
- asset-based lending
- reserve based lending
- project finance transactions
- mezzanine and subordinated debt facilities
- structured finance tranasction workouts, restructures, and re-capitalizations
- leveraged leasing transactions
- real estate acquisition and development loans
- construction loans
- loans or leases to acquire aircraft
- letter of credit facilities
- hedging, derivative, swap and ISDA agreements
- financing of mergers or acquisitions
- purchase and sale of privately held companies
- public and private debt offerings
- general commercial transactions
Mr. Sorensen represents both lenders and borrowers (or, in the case of lease financing transactions, lessees and lessors) and often represents equity participants or parties providing credit enhancement. Mr. Sorensen's practice also includes representing buyers and sellers in corporate mergers and acquisitions, representing investors in private capitalization or venture capital transactions, and representing buyers and sellers of commercial real estate.
His first year out of law school, Mr. Sorensen was a judicial clerk for The Honorable Roger D. Foley, in the United States District Court for the District of Nevada. Following his clerkship, Mr. Sorensen was associated with the law firm of Shannon & Ustick from 1988 until 1990, and then joined Johnson & Gibbs (later known as Johnson & Wortley) where he practiced until joining Porter & Hedges, L.L.P. in 1995. Representative Experience
- Representation of domestic or foreign lenders in non-recourse project financing of (a) a petroleum coke handling facility on the Houston Ship Channel, and (b) an offshore processing facility in the Gulf of Mexico.
- Representation of domestic or foreign lenders as the agent in (a) a $350 million syndicated credit facility to a domestic construction company specializing in the construction of telecommunications and utility infrastructure, (b) a $421 million syndicated credit facility to a domestic resort company, (c) a $220 million syndicated credit facility to a domestic food distribution company, and (d) a $50 million syndicated credit facility to a domestic commercial electrical supply and distribution company.
- Representation of borrowers in (a) a $550 million secured syndicated credit facility, (b) a $150 million unsecured syndicated credit facility, (c) a $100 million secured syndicated credit facility, (d) a $58 million secured syndicated credit facility, and (e) a $250 million secured syndicated credit facility.
- Representation of borrowers and lenders in asset-based lending transactions, including (a) a domestic engineering company in a $20 million asset-based loan, (b) a domestic oilfield drilling supply company in a $30 million asset-based loan, (c) a radio station consolidator in a $20 million asset-based loan, and (d) an oilfield service company in a $27.5 million asset-based loan.
- Representation of lenders in single bank credit facilities including (a) a $10 million credit facility to a domestic environmental chemical treatment company, (b) a $35 million credit facility to a domestic manufacturing company, (c) a $20 million credit facility to a chemical processing and packaging company, (d) a $26.5 million credit facility to a beer distribution company, (e) a $25 million credit facility to a company providing security and armored transport services, and (f) a $15.5 million credit facility to a domestic distribution company.
- Representation of lenders in the restructure or workout of (a) a $20 million loan to a manufacturing company, (b) a $100 million loan to a domestic sportswear company, (c) a $1 million loan to a technology company, (d) a $25 million loan to a chemical distribution company, and (e) a $50 million loan to a distribution company.
- Representation of the agent in (a) a $155 million commercial paper funded synthetic lease of convenience stores and gasoline stations for a major domestic refining company, (b) a $65 million synthetic lease financing of a “scrubber” for a major domestic refining company, and (c) a $170 million synthetic lease financing of an office building complex.
- Representation of a foreign leasing company in (a) a $20 million off-balance sheet lease financing of aircraft for a major domestic company and (b) a $50 million off balance sheet lease of railcars for a domestic utility.
- Representation of a domestic leasing company as the equity participant in a $350 million synthetic lease financing of the construction of a “coker” facility for a major domestic refining company.
- Representation of real estate lenders in construction and acquisition loans in respect of shopping centers, commercial buildings, hotels, industrial warehouses, and storage facilities.
- Representation of a corporate consolidator in the waste disposal industry.
- Representation of individual investors in (a) the start up of a party rental business, (b) the acquisition of a vineyard, (c) investments in technology companies, (d) the start up of a millwork company, and (e) the acquisition of an event services company.
- Representation of shareholders in the sale of (a) a privately held elevator company, and (b) a privately held steel company.
Professional / Civic Affiliations
- Martindale Hubbell AV Rated Attorney
- Member of the American Bar Association
- Member of the State Bar of Texas
- Member of the Houston Bar Association
- Member of the Texas Association of Bank Counsel
- Served as a member of the Texas State Bar Commercial Code Committee
- Represented clients on a pro bono basis for the Houston Volunteer Lawyers Program
- President, Clayton Library Friends
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