We have extensive knowledge of industry practices and legal requirements, and our knowledge and experience gives both lenders and borrowers access to practical, hands-on insight and efficiency in capital market transactions. We advise our financial institution clients as lenders, issuers, underwriters, credit enhancers and servicers, and have a proven ability to handle complex, innovative transactions, as well as the routine transaction where controlling costs is essential.
With our vast financial experience, we can quickly grasp the goals of a financing transaction, help you develop a practical and cost-effective structure, and assist in solving any problems along the way. We understand what both lenders and borrowers want, and we help them achieve it. The lawyers at Porter Hedges have the same goals as you do: get the deal done.
As advisors on financing transactions, our lawyers document and negotiate large multi-bank syndicated transactions, smaller multi-bank club deals, and single bank loans in all segments of the market including corporate lending, commercial lending, asset-based lending, reserve-based lending, letters of credit facilities, leasing transactions, structured finance, project finance, DIP financing, real estate finance, mezzanine and other subordinated debt financing, and all other areas of finance transactions.
On the borrower side, we assist clients in all sectors including retailers, distributors, manufacturers, technology companies, and service companies, and we have exceptional depth and experience in helping energy industry clients.
We advise on aspects of due diligence to evaluate risks and to balance business, operational and legal needs. Our lawyers have a solid reputation for closing deals, and are supported by the firm's full resources in tax, securities, employee benefits, real estate, environmental and corporate law.
While each lender has its own transactional processes and procedures, our work with a multitude of lenders enables us to suggest customized terms and provisions that benefit the lender and the borrower, as well as to build in safeguards that both protect the lender's collateral and make it easier to access the collateral in the event of a default, foreclosure or bankruptcy. Should workout or restructuring become necessary, our deep litigation and bankruptcy teams have substantial experience in representing the needs of both creditors and debtors.
Our lawyers are adept at addressing complex subordination and inter-creditor issues and represent creditors at all levels of the capital structure. We also work regularly with business combinations and transactions that require special financing, including joint ventures, product and technology licensing, distributorship arrangements, leveraged leasing and synthetic leasing. In addition, we are actively involved in all aspects of real estate finance, including traditional mortgages, development and construction loans, and commercial property acquisitions.
Recent transactions in this area include:
Agent/Lender Representation
- $100,000,000 credit facility with Mizuho Corporate Bank, Ltd., as Administrative Agent, Bank of Texas, N.A. and The Bank of Nova Scotia as Co-Agents for the Lenders, and Bank of Texas, N.A., as Collateral Agent for the Lenders, Mizuho Corporate Bank, Ltd. as Sole Arranger and Bookrunner, for an oil and gas exploration company
- $83,500,000 credit facility with Amegy Bank National Association, as Administrative Agent, Whitney National Bank and Trustmark National Bank as lenders, for the acquisition of over 130 convenience stores
- $80,000,000 term loan with Amegy Bank National Association as lender for a chemical company
- $45,000,000 term loan facility with Compass Bank as lender, for a bulk handing facility
- $44,000,000 lease facility with MHCB (USA) Leasing & Finance Corporation, as lessor, for a utility company
- $35,000,000 credit facility with Bank of America, N.A., as Agent for an oilfield specialty chemical company
- $35,000,000 credit facility (revolving line, term loan, and acquisition facility) with Compass Bank as lender for a vessel maintenance company
- $30,000,000 credit facility with Bank of America, N.A., as Administrative Agent, Sole Lead Arranger and Sole Book Manager for a valve manufacturing company
- $22,500,000 credit facility (revolving line, term loan, and equipment acquisition loan) with Amegy Bank National Association as lender, for a manufacturing company
- $22,000,000 credit facility, £6,000,000 term loan, and £4,000,000 revolving loan with Bank of America, N.A., as Agent, Swing Line Lender and L/C Issuer for an oilfield manufacturing company
- $10,000,000 revolving line of credit with PNC Bank, National Association, for a candle manufacturer
- $9,483,000 asset based credit facility (revolving line, term loan, and advancing equipment loan) with PNC Bank, National Association, for an industrial paint company. $6,000,000 term loan with Compass Bank as lender, for a vessel maintenance company
- $2,500,000 revolving credit facility with Briar Capital as lender, for a supplier of specialty tools to telecommunications companies
- $2,000,000 revolving credit facility with Whitney National Bank as lender, for a deep water service company
- Multiple tranche credit facility with Compass Bank as lender, for a sand and gravel company
- Four separate multi-tranche credit facilities with Whitney National Bank as lender, for various owners and operators of convenience stores
Borrower Representation
- $547,250,000 credit facility for Key Energy Services, Inc., as borrower, with Lehman Brothers Inc., as Sole Lead Arranger and Sole Book Runner, Lehman Commercial Paper Inc., as Syndication Agent, Wells Fargo Foothill, Inc., as Revolving Administrative Agent, and Lehman Commercial Paper Inc., as Administrative Agent and Collateral Agent
- $400,000,000 credit facility for an offshore drill rig operator to construct and outfit offshore rigs, with Natixis as Facility Agent and Collateral Agent, and Natixis, Fortis Bank S.A./N.V., New York Branch, and BTMU Capital Corporation as Mandated Lead Arrangers and Joint Book Runners
- $350,000,000 credit facility for Cooper Cameron Corporation and certain of its foreign subsidiaries, as borrowers, with JPMorgan Chase Bank, NA, as Administrative Agent, J.P. Morgan Securities, Inc., as Lead Arranger and Sole Book Runner, Calyon New York Branch, as Syndication Agent, and ABN AMRO Bank N.V., Citibank, N.A., and The Royal Bank of Scotland plc as Documentation Agents
- $250,000,000 reserve based credit facility for an international oil and gas company regarding their international concessions and licenses, with Standard Bank as lender
- $50,000,000 reserve-based credit facility for Merlon Petroleum Company, as borrower, with Bank of America N.A., as Administrative Agent and L/C Issuer
|