Jason Lloyd represents financial institutions, asset-based lenders, mezzanine lenders, private equity firms, SBICs, borrowers, and issuers in a wide variety of syndicated, bilateral, and capital market financings, including asset-based facilities, reserve-based facilities, letter of credit facilities, cash flow financings, international trade financings, project financings, financing of leveraged acquisitions, and debtor-in-possession financings, as well as work-outs, restructurings and liquidations.

He has significant experience in domestic, international, and multi-jurisdictional financing transactions, restructurings, and matters concerning creditors’ rights, and has negotiated and documented senior, junior, and mezzanine facilities secured by numerous types of assets, including UCC Article 9 collateral, vessels, barges, drilling rigs, drillships, aircraft, rail cars, rolling stock, marketable securities, intellectual property, real estate, midstream assets, and oil, gas, and coal-bed methane assets. Jason’s clients often include companies with operations and assets in numerous foreign jurisdictions. 

In his corporate practice, Jason represents clients in connection with the acquisition and disposition of assets, including drilling rigs, supply vessels, jack-up rigs, and drillships. He also advises clients with respect to maritime and insurance-related matters.

Honors & Recognitions

Texas Rising Stars, Banking, 2013-2018

Credentials

Education

J.D., University of Texas School of Law, 2003

B.B.A., University of St. Thomas, Economics and Finance, summa cum laude, 2000

Admissions

Texas

Experience

Jason’s representations have included the following:

Commercial Lending

  • The administrative agent in $295,000,000 senior credit facilities secured by more than 130 convenience stores, the proceeds of which were used to finance the borrower's acquisition of over 80 convenience stores from ExxonMobil and to refinance other debt of the borrower.
  • The administrative agent in $145,000,000 senior secured credit facilities to finance a private equity fund's leveraged acquisition of a chemical manufacturing plant in Ohio.
  • A commercial bank in a $37,000,000 construction facility to finance the construction and development of a medical office building and long-term acute care facility.
  • The administrative agent in $43,000,000 senior secured credit facilities to finance a strategic buyer's leveraged acquisition of substantially all of the assets of an alcoholic beverage distributor.
  • A commercial bank in $20,000,000 senior asset-based credit facilities to finance a private equity fund's leveraged acquisition of a manufacturer and supplier of steel and alloy products.
  • A real estate developer in a $175,000,000 revolving credit facility.
  • Companies that own and operate hospitals and provide related healthcare services in $48,500,000 senior secured credit facilities.
  • A '40 Act business development company in a $100,000,000 treasury-secured revolving credit facility.
  • A privately-held company in a $39,100,000 Sharia-compliant facility to finance the construction and acquisition of a Gulfstream GV-SP (G550) aircraft.
  • A commercial bank in a $35,000,000 construction facility to finance the construction and development of a residential apartment complex in North Carolina.
  • A commercial bank in a $25,000,000 revolving credit facility and a $5,000,000 Ex-Im working capital facility for an engineering and procurement firm.
  • An asset-based lender in more than 30 asset-based revolving credit and term loan facilities ranging in size from $1,000,000 to $8,000,000, secured primarily by accounts receivable, inventory, equipment, intellectual property, real estate, or rolling stock.

Energy and Maritime Finance

  • The administrative agent in senior secured credit facilities of $145,000,000 to finance the development of a gas storage facility in Wyoming. This transaction was named "North American Oil & Gas Deal of the Year" by Project Finance magazine.
  • The administrative agent in senior secured credit facilities of $275,000,000 to provide working capital for, and to finance a recapitalization of, a company involved in pipeline construction and related services in connection with a private equity fund's acquisition of a controlling interest in the company.
  • A commercial bank in a senior asset-based revolving credit facility of up to $35,000,000 for an energy services company involved in the provision of pressure pumping and cementing services.
  • A commercial bank in senior asset-based credit facilities of $25,000,000 to finance a sponsor group's leveraged acquisition and roll-up of four energy service companies operating in North Dakota and Montana, and intercreditor negotiations with the second-lien lender.
  • A commercial bank in senior asset-based credit facilities of $20,000,000 to finance a blank check company's leveraged acquisition of a manufacturer of drilling rigs and rig components, and related intercreditor negotiations with the second-lien lender.
  • An international offshore drilling contractor in the cross-collateralization of $1,150,000,000 of senior secured notes offered pursuant to Rule 144A and Reg S and a $500,000,000 senior secured term loan with an existing revolving credit facility and existing senior secured notes in connection with a consent solicitation and tender offer for the existing notes.
  • An international offshore drilling contractor in a $1,000,000,000 Rule 144A and Reg S senior secured notes offering to refinance debt of the company and to finance the company's acquisition of a Bahamian-flagged ultra-deepwater drillship.
  • An international offshore drilling contractor in a $225,000,000 Rule 144A and Reg S senior secured notes offering to refinance debt of the company and to finance the company's acquisition of a Panamanian-flagged ultra-deepwater jack-up rig.
  • An international offshore drilling contractor in a $135,000,000 Rule 144A and Reg S senior secured notes offering to finance the company's acquisition of a Panamanian-flagged ultra-deepwater jack-up rig.
  • An international offshore drilling contractor in a $100,000,000 term loan facility to finance its acquisition of a Panamanian-flagged ultra-deepwater jack-up rig.
  • An international offshore drilling contractor in $440,000,000 senior credit facilities secured by substantially all of the company's assets, including its Panamanian-flagged jack-up rigs and equity interests in its foreign subsidiaries.
  • The developer of a 55-megawatt wood-waste biomass fired electric generation facility in a $14,100,000 mezzanine loan facility and the restructuring of debt owed to senior noteholders.
  • The owner and operator of a petrochemical refinery and terminal facilities located in Hawaii in connection with a $125,000,000 senior-secured asset-based credit facility.
  • A publicly-traded energy services provider in $400,000,000 senior credit facilities secured by substantially all of the company's assets.
  • An oil and gas exploration and production company in a $75,000,000 revolving credit facility to finance the company's acquisition and development of coal-bed methane assets located in Wyoming.
  • An oil and gas exploration and production company in a $50,000,000 senior secured credit facility in which the lenders acquired an overriding royalty interest in the company's oil and gas assets, convertible into a net profits interest.
  • The administrative agent in a $75,000,000 reserve-based senior credit facility secured by oil and gas assets located in Texas.
  • A mezzanine lender in a $75,000,000 reserve-based senior credit facility to finance the borrower's development and operation of oil and gas assets located in Texas, in which the lender acquired an overriding royalty interest in the borrower's oil and gas assets.
  • Mezzanine lenders in reserve-based senior credit facilities of up to $175,000,000 for the development and operation of coal bed methane assets located in Illinois, Kansas, Ohio, and Pennsylvania, in which the lenders acquired fee mineral interests and overriding royalty interests in the coal bed methane assets.
  • A commercial bank in a $27,600,000 term loan facility secured by a U.S.-flagged offshore supply vessel and certain other assets.
  • A commercial bank in a $15,000,000 advancing term-loan facility to finance the acquisition of two tank barges and a push-boat by an inland marine transportation company.

Energy M&A

  • A Dubai-based energy services provider in its acquisition of a Bahamian-flagged offshore supply and diving support vessel.
  • A manufacturer of land-based drilling rigs and rig components in its negotiation of contracts to construct, sell, export, and commission rigs to a geothermal exploration and production company based in the Philippines, as well as the negotiation and documentation of documentary and standby letters of credit providing for progress payments and security for the refund guarantee.
  • A manufacturer of land-based drilling rigs and rig components in its negotiation of a contract to construct, sell, export, and commission a rig to an exploration and production company based in Nigeria, as well as the negotiation and documentation of documentary and standby letters of credit providing for progress payments and security for the refund guarantee.
  • A manufacturer of land-based drilling rigs and rig components in its negotiation of a master purchase agreement for the construction and sale of drilling rigs and related parts and components to a major energy services contractor.
  • An international offshore drilling contractor in connection with numerous acquisitions and intercompany transfers of jack-up rigs and deepwater drillships.
  • A financial institution in the negotiation of agreements with the owner of an LNG facility providing for the joint marketing of a liquefaction project, an option in favor of the financial institution to enter into one or more liquefaction tolling agreements, the sharing of liquefaction revenue, and the financing of the construction and development of a related gas storage facility.

Private Equity/SBIC 

  • A private equity fund in senior secured credit facilities (including a $7,000,000 Ex-Im working capital facility) for a target/portfolio company that is a leading international provider of marine aids-to-navigation.
  • A private equity fund in senior secured credit facilities for a target/portfolio company that is a provider of both onshore and offshore oil and gas mud logging services.
  • A private equity fund in senior secured credit facilities for a target/portfolio company that is a provider of workover, completion and maintenance services to oil and gas exploration companies in the Permian Basin and surrounding areas.
  • A private equity fund in senior secured credit facilities for a target/portfolio company that is a supplier of engineered rubber components.
  • An SBIC as the administrative agent in senior secured credit facilities of up to $16,000,000 to finance a private equity fund's leveraged acquisition of a provider of employment law training services.
  • An SBIC as the administrative agent in senior secured credit facilities of up to $8,000,000 and the purchase of warrants to finance a leveraged acquisition.

Workout/Restructuring

  • Numerous senior lenders in the out-of-court restructuring of dozens of credit facilities involving companies in various industries, including upstream exploration and production, midstream, power generation, energy services, manufacturing, and healthcare.
  • The administrative agent in the out-of-court liquidation of an energy services company with assets located in multiple states, including negotiating and documenting the settlement of dozens of mechanic's and materialman's (m&m) lien claims and collecting outstanding accounts receivable.
  • An asset-based lender in the out-of-court liquidation of a pipeline construction company, including negotiating and documenting the settlement of numerous m&m lien claims, and collecting outstanding accounts receivable owed to the company by its primary customers.
  • The administrative agent in a debtor-in-possession financing for a developer and manufacturer of hearing aids and related products.
  • An owner and operator of numerous hospitals in its debtor-in-possession financing for itself and numerous subsidiaries.
  • An offshore drilling contractor as its special counsel in connection with its exit financing consisting of a first lien revolving credit facility, second-lien senior secured notes, and third-lien senior secured convertible notes, in excess of $1,000,000,000.
  • The official committee of unsecured creditors of an upstream oil and gas company with thousands of oil and gas leases and related assets in Texas – as special Texas counsel.

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Affiliations

State Bar of Texas, Member

Houston Bar Association, Member

Commercial Finance Association (Houston and Southwest Chapters), Member

Texas Association for Corporate Growth (Houston Chapter), Member

2016 Texas ACG Capital Connection, Facilities Committee Chair