Haynes and Boone Represents Leading Financial Institution in $2.5 Billion Credit Facility

02/24/2021

Haynes and Boone, LLP Houston Partner Brent Shultz led a cross-office team that represented the lead arranger and administrative agent in a fully underwritten $2.5 billion term loan to ONE Gas, Inc.

The transaction was completed Feb. 22, 2021 and fully documented on a highly expedited basis. The proceeds of the loan will be available to ONE Gas for natural gas purchases as a result of the 2021 winter weather events and the repayment of indebtedness.

Shultz was assisted on the matter by a Haynes and Boone team: Charlotte Partner Justin Riess, New York Counsel Laura Martone, and Dallas Associate Cody Cravens.

Shultz represents banks, financial institutions, investment funds and borrowers in a wide range of complex financing transactions. His practice focuses on fund finance (including capital commitment secured facilities), energy finance (including oil and gas reserve-based lending and credit facilities to midstream companies), investment grade lending, cash-flow facilities, asset-based facilities, acquisition finance, leveraged finance and other corporate finance transactions. In addition, his experience includes project finance, real estate finance, restructuring/workout and cross-border finance matters.

The hiring partner of Haynes and Boone’s Charlotte office, Riess represents lenders and borrowers in a variety of complex transactions, spanning leveraged finance, specialty finance, private equity finance and syndicated lending.

The firm’s Finance Practice Group has handled hundreds of deals worldwide in recent years. The firm structures new and sophisticated financing vehicles that fit the business needs of its clients, and it brings together lenders and borrowers to make deals. The Loan Pricing Corporation Law Firm League Tables, a national ranking of law firms handling syndicated loan transactions on behalf of lead arrangers, agents, or borrowers, has consistently ranked Haynes and Boone among the top 15 firms in the U.S. in terms of total volume of syndicated loans handled by the firm on behalf of lenders.

Haynes and Boone, LLP is an international corporate law firm with offices in Texas, New York, California, Charlotte, Chicago, Denver, Washington, D.C., London, Mexico City and Shanghai, providing a full spectrum of legal services in energy, technology, financial services and private equity. With 600 lawyers, Haynes and Boone is ranked among the largest U.S.-based firms by The National Law Journal, The American Lawyer and The Lawyer. It also was recognized across the board for excellence in the BTI Consulting Group’s 2020 “A-Team” report, which identifies the law firms that in-house counsel commend for providing superior client service.