New York, NY
- Paul Hastings LLP, a leading global law firm, announced today that the firm represented the banks in financing the purchase of BlackBrush Oil & Gas, L.P., an independent oil and gas exploration and development company, by private equity group Ares Management, L.P. (NYSE:ARES).
The financing consisted of a $500 million first lien reserve-based facility from Bank of America, N.A., which acted as administrative agent and a $300 million second lien term loan credit facility by UBS AG, Stamford Branch, which acted as administrative agent. UBS Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Credit Suisse Securities (USA) LLC acted as joint lead arrangers in connection with the credit facilities.
Leveraged Finance partners Mike Michetti
, Scott Saks
, Joel Simon
and Randal Palach
led the Paul Hastings team, which also included associates Shekhar Kumar
, Katie Forer, Sun Kim
, and Cecilia Wang
In Thomson Reuters’ First Half 2014 League Table
the firm ranked second in “U.S. Lender Law Firm Bookrunner M&A.”
Paul Hastings advised on numerous significant finance transactions in the first half of 2014 including representing the lenders in the $1.65 billion financing for the acquisition
of a majority stake in Royal DSM NV’s pharmaceuticals business by JLL Partners (“JLL”) through Patheon Inc.; the lenders in the $1.3 billion financing
of Apollo Global Management’s acquisition of CEC Entertainment, Inc.; the lenders in the $1.6 billion financing
for Media General Inc.’s acquisition of Lin Media LLC; and the lenders in the $1.1 billion financing for Accellent Inc.’s acquisition
of Lake Region Medical Inc.
Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.