Tall Oak Midstream Secures Financing to Fund Subsidiaries

June 24, 2015

Houston, TX— Paul Hastings LLP, a leading global law firm, announced today that the firm represented Tall Oak Midstream, LLC, an innovative midstream company, in securing two $75 million senior credit facilities to fund the operations of two of its subsidiaries, TOMPC, LLC and TOM-STACK, LLC.  Each of the facilities may be expanded to $100 million subject to the satisfaction of certain conditions.
Six banks participated in each credit facility with Capital One Securities Inc., Compass Bank and BancFirst acting as joint lead arrangers and Amegy Bank, Bank of Oklahoma and KeyBank serving as additional participants.

Paul Hastings has advised Tall Oak in securing more than three-quarters of a billion dollars in equity and debt capital.  Prior to this transaction, EnCap Flatrock and Tall Oak’s management made an initial $100 million commitment to Tall Oak in February 2014 and have since made additional equity commitments totaling $750 million in the aggregate.

Leverage Finance partner Michael Chernick, Energy Finance partner Lindsay Sparks and Energy partner Jimmy Vallee led the Paul Hastings team, which also included Kim Hicks and Hiral Zalavadia.

Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.

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