Restructuring and Reorganization
• Represented Energy Future Holdings Corp. and 70 of its affiliates in the financing aspects of their Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. The company is the largest generator, distributor, and certified retail provider of electricity in Texas — is the product of the largest buy-out in history. With over $49 billion in liabilities and $36 billion in assets, their Chapter 11 case is the largest operating Chapter 11 case ever filed in Delaware and the seventh largest Chapter 11 case filed in history.
• Assisted in the representation of Texas Competitive Electric Holdings and certain of its subsidiaries in their $4.25 billion debtor-in-possession and exit financing.
• Represented Caesars Entertainment Operating Co. Inc. and affiliates in the financing aspects of its Chapter 11 restructuring. The casino-entertainment company and its debtor subsidiaries had more than $18.4 billion in funded debt obligations as of the commencement of their Chapter 11 cases.
• Represented Samson Resources Corporation, a leading oil and gas exploration and production company with over $4 billion in outstanding funded debt, in its Chapter 11 restructuring, including obtaining a reserve-based revolving credit facility upon its exit from Chapter 11.
• Resolved numerous other out-of-court debt restructurings and distressed debt scenarios in the energy industry (upstream oil & gas, coal, refining and nuclear industries), retail and telecommunications industries.
Acquisition Finance and Leveraged Finance
• Represented numerous private equity funds and their portfolio companies in leveraged loans and acquisition financings, the proceeds of which were used to consummate leveraged buyouts as well as dividend recapitalizations. The transactions that Ryan has handled have ranged in size from millions of dollars to several billions of dollars.
• Represented oil and gas midstream partnership between global asset manager and energy holdings company in debt and equity financing matters.
• Represented a midstream development platform controlled by a private equity group in obtaining a $350 million term loan and a $32 million letter of credit facility from multinational investment bank to fund the acquisition, development and construction of midstream oil and gas assets in the Permian Basin.
• Represented electric utility company in its $18.7 billion sale of the company and its stake to Texas utility company.
• Representation of institutional lender in their cross-border (U.S.A and Canada) ABL revolving credit facility to thermal engineering company.
• Financing representation of distressed debt private equity fund in their dividend recapitalization secured by portfolio of performing, stressed, and distressed debt.