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About Kate
Kate Day focuses her practice on debt financings in the energy industry. She counsels global banks, private equity funds, direct lenders, and corporate borrowers. Kate has particular knowledge of reserve based lending facilities, master limited partnership (MLP) and other midstream financings, green loans and sustainability-linked loans, asset-based loans, first and second lien intercreditor arrangements, acquisition and working capital facilities, leveraged and investment-grade financings, commodity finance, bond credit enhancement facilities, and hedging arrangements.
Kate also handles restructurings and workouts of loans in the energy industry.
Experience
Recent Notable Matters
Riverstone Credit Management LLC — $100 million senior secured delayed-draw green loan facility with ESG-linked pricing to Harland & Wolff Group Holdings plc, a UK-based fabrication and maintenance company operating in the maritime, defence, oil & gas and renewable energy sectors, including in relation to UK offshore wind projects
Wells Fargo Bank, National Association — as lender, administrative agent and collateral agent in the successfully completed exit financing for Diamond Offshore Drilling, Inc. and certain affiliates. The exit financing included approximately $400 million in a revolving credit facility, $100 million in a term loan and over $85 million in privately placed notes.
Large international financial institution — $1.75 billion unsecured revolving credit facility and $850 million unsecured term loan to publicly traded midstream service providers EnLink Midstream, LLC and EnLink Midstream Partners, LP
Large international financial institution — $1.0 billion unsecured term loan to midstream MLP Enable Midstream Partners
Wells Fargo Bank, National Association — $950 million revolving credit facility for publicly traded offshore drilling company Diamond Offshore Drilling Inc. and its subsidiaries
Multinational investment bank and financial services company — $4.5 billion unsecured, multi-borrower revolving credit facility to publicly traded midstream services provider The Williams Companies, Inc., in connection with its acquisition of and merger with Williams Partners
Multinational investment bank and financial services company — $1.75 billion unsecured revolving credit facility to midstream MLP Enable Midstream Partners
Multinational investment bank and financial services company — $385 million secured revolving credit facility to publicly traded midstream MLP USD Partners LP, secured by rail and terminaling facilities in Canada, Oklahoma, and Wyoming
Wells Fargo Bank, National Association — $955 million unsecured revolving credit facility with floating guaranty coverage, to offshore drilling company Rowan Companies plc
Multinational investment bank and financial services company — $2.0025 billion unsecured, multi-borrower revolving credit facility with staggered maturity and floating guaranty coverage, to offshore drilling company Ensco plc
Multinational investment bank and financial services company — $1 billion secured, reserve-based revolving credit facility to a private equity-backed oil and gas royalty company in connection with the acquisition of oil and gas assets in Wyoming
Multinational investment bank and financial services company — $750 million secured, reserve-based revolving credit facility to MorningStar Partners, an oil and gas operator in a joint venture with a major international oil and gas company
Multinational investment bank and financial services company — $300 million secured, reserve-based revolving credit facility to private equity-backed oil and gas company in connection with the acquisition of oil and gas assets in West Texas
Multinational investment bank and financial services company — $500 million secured revolving credit facility to private equity-backed midstream company secured by gathering, processing, and pipeline assets in Wyoming
Multinational investment bank and financial services company — $200 million secured revolving credit facility to private equity-backed midstream company secured by gathering, processing, and pipeline assets in Canada
Société Générale — $300 million secured, reserve-based revolver for independent oil and gas company Abraxas Petroleum Corporation
Large international financial institution — $500 million secured, reserve-based revolving credit facility to independent oil and gas company Stone Energy Corporation
Macquarie Bank Limited — $80 million secured, revolving credit facility in favor of agricultural commodities trading companies Ceres Global Ag Corp. and Riverland Ag Corp., as borrowers
Macquarie Bank Limited — $140 million secured facilities to provide working capital, letters of credit, power and gas supply, and hedging to independent energy retailer Crius Energy Trust
Macquarie Bank Limited — documentation and restructuring of $160 million secured facilities to provide inventory repurchase financing, cash advances, and financing of margin calls for an agricultural commodities company
Macquarie Bank Limited — $37.5 million secured revolving credit facility to a private equity-backed biomass power generation company
Macquarie Bank Limited — multiple secured borrowing base financings to privately held commodities trading companies
Scotia Bank — CAD$1.2 billion of unsecured term and revolving facilities and a US$200 million revolver to Canadian oil and gas company Baytex Energy Corp. and its subsidiaries, in connection with their acquisition of Aurora USA Oil & Gas, Inc.
Scotia Bank — $62.5 million unsecured letter of credit facility to Phillips 66, supporting tax-exempt bond issuances in connection with Merey Sweeny refinery
Scotia Bank — $164 million unsecured letter of credit facility to a privately owned refining company, supporting a tax-exempt bond issuance
Publications and Speeches
"How To Build Gender Diversity Into Deal Teams," Mergers & Acquisitions, July 5, 2019.