KENNETH M. ANDERSON is a partner in Sidley’s Houston office. He primarily represents the arranger/administrative agent and borrowers in syndicated financings. His national syndicated bank financing practice includes experience in a broad spectrum of syndicated lending transactions, including energy financings, master limited partnership (MLP) financings, merger and acquisition financings, structured financings, project financings, multi-currency financings and highly leveraged transactions.
Representative Experience
- Represented a major financial institution as arranger for a $750 million revolving credit facility established in connection with the initial public offering of master limited partnership units by the borrower’s parent and the drop down of oil and gas properties to the borrower.
- Represented a major financial institution as arranger in amending a group of related credit facilities aggregating $650 million in connection with the acquisition of additional oil and gas properties and the contribution of oil and gas properties to a new master limited partnership.
- Represented a midstream energy company as borrower with respect to a $285 million ABL financing comprised of a revolving credit facility and a last-out term loan facility.
- Represented private equity sponsor in connection with a $35 million ABL revolving credit facility to provide a portion of the proceeds for the acquisition of a compression company.
- Represented a major oil company in connection with providing collateral to secure its $20 billion oil spill relief fund obligation.
- Represented a major MLP in establishing a new $200 million revolving credit facility and terminating its existing $1.45 billion term loan facility and $500 million revolving credit facility in connection with the issuance of $1.8 billion of senior notes.
- Represented a major MLP in the amendment and restatement of its credit facility in connection with and to permit the acquisition of the 100% of the general partner of another major MLP.
- Represented a private equity portfolio company as borrower in a $75 million revolving credit facility secured by oil and gas properties governed by a borrowing base in connection with a material acquisition of additional properties.
- Represented a group of borrowers with three separate revolving credit facilities totaling $650 million each secured by separate oil and gas properties governed by a borrowing base in connection with a material acquisition of additional properties.
- Represented a private equity portfolio company as borrower in a $250 million revolving credit facility secured by oil and gas properties governed by a borrowing base in connection with a material acquisition of additional properties.
- Represented an MLP as borrower in an amend and extend transaction with respect to its $900 million revolving credit facility resulting 100% of the commitments being extended to the new maturity date.
- Represented an MLP as borrower with respect to its $2 billion revolving credit facility and subsequent amendments thereto. Represented an MLP as borrower with respect to its $1.45 billion term loan facility and $500 million revolving credit facility.
- Represented an MLP as borrower with respect to two separate bridge facilities of $500 million and $310 million, respectively.
- Represented joint venture borrower and an MLP as the JV partner/guarantor in $1.1 billion pipeline construction financing.
- Represented an MLP as a joint venture partner/guarantor in a $1.5 billion pipeline construction financing.
- Represented the arranger in a private equity sponsored acquisition financing with a $125 million term loan facility and a $30 million revolving credit facility for the purchase of midstream assets from an MLP. This was one of the first private equity acquisition financings to occur after the financial market crisis.
- Represented an interstate pipeline company in $350 million private placement.
- Represented a leading energy company in a $350 million senior secured term loan and revolving credit facility.
- Represented an MLP in obtaining amendments allowing a major investment in a joint venture to construct a $600 million pipeline expansion project and a separate major asset exchange.
- Represented the administrative agent in a workout/restructuring, obtaining a 100% vote to extend the maturity resulting in payoff at par a few months later.
- Represented co-arrangers in a $500 million revolving credit and acquisition facility for an MLP and in a subsequent major amendment thereto to provide for dropdown transactions between the MLP and the owner of its general partner.
- Represented the arrangers in a C$2.25 billion acquisition, bridge facility for the acquisition by the borrower of a major gas distribution company in Canada.
- Represented a private equity sponsor in its original acquisition financing of a midstream gas company, including first- and second-lien facilities, and represented the portfolio company in several subsequent increased refinancings including in connection with its offering of MLP interests; and an acquisition and bridge financing for $850 million.
- Represented a portfolio company (retail food industry) as borrower and its private equity sponsor in the financing of its acquisition of a major canned meats division from a major consumer products company.
- Represented a global energy company as borrower regarding its $1.3 billion flagship revolving credit facility.
- Represented a major private equity fund regarding a $245 million acquisition and working capital financing for its acquisition of a food processing and distribution company.
- Represented the arranger regarding a $5.9 billion restructuring of existing indebtedness of a global energy company.
- Represented the arranger regarding 364-day and 5-year facilities totaling $1.3 billion with domestic and foreign borrowers and multi-currency options to a global energy company and its subsidiaries.
- Represented the arranger regarding 364-day, 5-year, and bridge facilities totaling $3 billion to a petrochemical, refining, and energy company.
- Represented the arranger regarding a $400 million structured financing for a Canadian borrower that was a subsidiary of a U.S. energy company.
- Represented the arranger regarding a $300 million structured financing funded through a commercial paper conduit for a Canadian borrower that was a subsidiary of a U.S. energy company.
- Represented the arranger regarding a $500 million bridge facility to a petrochemical and energy company.
- Represented the arranger regarding a $900 million bridge facility to a global energy company.
- Represented the Chinese office of a foreign bank as the arranger regarding a $100 million revolving credit facility to the Chinese subsidiary of a domestic energy company.
- Represented the arranger regarding a $200 million revolving credit facility to an industrial equipment manufacturing company with sponsor support from its Japanese parent.
- Represented the arranger regarding a $600 million revolving credit facility to a company that owns and operates several offshore pipelines.
- Represented the arranger regarding a $120 million credit facility to an MLP in conjunction with its creation and initial public offering.
- Represented the arranger regarding a $115 million project financing providing construction financing for an offshore platform and pipeline project.
Professional History
- Partner, Sidley Austin LLP
- Partner, Locke Lord LLP
- Partner, Vinson & Elkins LLP
Achievements & Recognition
- Chambers USA: America’s Leading Business Lawyers, Banking and Finance Law (2005-2012)
- Corporate Law (2005-2011)
- Banking Law (2009-2011)
- Legal Media Group's (Euromoney's) Guide to the World's Leading Project Finance Lawyers (2003, 2006, 2008, 2010)
- Recognized, Legal 500 U.S., Bank Lending - South (2009)
- "Texas Super Lawyer," Texas Monthly (2008, 2009)
- The Best Lawyers in America®
- Who's Who Legal: Texas, Banking Law (2007)
- Mergers & Acquisitions and Securities Law (2005)