Sidley represented NuStar Energy L.P. in its US$750 million term loan agreement with funds managed by Oaktree Capital Management, L.P. The term loan consisted of a US$500 million initial draw and US$250 million of delayed draw commitments. NuStar will use the proceeds to refinance existing indebtedness and for other general corporate purposes. The term loan is unsecured and has a term of three years.
The Sidley team was co-led by energy partners Daniel Allison and George Vlahakos, with support from energy associates Quan Lu, Ashley Moulder, Tanner Groce and Kayleigh McNelis.