Partner
Banks Bruce
- Global Finance
- Private Equity
- Energy
BANKS BRUCE is a partner in Sidley’s Dallas office. His practice focuses on private equity, financing and energy transactions, both domestically and internationally, including private equity backed financings, acquisition financings, oil and gas financings (for both midstream and upstream oil and gas companies), debt restructurings and recapitalizations, syndicated financings, cash flow financings, asset-based financings, mezzanine financing transactions, direct lending transactions, distressed financings, debtor-in-possession financings and exit financings. Banks additionally has experience in public and private securities transactions, general corporate and M&A transactions, general corporate governance and compliance matters and commodities and other derivative related matters.
Banks was most recently recognized as a 2017 – 2020 “Rising Star” in Banking, Energy & Natural Resources, and Securities & Corporate Finance by Texas Super Lawyers.
Banks’ experience since joining Sidley includes:
- Apollo Global Management, Inc. in providing a $500 million of senior secured loan to, and its commitment to buy over the next 12 months the lesser of 4.9% or $50 million in the common shares of, MFA Financial, Inc.
- Wave Computing, Inc. in its Chapter 11 bankruptcy case.
- Investment funds managed by an affiliate of ZMC in the financing for their acquisition of Simeio Solutions.
- Sidley represented affiliates of Stonepeak Infrastructure Partners in the financing for the purchase of Oryx Midstream Services. The financing consisted of a $1.5 billion senior secured Term Loan B facility and a separate senior secured revolving credit facility.
- Resolute Industrial, a portfolio company of One Equity Partners, in a senior secured credit facility to finance its acquisition of Tioga HVAC, and related subsequent refinancings
- MatrixCare, Inc., a portfolio company of OMERS Private Equity, in an incremental financing to finance its acquisition of SigmaCare
- An upstream oil and gas company with assets in Texas, Louisiana and North Dakota in a reserve based revolving loan facility with a group of commercial banks and a second lien financing with a group of institutional investors
- An upstream oil and gas company with assets in Oklahoma in a reserve based revolving loan facility
- A group of lenders in a senior secured financing for an oil field services company with frac sand supply operations, including subsequent incremental financings
- Athene Holding, a leading retirement services and life insurance holding company, in various intercompany investment and financing transactions
- Genworth Financial, a leading insurance and financial services company, in a senior secured term loan facility to refinance its senior notes due 2018
- Beacon Roofing Supply, a leading supplier of roofing and building supplies, in a senior secured asset-based lending facility and senior secured term loan facility to finance its acquisition of Allied Building Products
Experience
- Representative Matters
- Memberships and Activities
Banks’ experience prior to joining Sidley includes:
- A private equity-owned global manufacturer of specialty chemicals in an asset- based and a senior secured term facility to finance its reorganization and combination with an affiliated business
- A private equity-owned global manufacturer of specialty resins and related products in a senior secured multicurrency revolver and term loan facility to finance the strategic take-private acquisition of a related business
- An investor group in a multicurrency senior secured revolver and term loan facility to finance the take-private acquisition of a global coffee company
- A private equity investor in an asset-based and a senior secured term facility to finance the acquisition of a chain of discount retail stores, and related subsequent financings including an initial public offering
- Thomas H. Lee Partners’ in a senior secured credit facility to finance the acquisition in Fogo de Chão, and related subsequent refinancings including an initial public offering
- A private equity investor in a senior secured credit facility to finance the acquisition of a global manufacturer of specialty packaging materials, and related subsequent refinancings
- A private equity-owned manufacturer of highly engineered automobile components in its multicurrency senior secured credit facilities to finance its combination with two affiliated businesses, and related subsequent refinancings including an initial public offering
- A private equity-backed upstream and midstream oil and gas company in a series of senior secured facilities to finance the development of midstream and upstream properties, including the combination with, and contribution of assets to, an existing master limited partnership
- A private equity investor in a senior secured revolver and term loan facility to finance the acquisition of a technology services business in the hotel, resort and conference center industry, and related subsequent refinancings
- A private equity investor in a senior secured revolver and term loan facility to finance the acquisition of a dental support organization, and related subsequent refinancings
- A private equity-owned insurance brokerage in the refinancing of its senior secured credit facilities
- A private equity-backed SPAC in its acquisition of a wholesale bakery business
- A private equity investor in a senior secured revolver and term loan facility to finance the acquisition of a software company, and related subsequent refinancings
- A pipeline company in financing its acquisition of an affiliated pipeline company
- Oil and gas exploration and production companies with assets in Texas, Louisiana, Oklahoma, Arkansas, Pennsylvania, North Dakota and Wyoming in connection with various senior secured reserve based revolving loan facilities
- An offshore drilling company in senior secured letter of credit and term facilities to finance its exit from Bankruptcy
- An E&P company with assets in the North Sea in senior secured letter of credit, revolving and term facilities tin connection with the bankruptcy of its holding company and related subsequent refinancings
- An oil field services company in its senior secured exit facility, including an exchange of its pre-petition term loans for term loans under its amended and restated credit agreement following its bankruptcy proceedings
Banks is involved in his community through numerous activities, including Big Brothers Big Sisters Lonestar, through which he serves on the board and mentors a little brother.
Capabilities
SERVICES
- Global Finance
- Private Equity
- Energy
- Borrower Representations
- Energy Finance
- Syndicated and Leveraged Finance
- Workouts and Restructurings
- Asset-Based Lending
- Insurance Corporate Finance
- Structured Vehicles
- UCC/Commercial Law
INDUSTRIES
News & Insights
Credentials
Admissions & Certifications
- New York
- Texas
Education
- University of Oklahoma, B.B.A., 2004
- St. John's University School of Law, J.D., 2007 (with honors)
- St. John's University, MBA, 2007