Chad Davis
Partner
Debt Finance
Overview
Chad Davis is a debt finance partner in the Dallas office of Kirkland & Ellis LLP. Chad represents borrowers, issuers, financial institutions, agent banks, underwriters and other institutional investors in connection with secured and unsecured bank financings, including acquisition financings, senior and subordinated debt, working capital credit facilities, bridge loans, asset-based financings, reserve-based financings and term loans, as well as with secured and unsecured high-yield debt offerings, private placements of securities and other forms of debt financing.
Experience
Representative Matters
Since joining Kirkland, Chad has been involved in the following matters:
- SM Energy Company (NYSE: SM) in its amendment to extend and increase its reserve-based revolving credit facility with $3.0 billion maximum commitments and $2.0 billion elected commitments
- Helmerich & Payne, Inc. (NYSE: HP) in its $950 million unsecured amended and restated revolving credit facility and $400 million unsecured delayed-draw term loan facility in connection with its acquisition of KCA Deutag International Limited
- EQT Corporation (NYSE: EQT) in its $3.5 billion unsecured revolving credit facility in connection with its acquisition of Equitrans Midstream Corporation (NYSE: ETRN), a leading independent national gas production company with operations focused in the Appalachian Basin
- SM Energy Company (NYSE: SM) in commitments for a $1.2 billion 364-day bridge credit facility and a $1.25 billion backstop reserve-based revolving credit facility in connection with its agreement to acquire $2.55 billion of Uinta Basin assets from XCL Resources, LLC
- Consortium of Global Infrastructure Partners (GIP) and Canada Pension Plan Investment Board (CPPIB) in the $6.2 billion acquisition of ALLETE, Inc. (NYSE: ALE)
- Delek Logistics Partners, LP (NYSE: DKL) and its subsidiary Delek Logistics Finance Corp. in the offering of $200 million 8.625% senior notes due 2029
- EQT Corporation (NYSE: EQT) in its $35 billion merger with Equitrans Midstream Corporation (NYSE: ETRN)
- Baker Hughes Company (NYSE: BKR) in the refinancing of its $3 billion revolving credit facility
- Kimbell Royalty Partners, LP (NYSE: KRP) in an amendment and restatement of its reserve-based revolving credit facility with Citibank, N.A. with $750 million maximum commitments and $400 million initial elected commitments
- Noble Corporation (NYSE: NE) in its $550 million refinancing of its existing debt facilities and entry into a senior secured revolving credit facility
- Delek Logistics Partners, LP (NYSE: DKL) in an amendment and restatement of a $900 million secured revolving facility and a $300 million secured term loan facility
- Delek US Holdings, Inc. (NYSE: DK) in an amendment and restatement of a $1.1 billion senior secured asset-based revolving credit facility
- Delek US Holdings, Inc. (NYSE: DK) in an amendment and restatement of a $950 million senior secured term loan B facility
- EQT Corporation (NYSE: EQT) in its $1.25 billion unsecured delayed-draw term loan credit facility in connection with the financing of its $5.2 billion acquisition of Tug Hill’s upstream assets and XcL Midstream’s gathering and processing assets
- EQT Corporation (NYSE: EQT) in its unsecured revolving credit facility with $2.5 billion aggregate commitments
- Southwestern Energy Company (NYSE: SWN) in its reserve-based revolving credit facility with $3.5 billion maximum commitments and $2.0 billion elected commitments, with investment grade “fallaway” provisions
- Tupperware Brands Corporation (NYSE: TUP) in its $480 million secured multi-currency revolving facility and $400 million secured USD and Euro term loan facility implemented in connection with the refinancing of its existing debt
- Noble Corporation (NYSE: NE) in its $3.4 billion all-stock merger of equals with Maersk Drilling (CSE: DRLCO)
- Penn Virginia Corp. (NASDAQ: PVAC) in its $370 million merger with Lonestar Resources US Inc. (OTCQX: LONE)
- Delek Logistics Partners, LP (NYSE: DKL) and Delek Logistics Finance Corp., a subsidiary of Delek Logistics, in a $400 million offering of senior notes
Prior to joining Kirkland, Chad was involved in the following matters:
Bank Financings
- Sprague Resources LP — $1.18 billion multi-currency senior secured revolving credit facility
- NASCAR — $150 million senior revolving credit facility and $1.4 billion term loan facility in connection with its acquisition of International Speedway Corporation
- Chesapeake Energy Corporation — $1.5 billion first lien, second out secured term loan facility
- Private provider of custom fully-cooked meat products — $100 million senior secured revolving credit facility
- CrossAmerica Partners LP — $750 million senior secured revolving credit facility
- Tellurian Inc. — $75 million senior secured term loan facility
- Zix Corporation — $185 million senior secured term loan facility and $25 million revolving credit facility
- Helmerich & Payne, Inc. — $750 million senior revolving credit facility
- Tellurian Production Holdings LLC — $60 million senior secured term loan facility, secured primarily by oil and gas properties and reserves
- Chesapeake Energy Corporation — $3.0 billion senior secured reserve-based revolving credit facility
- Kimbell Royalty Partners, LP — entry into a $50 million senior secured reserve-based credit facility amendment and the subsequent increase of such facility to $200 million in connection with acquisitions from Haymaker Minerals & Royalties, LLC and Haymaker Resources, LP
- Delek US Holdings, Inc. — $1.0 billion asset-based revolving credit facilities and $700 million senior secured term loan (with subsequent increases for an additional $600 million), secured with crossing liens
- Noble Corporation — $1.5 billion senior revolving credit facility
- Sponsor-backed oil and gas exploration and production company — $100 million reserve-based revolving credit facility
- Linn Energy, Inc. — $500 million senior secured reserve-based credit facility
- Chesapeake Energy Corporation — $1.5 billion first lien, second out secured term loan facility
- Helix Energy Solutions Group — $150 million revolving credit facility, $100 million term loan facility and $250 million secured vessel acquisition financing
- Parker Drilling Company — $200 million senior secured revolving credit facility
- Chesapeake Energy Corporation — $4.0 billion senior revolving credit facility
- Paragon Offshore plc — $800 million senior revolving and $650 million senior term loan credit facilities secured by offshore drilling rigs in connection with its spin-off from Noble Corporation
- Seventy-Seven Energy, Inc. — $275 million senior asset-based revolving credit facility and $400 million senior secured term loan facility in connection with its spin-off from Chesapeake Energy Corporation
- Atwood Oceanics, Inc. — $1.55 billion senior revolving credit facility secured by offshore drilling rigs
High-Yield Debt Offerings and Private Placements
- Bristow Group Inc. — $400 million private placement of senior secured notes
- Tallgrass Energy Partners, LP — $500 million private placement of senior notes
- Tellurian Inc. — $56 million private placement of zero coupon senior notes
- Chesapeake Energy Corporation — private offers to exchange approximately $3.2 billion aggregate principal amount of existing senior unsecured notes for $2.2 billion senior secured second lien notes
- Initial Purchasers — $250 million issuance of senior secured notes by Teekay Corporation
- Regional Bank — $300 million issuance of fixed-to-floating rate subordinated notes
- Placement Agent — $80 million private placement of senior secured second lien notes for Shelf Drilling Holdings, Ltd.
- Initial Purchasers — $900 million aggregate private placements of senior notes for Shelf Drilling Holdings, Ltd.
- Noble Corporation — $750 million private pl cement of priority guaranteed senior notes
- Initial Purchasers — $700 million issuance of senior notes by Teekay Offshore Partners L.P.
- Delek Logistics Partners, LP — $250 million private placement of senior notes
- Chesapeake Energy Corporation — private offers to exchange approximately $3.8 billion aggregate principal amount of existing senior unsecured notes for $2.4 billion senior secured second lien notes
- Linn Energy, LLC — privately-negotiated exchanges of approximately $2.0 billion aggregate principal amount of existing senior unsecured notes for $1.0 billion senior secured second lien notes
- Private Equity Lender — purchase of up to $100 million in senior secured notes from a private oil and gas production company
- Initial purchasers — $1.45 billion private placement of senior secured second lien notes by public independent oil and natural gas company
- Cabot Oil & Gas Corporation — private issuance of $925 million of senior unsecured notes
- Paragon Offshore plc — $1.08 billion private placement of senior notes in connection with its spin-off from Noble Corporation
- Seventy-Seven Energy, Inc. — $500 million private placement of senior notes in connection with its spin-off from Chesapeake Energy Corporation
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Credentials
Admissions & Qualifications
- 2013Texas
Education
- University of Texas at Austin School of LawJ.D.with Honors2013Staff Editor, Texas Journal of Oil, Gas and Energy Law
- University of Texas at AustinPlan II Honors2009Phi Kappa Beta
News &
Insights
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