Hastings Represents Banks Financing Templar Purchase
Paul Hastings announced it represented Citigroup Global Markets, Barclays, Goldman Sachs Bank, Morgan Stanley Senior Funding and Natixis, New York Branch as lead arrangers and Citibank, as administrative agent in connection with a $550 million incremental add-on to Templar Energy’s second lien facility.
Proceeds were used primarily for the purchase of Granite Wash assets from Newfield Exploration.
Templar Energy is an exploration and production company focused on investing primarily in the mature, liquids-rich producing basins in the Mid-Continent region. Granite Wash assets consist of 42,000 net acres with current net production of 65 M cfd of natural gas equivalent, 60% of which is gas.
Leveraged Finance partners Michael Michetti and Joel Simon led the Paul Hastings team, which also included associates Heidi Spalholz and Mitch Zuckerman.