Rachael L. Lichman

Partner

rachael.lichman@bakerbotts.com

Houston

P: +1.713.229.1180 F: +1.713.229.7980
Rachel Lichman Photo

Rachael Lichman represents borrowers and 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 and term loans, as well as with secured and unsecured high-yield debt offerings, private placements of securities and other forms of debt financing.

Related Experience

Bank Financings

  • Ensco plc – $1.9 billion amendment and extension of senior revolving credit facility in connection with acquisition of Atwood Oceanics, Inc.
  • Linn Energy, Inc. – $500 million senior reserve-based credit facility
  • Bristow Group Inc. – multiple senior secured term loan equipment financings, aggregating $630 million, secured by helicopters
  • Chesapeake Energy Corporation – $1.5 billion first lien, second out secured term loan 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
  • Lead arrangers and administrative agents – aggregate $1.3 billion syndicated senior unsecured credit facility and delayed draw term loan for a public energy company MLP sponsor
  • Lead arrangers and administrative agents – aggregate $2.4 billion syndicated senior unsecured credit facility and term loan for a public MLP that provides midstream energy services
  • Privately-held energy company – $280 million senior secured term loan facility and $375 million senior asset-based revolving credit facility
  • Lead arranger and administrative agent – $500 million senior revolving and $750 million senior term loan credit facilities secured by offshore drilling rigs by a public international offshore drilling company
  • CST Brands, Inc. – $800 million syndicated senior secured revolving and term loan credit facility in connection with its spin-off from Valero Energy Corporation
  • Lead arranger and administrative agent – $1.2 billion syndicated senior unsecured delayed draw term loan for a public energy company
  • Bristow Group Inc. – multiple senior secured term loan facilities, aggregating $425 million, secured on a pari passu basis with an existing credit facility, to fund a minority investment in Cougar Helicopters Inc. and the purchase of seven helicopters and certain related assets, as well as to fund working capital needs
  • EQT Midstream Partners, LP – $350 million senior unsecured syndicated revolving credit facility in connection with its initial public offering
  • Privately-held energy company – multiple bilateral letter of credit facilities (in the $250 million range)
  • Lead arrangers and administrative agent – $445 million syndicated senior secured revolving and delayed draw term loan facility to fund a joint venture in the motion picture industry
  • Lead arrangers and administrative agent – $1 billion asset-based revolving credit facility for a public food production company

High-Yield Debt Offerings and Private Placements

  • Delek Logistics Partners, LP – $250 million private placement of senior notes
  • Transocean Ltd. – multiple private placements of senior secured notes, aggregating $1.635 billion, each secured by an ultra-deepwater drillship
  • 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
  • Initial purchasers – $1.45 billion private placement of senior secured second lien notes by public independent oil and natural gas company
  • 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
  • Institutional purchasers – $500 million private placement of senior notes secured by offshore vessels by a private offshore vessel supply firm
  • Initial purchaser –$750 million private placement of senior notes secured by offshore drilling rigs by a public international offshore drilling company
  • CST Brands, Inc. – $550 million private placement of senior notes in connection with its spin-off from Valero Energy Corporation
  • Institutional purchasers – $200 million private placement of senior notes issued by a wholly owned subsidiary of a public MLP that owns and operates an interstate natural gas pipeline
  • Initial purchaser – $500 million private placement of senior notes secured by an offshore drilling rig issued by a wholly owned subsidiary of a public international offshore drilling company
  • Bristow Group Inc. – $450 million public offering of senior notes
  • Institutional purchasers – $350 million private placement of senior notes issued by a wholly owned subsidiary of a public energy company engaged in the interstate transportation of natural gas
  • Atwood Oceanics, Inc. – $450 million public offering of senior notes
  • Institutional purchasers – $40 million purchase of senior secured fixed and floating-rate notes issued by a privately held operator and joint owner of a natural gas storage facility
  • Initial Purchaser – $150 million private placement of senior PIK toggle notes by a privately held producer of shelf-stable seafood
  • Lead underwriter – $150 million public offering of senior notes by a public exploration and production company

Awards & Community

Recognized as a Texas Super Lawyer-Rising Star (Thomson Reuters), 2017

News

Events

Recent