Deal Description: Blackbuck Resources LLC (“Blackbuck”), which designs, builds, and operates water infrastructure, entered into a sustainability-linked term loan with Riverstone Credit Partners LLC, a dedicated energy and power credit fund managed by Riverstone Holdings LLC (“Riverstone”). The financing provides an initial commitment of $50 million plus an accordion feature, which gives Blackbuck additional liquidity for growth. The facility’s pricing will be adjusted based upon Blackbuck’s adherence to certain sustainability performance targets, which are defined by key performance indicators set internally by Blackbuck.
Baker Botts represented Riverstone in the transaction.
The Baker Botts Team included:
Finance: Andrew Thomison (Partner, Houston), Clint Culpepper (Special Counsel, Austin) and Regan Vicknair (Associate, Houston)
Real Estate: Patrick Matthews (Special Counsel, Dallas)
Global Projects: Kyle Doherty (Associate, Houston)
Litigation: Aileen Hooks (Partner, Austin) and Greta Carlson (Associate, Houston)
Tax: Jon Lobb (Partner; Houston), Krisa Benskin (Special Counsel, Houston) and Peter Farrell (Senior Associate, Washington)
The press release can be found here.
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