Deal Description: On August 5, 2025, Howard Midstream Energy Partners, LLC, a Delaware limited liability company (“Howard Energy” or the “Company”), announced the upsized pricing of a private placement (the “Offering”) under Rule 144A and Regulation S under the Securities Act of 1933, as amended, of $750 million in aggregate principal amount of 6.625% Senior Notes due 2034 (the “Notes”). The Notes will be guaranteed by certain subsidiaries of Howard Energy. The Notes mature on January 15, 2034 and will be issued at par. The Offering is expected to close on August 8, 2025, subject to customary closing conditions.

Howard Energy intends to use the net proceeds from the Offering, to (i) fund the redemption of all of the $550.0 million aggregate principal amount of its outstanding 8.875% Senior Notes due 2028 (the “2028 Notes”), (ii) fund the repayment of a portion of outstanding borrowings under its revolving credit facility and (iii) pay the premiums, fees and expenses incurred in connection with the Offering and the redemption of the 2028 Notes. Any excess proceeds will be used for general corporate purposes.

Baker Botts L.L.P. represented the initial purchasers in the Offering, led by RBC Capital Markets, LLC.

The Company’s press releases can be found here and here.

Value: $750 million

Baker Botts Lawyers/Office Involved:

Corporate: Doug Getten (Partner, Houston); Clint Rancher (Partner, Houston); Andrew Schulte (Partner, Houston); Will Cozzens (Associate, Austin); Sarah Dyer (Associate, Houston); Cade Luedde (Associate, Houston); Brevan Ward (Associate, Houston); Adrienne Murr (Associate, Houston)

Finance: Clint Culpepper (Partner, Austin); Dela Peimani (Senior Associate, Austin); Morgan Copher (Associate, Dallas)

Tax: Jon Lobb (Partner, Houston); Jared Meier (Senior Associate; Houston)

Environmental: Elizabeth Singleton (Special Counsel, Houston)

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.