Baker Botts advised Riverstone Credit Partners on the deal.
Blackbuck Resources LLC, 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. 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.
The Baker Botts Team included: Andrew Thomison (Partner, Houston, Picture), Clint Culpepper (Special Counsel, Austin) and Regan Vicknair (Associate, Houston); Patrick Matthews (Special Counsel, Dallas); Kyle Doherty (Associate, Houston); Aileen Hooks (Partner, Austin) and Greta Carlson (Associate, Houston); Jon Lobb (Partner; Houston), Krisa Benskin (Special Counsel, Houston) and Peter Farrell (Senior Associate, Washington).
Involved fees earner: Krisa Benskin – Baker Botts LLP; Greta Carlson – Baker Botts LLP; Clint Culpepper – Baker Botts LLP; Kyle Doherty – Baker Botts LLP; Peter Farrell – Baker Botts LLP; Aileen Hooks – Baker Botts LLP; Jon Lobb – Baker Botts LLP; Patrick Matthews – Baker Botts LLP; Andrew Thomison – Baker Botts LLP; Regan Vicknair – Baker Botts LLP;
Law Firms: Baker Botts LLP;
Clients: Riverstone Credit Partners;