Haynes Boone Represents Mizuho Bank in $1.5 Billion Acquisition Financing to Targa Resources

Haynes Boone Houston Partner Brent Shultz led a team representing Mizuho Bank, Ltd., in a $1.5 billion delayed draw term loan to Targa Resources Corp. The proceeds of the loan will be used by Targa in connection with its $3.55 billion acquisition of Lucid Energy Delaware, LLC. Lucid provides natural gas gathering, treating, and processing services in the Delaware Basin. The acquisition, announced in June, is expected to close in the third quarter of 2022.

Shultz represents banks, financial institutions, investment funds and borrowers in a range of complex financing transactions.

He was assisted on the matter by Haynes Boone Partners Laura Martone, Stephen Grant, Paul Amiel, and Jennifer Wisinski; Counsel Edward Bontkowski and Nick Monier; and Associates Nicole Rubin, Brent Beckert and Ellen Conley.

The firm’s Finance Practice Group has handled hundreds of deals worldwide in recent years. The firm structures new and sophisticated financing vehicles that fit the business needs of its clients, and it brings together lenders and borrowers to make deals. The Loan Pricing Corporation Law Firm League Tables, a national ranking of law firms handling syndicated loan transactions on behalf of lead arrangers, agents, or borrowers, has consistently ranked Haynes Boone among the Top 15 firms in the U.S. in terms of total volume of syndicated loans handled by the firm on behalf of lenders.

Haynes Boone is an international corporate law firm with offices in Texas, New York, California, Charlotte, Chicago, Denver, Washington, D.C., London, Mexico City and Shanghai, providing a full spectrum of legal services in energy, technology, financial services and private equity. With 600 lawyers, Haynes Boone is ranked among the largest U.S.-based firms by The National Law Journal, The American Lawyer and The Lawyer. It was recognized in the BTI Consulting Group’s 2022 “A-Team” report, which identifies the law firms that in-house counsel commend for providing superior client service.