Robert G. Stephens

Phone713 343 7575

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Experience & Credentials
 

Practice Areas

  • Commercial Finance
  • Corporate
  • Corporate Finance
  • Derivatives & Structured Products
  • Renewables
  • Distressed Energy
  • Energy & Commodities
  • Energy & Commodities Transactions
  • OTC Derivatives
 
Contact InfoTelephone: 713 343 7575
Fax: 713-343-7550
http://www.cadwalader.com/professionals/robert-stephens
 
University University of Wisconsin-Madison, B.B.A., with honors, 1985; University of Wisconsin School of Business, M.B.A., Finance, 1987
 
Law SchoolThe University of Texas School of Law, J.D., with honors, 1990
 
Admitted1990, Texas; 2004, New York
 
Biography

Robert Stephens represents energy companies, financial institutions, project sponsors, and private investors in a wide range of energy transactions and financings. These include, among others, structured energy financing transactions, such as credit sleeves, credit guaranties and securitizations; domestic and international project finance and development transactions involving gas, wind and geothermal power generation facilities; natural gas and gas liquids storage facilities, pipelines, liquefied natural gas (LNG) facilities and petrochemical plants; acquisition and divestiture transactions involving energy commodity trading companies, power generation facilities and other energy assets; and energy commodity transactions, including long-term structured power and natural gas supply facilities. Many of these transactions involve secured credit and bankruptcy planning structures, and Robert frequently handles corporate restructurings and reorganizations as well.

Named as one of the leading lawyers in the United States in energy law by Chambers USA, a Guide to Leading Lawyers, Robert graduated from the University of Wisconsin - Madison, earned his M.B.A. in Finance from the University of Wisconsin School of Business, and received his J.D., with honors, from the University of Texas School of Law. He is admitted to practice in New York and Texas and is a member of the Houston Bar Association.

Experience

Energy Finance

• Represented American Renewables, LLC, in the negotiation of $472 million of project financing commitments provided by the Bank of Tokyo-Mitsubishi and WestLB AG for the development of a 102.5MW biomass fired power production facility located in Sacul, Texas

• Represented RRI Resources, Inc., in the restructure of its $1 billion plus in exposure credit sleeve provided by Merrill Lynch Commodities, Inc., in connection with the sale of Reliant Energy Retail Holdings, LLC, to NRG Energy, Inc.

• Represented Citigroup Energy Inc. in providing a project asset secured wind hedge to a subsidiary of Invenergy, in connection with the $175 million financing and construction of a wind project in New York

• Represented Citigroup Energy Inc. in providing a project asset secured wind hedge to Noble Environmental Power, in connection with the financing and construction of three related wind projects in New York

• Represented Merrill Lynch Capital Services, Inc., and certain of its affiliates in connection with the debt and equity financing of a geothermal power plant located in Beaver County, Utah

• Represented Calpine, Inc., in structuring and documenting a credit sleeve transaction providing a Bear Stearns credit sleeve for the wholesale trading needs of Calpine

• Represented RRI Resources, Inc., in development of a collateral trust structure for securing $5.35 billion of financial institution debt, public notes and tax-exempt bonds in the restructure of RRI Resources debt, and in the development of a $350 million securitization facility based on retail electric power receivables

• Represented Repsol in the proposed development of an offshore LNG facility (transaction ultimately postponed)

• Represented various sponsors in project developments and associated project financings totaling more than $1 billion for the development or acquisition of power plants in Argentina, Colombia and Mexico, including Inter-American Development Bank financing for a Mexican project

• Represented Bank of America, N.A., in various acquisition financings, including more than $1 billion in syndicated facilities for roll-up transactions

Energy, Corporate and M&A

• Represented Constellation Energy Group, Inc., in the divestiture of the assets comprising its wholesale power trading business in the Western Electricity Energy Council power region to Eagle Energy

• Represented Constellation Energy Commodities Group, Inc., in the $95 million purchase of the equity of an Omaha, Neb.-based natural gas supplier with distribution across the great plains and Midwest

• Represented Constellation Energy Group, Inc., in the acquisition of Water and Energy Savings Corporation, a Florida-based energy savings contracting business

• Represented Constellation Energy Commodities Group, Inc., in the bankruptcy of Catalyst Energy Group, an Atlanta-based retail gas supplier for which Constellation was the senior secured lender

• Represented Bear Energy, Inc., in its winning bid for the trading contract and power plant assets of an Eastern U.S. power and trading company

• Represented YPF, S.A., in the review and restructuring of its $400 million plus equity and debt investments in the United States

• Represented Entergy, Inc., in the approximately $100 million acquisition of a merchant power plant

• Represented an independent investor in the acquisition of a local gas distribution company from a utility

• Represented a merchant energy company in the winning bid for, and related engineering, procurement and construction (EPC) contract for, a Comisión Federal de Electricidad (CFE) bid project in Mexico

Energy Contracts

• Represented Constellation Energy Resources, LLC, in the negotiation and documentation of a three year all requirements natural gas supply facility provided by Macquarie Cook Energy, LLC, secured by all of the assets and equity of Constellation's retail gas business

• Represented Constellation Energy Commodities Group, Inc., in the structuring and documentation of a five year all requirements natural gas supply facility for Superior Energy, an Ontario, Canada-based retail gas supplier with operations in Ontario and British Columbia with anticipated sales over the five years in excess of 230 Bcf or approximately $1.7 billion, secured by the assets and equity of the retail gas business

• Represented Bear Energy, LP, in the negotiation and documentation of a precedent agreement as anchor shipper for capacity of the proposed Oil Springs natural gas storage facility in Wyoming, with interconnecting pipelines from Rockies Express Pipeline LLC, Wyoming Interstate Company and Colorado Interstate Gas Company

• Represented Constellation Energy Commodities Group, Inc., in the structuring and documentation of a secured electric energy supply facility for an Ontario, Canada-based retail electricity supplier including intercreditor agreements to share liens with CIBC and a club of wholesale energy suppliers

• Represented Pride International, Inc., in structuring and documenting a $500 million plus drillship contract for an ocean-going ultra deepwater drillship from Samsung Heavy Industries Co., Ltd.

• Represented a national energy company in the development of long-term supply, service, and storage contracts supporting the divestiture of a chemical and natural gas processing and storage complex on the Gulf Coast of Texas.

 
ISLN903433103
 
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Office Information

Robert G. Stephens

1111 Bagby Street, Suite 4700
HoustonTX 77002




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