Practice Capabilities
Loeb & Loeb’s Energy Group has decades of experience in helping clients with all the legal and financial aspects involved in undertaking major energy transactions in the US and abroad.
In close collaboration with colleagues from many of the firm’s practices and disciplines, especially those from our Corporate, Finance, Litigation, Tax and Real Estate Groups, our Energy attorneys advise clients that are involved in all aspects of the energy industry, including traditional electric, nuclear, and natural gas companies, as well as owners, developers and investors in facilities dedicated to solar, wind, water, geothermal, waste-to-energy and “green” energy resources.
Loeb & Loeb’s diverse energy transactional capabilities include:
- Mergers and acquisitions
- Project and facility financings
- Public offerings
- Debt financings
- Private placements
- Lines of credit
- Credit tenant loans (CTLs)
- Construction and long-term financing
- Collateralized securities
- Tax-exempt financing
- Private Investment in Public Equity (PIPE) transactions
- Subordinated debt and mezzanine facilities
- Second-lien facilities
- Real estate financing
- Bankruptcies and workouts
Service Approach
Loeb & Loeb’s cross-practice collaboration and knowledge of the regulatory, real estate, tax and compliance aspects of the industry are at the heart of our commitment to our clients. This commitment results in our ability to consistently deliver a comprehensive, coordinated legal approach that adds value for every Loeb & Loeb client and to every transaction we handle on their behalf.
Our representative energy transactions include:
- Represented Munich Re (shareholder of E.ON) in a $13.7 billion acquisition of PowerGen by E.ON.
- Represented Sonat Offshore Drilling, Inc. in a joint venture with PSNC Production Corporation, a subsidiary of Public Service Company of North Carolina Inc.
- Represented Energy East Corporation in connection with five acquisitions aggregating a value in excess of $3.6 billion, and in the sale of generation assets valued at $2 billion.
- Represented Pennsylvania Enterprises, Inc. and Pennsylvania Gas and Water Company in the $415 million sale of all the assets of their water business to Pennsylvania-American Water Company, a wholly-owned subsidiary of American Water Works Company, Inc.
- Represented Montana and South Dakota municipalities in a proposed hostile acquisition of Northwestern Energy, Inc.
- Represented Emera in the $22 million acquisition of a 19 percent interest in St. Lucia Electricity Services Limited (Lucelec) from the Caribbean Basin Power Fund.
- Represented Lattice in a $9.4 billion merger with National Grid.
- Represented Babcock & Brown in its $213 million acquisition of Cross Sound Cable Company LLC.
- Represented Energy East Corporation and Energy East Capital Trust in multiple financings, including $345 million of trust preferred securities issued by Capital Trust, guaranteed by Energy East and underwritten by Morgan Stanley and UBS; $500 million of putable asset term securities underwritten by UBS; and $990 million of senior unsecured debt underwritten by various underwriters including Morgan Stanley, JPMorgan, UBS and Credit Suisse First Boston.
- Represented Merrill Lynch, JP Morgan Securities and Morgan Stanley in public offerings of $264.5 million of pollution control bonds issued by the New York State Energy Research and Development Authority on behalf of two electric and gas utilities.
- Represented New York State Electric & Gas in public offerings of $450 million of bonds and $204 million of tax-exempt notes.
- Represented Pennsylvania Enterprises, Inc. in the adoption of a shareholder “poison pill” rights plan and a rights offering (stemming from statutory pre-emptive rights) followed by a $30 million public offering of common stock. Also represented the utility in a $78 million 13E-4 issuer “Dutch auction” tender offer to purchase up to two million shares of its common stock; and the public offering of $30 million aggregate principal amount of its senior notes.
- Represented Pennsylvania Gas and Water Company in connection with the offering and private placements of $30 million and $50 million principal amounts of its first mortgage bonds; the execution of evolving credit facilities valued at $120 million; and the offering of revenue refunding bonds aggregating a value of $49 million.
- Represented PG Energy, Inc. in a $27 million 13E-3 issuer tender offer.
- Provided ongoing representation to Central Vermont Public Service (CPVS) in its $700 million sale to Canadian power company Fortis Incorporated.