Recent Financing Transactions:

Josh helps clients obtain a market view on financing terms through the volume of financing transactions, both secured and unsecured, that he works on. He has represented the following companies in recent financing transactions:  

• US$175 million credit facility to finance Nvidia GPU purchases to be deployed in a clean energy powered AI data center in Iceland.
• US$224 million secured multi-draw term credit facility (w/US$400 million total accordion) to finance GPU and related networking purchases for data center operations in Iceland.  The GPUs are deployed at a high-density co-location data center powered by sustainable geothermal and hydro-electric energy.
• US$750 million credit facility to accelerate the construction for third parties of new data centers devoted to AI computing.  The facility was secured by a novel collateral package and tied to a borrowing base calculated based on the potentially fluctuating value of pending data center construction projects.
• Upsized commercial paper facilities to US$3.4 billion for multinational entity.
• Representation of Brazos Electric Power Cooperative, Inc. (Brazos) in its Chapter 11 case including DIP financing, power price hedging and exit financing.
• Represented a Montana based renewable diesel and sustainable aviation (SAF) refinery, providing a US$90 million revolving credit facility and a supply and offtake / commodity intermediation facility for approximately 15,000 barrels per day of permitted feedstocks (including soybean oils and rendered animal fats).
• Represented client in establishing its US US$2.5 billion commercial paper program.
• Represented refiner, using ISDA based documents, to establish a US$120 million commodity intermediation and loan facility to finance production of low sulphur diesel and SAF.  The ISDA CSA “Delivery Amount” concept was used to establish the loan funding obligation based on periodic inventory exposure calculations.

 Recent Swaps and Hedging Transactions:

Josh has represented clients in the following hedging transactions:

• Natural gas and power company in swaps transactions
• Natural gas and power company in swaps transactions in F/X and commodities
• Multinational manufacturer of polyolefin materials in swaps transactions in F/X, commodities and (EU) carbon emissions credits
• Operator of gas processing plants in F/X swaps
• Large integrated oil and gas company in F/X and commodities swaps
• Multinational conglomerate engineering, procurement and construction company in F/X and commodities swaps
• Refiner of fuels and specialty chemicals in restructuring of agented secured (multi-provider) commodity swaps facility
• Producer of construction aggregates and chemicals in establishment of swaps facilities with multiple providers
• Multinational energy service company in establishment of agented swaps facilities for F/X and interest rate swaps
• Multinational energy infrastructure design, engineering and construction firm in establishing F/X and interest swaps facilities
• Publicly held entertainment company, and governmental agency, in swaps valuation disputes

Other Recent Commercial Transactions

Josh has also represented clients in certain other transactions:

• Supply and offtake transactions for crude oil and finished product inventory financing for refinery and specialty chemical company
• Litigation financing transactions
• Letter of credit and guaranty matters
• RINs trading documentation
• Commodity leasing
• Large energy trading company in review and analysis of intercreditor arrangements and collateral analysis
• Comprehensive logistics services agreement for semiconductor related manufacturer, with Ryder Integrated Logistics for product delivery to lineside, including intra-campus deliveries, transport and trucking, exit agreement, and other related agreements
• Logistics services agreement for retail clothing chain
• Logistics agreements for food and candy companies
• Logistics services agreement for English semiconductor related manufacturer, with non-US 3PL  
• Manufacturer and distributor of forklifts in a joint venture with German company for U.S. manufacture and distribution of EU sourced warehouse products
• Energy service companies in the redesign of their standard terms and conditions of sale and purchase
• Financing, Ts & Cs, creditors' rights and revenue recognition related projects for oil field tubular goods vendors and purchasers