Akin Gump advised Elliott Associates, L.P. and Elliott International, L.P., (collectively “Elliott”) in connection with a $100 million term loan credit agreement among Roan Resources Inc. (“Roan”), as borrower, Cortland Capital Market Services LLC, as administrative agent, Elliott and the other lenders party thereto.
In exchange for the loan commitments under the term loan credit agreement, Roan—an independent oil and natural gas company—agreed to issue one percent of its Class A common stock (the “Commitment Shares”). The Commitment Shares were issued on June 26, 2019, and the term loan credit agreement closed on June 27, 2019.
Daniel Fisher, a partner in Akin Gump’s corporate practice and co-leader of its integrated special situations group, led the team advising Elliott. He was joined by corporate finance partner Fred Lee, also co-leader of Akin Gump’s integrated special situations group, and global energy and transactions partners Eric Muñozand Shar Ahmed and associate Tyler Conte.