Jeff M. Kayes

Partner

Jeff Kayes

San Francisco

P: +1.415.291.6200 F: +1.415.291.6300

Project and Project Warehouse Financings

  • Represented lender in a $47 million cash equity investment in a solar company which installs, owns and operates a large portfolio of residential solar assets subject to long-term leases.
  • Represented a borrower in connection with a $150,000,000 term loan (subject to a commitment increase in the sole discretion of the lenders) secured by an all-assets lien granted by the borrower and its direct subsidiary as guarantor, including a pledge of the equity interest in the direct subsidiaries of such borrower and guarantor, which are project companies that (i) own, operate, manage or lease clean energy systems or (ii) finance the development, construction or operation of such systems, some of which hold existing tax equity and senior debt.
  • Represented lender in a $120 million mezzanine loan to a solar company which was collateralized by the cash flows paid to the sponsor after servicing debt on an asset-backed securitization backed by several portfolios of small residential solar projects, most of which are held through tax equity funds with various tax equity investors.
  • Represented lender in connection with $110.5 million warehouse loan secured by equity interests in 12 residential solar funds, each with existing tax equity and back-leverage debt.
  • Represented borrower in connection with $40 million loan secured by loan to sponsor secured by equity interests in 12 residential solar funds, each with existing tax equity and back-leverage debt.
  • Represented borrower in connection $150 million term loan secured by equity interest in numerous renewable energy investments.
  • Represented lender in connection with a $10 million revolving loan to a developer in connection with the development of utility scale solar projects.
  • Represented lender in connection with ten separate front- and back-leveraged loans secured by interest in tax equity funds and residential solar assets.
  • Represented a renewable energy developer in connection with the five separate construction, term and tax equity financings for utility-scale solar projects in North Carolina.
  • Represented a lender in connection with $30 mezzanine revolver secured by solar assets participating in PACE programs across the country.
  • Represented issuer in connection with $170 million 4(a)(2) note offering secured by land underlying utility-scale solar projects and associated rents.
  • Represented a private equity fund as borrower in the construction and term project financing of several utility-scale solar projects in Mississippi, Arizona and California.
  • Represented a renewable energy investment fund in the restructuring of various investments from equity to debt for tax purposes secured by interest in utility-scale solar projects.
  • Represented a borrower in connection with a $101 million acquisition financing for a company holding land underlying numerous utility-scale solar projects.
  • Represented a borrower in connection a $135 million loan secured by loans made to a solar developer secured by interests in three residential solar funds.
  • Represented a borrower in connection a $50 million bridge loan secured by loans made to a solar developer secured by interests in three residential solar funds.
  • Represented a borrower in connection a $161 million loan secured by loans made to a solar developer secured by interests in seven residential solar funds.
  • Represented a private equity fund as borrower in connection with its $520 million financing for the acquisition of an existing gas-fired facility in Pennsylvania.
  • Represented a private equity fund as borrower in connection with $750 million term loan B financing for three gas-fired projects in PJM and in connection with senior letter of credit facility for one such project.
  • Represented a private equity fund as borrower/sponsor in connection with its construction, back-leverage financing and tax-equity funding of a 298 MW wind project in Oklahoma.
  • Represented a renewable energy developer as borrower in connection with a $70 million construction financing of a utility-scale solar project in New York.

Acquisition Financings

  • Represented a private equity fund as borrower in connection with its $165 million financing for the acquisition of a company that provides after-market car services in connection with the import of cars.
  • Represented a private equity fund as borrower in connection with its $520 million financing for the acquisition of an existing gas-fired facility in Pennsylvania.
  • Represented a private equity fund as borrower in connection with $40 million the acquisition financing of a leading speaker manufacturer.
  • Represented a borrower in connection with a $101 million acquisition financing for a company holding land underlying numerous utility-scale solar projects.
  • Represented company in connection with $2.4 billion term loan B and $200 million revolving financing to acquire rival semi-conductor company.

Other Debt Financings

  • Represented a business development company as lender in connection with 10+ loans to middle market biotech and healthcare companies, ranging from $10 million to $50 million.
  • Represented borrower in connection with $15 million term loan and restructuring of same.
  • Represented borrower in connection with $40 million term loan.

Equity Financings

  • Represented investor in connection with preferred equity investment into residential solar portfolio with tax equity and front-leverage financing.
  • Represented investor in connection with preferred equity investment into residential solar portfolio with tax equity and back-leverage financing.

Purchase and Sale Transactions

  • Represented a renewable energy investment fund as the cash equity provider in a tax equity fund to procure tranches of commercial-scale solar projects in SREC states.
  • Represented a sponsor as the cash equity provider in a tax equity fund to procure tranches of commercial-scale solar projects.
  • Represented developer in connection with the sale of a 25 MW solar project in New York to Duke Energy.
  • Represented developer in connection with the acquisition of a 500 MW development-phase project from the bankruptcy estate of Solar Millennium.
  • Represented developer in connection with the acquisition of a 298 MW wind project in Oklahoma.
  • Represented developer in connection with the acquisition of a 200 MW wind project in Texas.
  • Represented developer in connection with the acquisition of a 200 MW development-phase wind project in Texas.
  • Represented developer in connection with the acquisition of a 250 MW wind project in Texas.
  • Represented Regenerate Power LLC in the acquisition of a 350 MW development-stage utility-scale solar project on BLM land.

Other Energy Transactions

  • Represented private equity fund in numerous early-stage royalty investments in wind projects totaling over 4 GB.
  • Represented a large wine producer in the procurement of 2 MW of ground-mounted solar at several sites, including an EPC Contracts, O&M Agreements, and Performance Guarantees.
  • Represented a private equity fund in the negotiation of a joint development agreement regarding a portfolio of commercial-scale solar projects.
  • Represented a media company in the negotiation of several commercial-scale solar PPAs.
  • Represented a realty company in connection with the negotiation of a thermal energy services agreement for its rooftop solar water heater program.