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Home > Lawyers
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Mark R. Spradling
Mark R. Spradling
Experience | Education | Recognition | Activities | Publications
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Biography
Mark's international business practice emphasizes finance and project development. He has had extensive experience in a broad array of commercial transactions, including acquisitions, sales, construction, development, management, leasing, and project, structured, and commercial financings of pipelines, storage facilities, power plants, chemical facilities, and commercial real property; entity formations; loan restructurings; and workouts. His clients include project developers, commercial and investment banks, insurance companies, energy companies, utilities, and individuals.
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Representative Experience
Projects
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- Represented a Fortune 100 financial investor in forming a joint venture to acquire a crude oil processing platform and a concurrent cash distribution to the contributing partner; negotiated and drafted the closing documents for a follow-on JV financing of the associated take-away lines, but the seller accepted a competing offer; work involved documenting the transaction as a “true sale” from the original owner to the acquisition partnership, ring-fencing the partnership and its general partner, and providing for multiple layers of future equity investments, including an MLP IPO exit strategy with preferred units to preserve the investor’s expected IRR
- Represented NorTex Gas Storage Company, LLC in connection with the client’s redevelopment and expansion of storage facilities with a working gas capacity of 30 Bcf and the construction and installation of the associated pipelines and gas processing facilities; drafted the Risk Management policy and the ISDA documents for the contango natural gas trading and the spot and forward liquids sales and the credit documents to accommodate the physical trading; financing was named Project Finance’s 2007 North America Oil & Gas “Deal of the Year”
- Represented an international pipeline company in the development and financing of a pipeline serving the Canadian Maritimes provinces and the northeastern U.S.
Structured Finance
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- Representing a Dubai-based investment bank in negotiating and placing a sukuk offering to invest in a Musharaka formed to hold an interest in South American oil and gas fields
- Represented a GCC investment bank in negotiating a sukuk offering to invest in a volumetric production payment from production in the Gulf of Mexico
- Ring-fenced a regulated utility to preserve its investment grade credit rating despite the leveraged buyout of its parent
Syndicated Finance
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- Represented a mid-stream energy company in a commodity-based inventory and receivables borrowing base financing for its liquids marketing business
- Represented a major international chemical company in restructuring $3.86 billion of its senior secured bank and capital markets debt and associated restructuring of its worldwide collateral security package
- Represented a major international company in the merger of two of its subsidiaries and the collapsing of their independent bank debt into one facility, the related restructuring of the resulting company’s international security, and the retirement of some high-yield bonds
Prior results do not guarantee a similar outcome.
Education and Professional Background
- Stanford University, J.D., 1980 (Order of the Coif; Associate Editor, Stanford Law Review)
- Dartmouth College, A.B., summa cum laude and with highest distinction (History), 1977 (Phi Beta Kappa)
- Judicial clerk to The Honorable Robert A. Ainsworth, Jr., U.S. Court of Appeals for the Fifth Circuit, 1980 - 1981
- Admitted to practice: Texas, 1980
Professional Recognition
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- Legal 500 U.S. in project finance law, 2011
- Chambers Global: The World's Leading Lawyers for Business in projects law, 2011
- The Best Lawyers in America® in international trade and finance law 2003-2011; project finance law, 2008 - 2011; structured finance law, 2011
Activities and Affiliations
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- Member: Law Firm Advisory Board, American Bar Association Working Group on Legal Opinions
- Board of Directors: Houston Grand Opera (2004 - present)
- Board of Directors: Wortham Center Operating Company (2009 - present)
Publications and Presentations
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Full Biography
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First City Tower
1001 Fannin Street
Suite 2500
Houston, TX 77002-6760
Tel +1.713.758.2828
Fax +1.713.615.5545
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