Kyle W. Drefke is the Office Leader of the Washington, D.C. office and a member of the firm’s Energy and Infrastructure Group. His practice focuses on advising energy industry participants in a wide range of finance, project development and corporate transactions.
Financings. Mr. Drefke has represented clients in domestic and international financings, including syndicated credit facilities, private placements, and registered securities offerings. Representative matters include representation of:
- a generation and transmission cooperative (G&T) in a US$1.4 billion Rule 144A debt offering, the largest ever capital markets debt issuance by a G&T, as part of a buy-out from the U.S.D.A. RUS loan program;
- an investor-owned utility in the implementation of a new first mortgage indenture and an accompanying US$640 million syndicated credit facility as part of a restructuring of the company; and
- a G&T in a US$350 million private placement of long-term debt securities to finance the construction of its undivided ownership interest in a coal-fired power plant.
Project Development and Ownership. Mr. Drefke has represented clients in various matters relating to the development, construction, ownership and operation of electric generation facilities in the United States, South America and Europe, including representation of:
- an investor-owned utility in the negotiation of joint ownership arrangements relating to construction of a combined cycle facility;
- a G&T in an 850 megawatt long-term power sales agreements with two aluminum smelters; and
- a leading international renewable industry participant in development matters for of several U.S. wind projects.
DOE Funding. Mr. Drefke has represented clients obtaining substantial financing commitments from the U.S. Department of Energy, including:
- a public power agency in a US$1 billion+ DOE loan guarantee commitment to finance its undivided interest in the first new nuclear generation units to be constructed in the U.S. in more than 30 years;
- an automotive company in a US$528 million DOE loan guarantee commitment for the development of next generation electric vehicles; and
- an international conglomerate's negotiation of a DOE grant to fund construction of a U.S. manufacturing facility.
M&A and Corporate. Mr. Drefke has represented clients in mergers and acquisitions, auctions, joint ventures, corporate restructurings and other general corporate matters, including representation of:
- three cooperatives in the separate purchases of the Virginia electric distribution assets of two investor owned utilities; and
- a leading renewables developer in a joint venture with two other leading renewables developers.