Orrick Represents Basin Electric in its First Global Private Placement


A cross-practice and office Orrick team recently represented long-time client Basin Electric Power Cooperative (“Basin Electric”), a wholesale electric generation and transmission cooperative based in North Dakota, in the issuance of US $1.5 billion in bonds. The bonds were offered on three continents (Europe, North America and Asia), and the proceeds will be used, among other things, to buy out its debt to the United States Rural Utilities Service.

Orrick has represented Basin Electric on numerous transactions in the past, including 144A offerings, private placements, bank loans, lease transactions and acquisitions, including a private placement of US $475 million senior secured notes in May 2015 for its subsidiary Dakota Gasification Company.

“We are extremely thrilled that we were able to assist Basin Electric in such a groundbreaking transaction, and hope to continue working with both Basic Electric and many other cooperatives in their future success as well,” said Carl Lyon, partner of Orrick’s Energy & Infrastructure group, who led the transaction.

The Orrick team also included Kyle Drefke (partner), Victoria Boyne (managing associate), Bob Lawrence (senior counsel), Chris Hutchison (associate), Michael Shiu (associate) and Zach Huey (associate) of the Energy & Infrastructure group, Susan Gottlieb (of counsel) of the Public Finance group and John Narducci (partner) and Jamie Larkin (senior associate) of the Tax group.