Neal A. Bakare

Of Counsel

Overview

Neal A. Bakare is of counsel with Foley Gardere, where he is a member of the firm’s Finance Practice.

Prior to joining the firm, Neal worked for a global investment banking and diversified financial services group and an international law firm, in addition to being seconded to an American multinational investment bank and financial services company. Neal has represented clients in banking, business, renewables, and oil and gas.

Representative Experience

Debt Financing Transactions

  • Representation on multiple mezzanine financings of oil and gas exploration companies with committed amounts ranging from $5 million to $40 million in the US, Canada, France, and Colombia
  • Representation as administrative agent in the negotiation and execution of a revolving credit agreement and security documents with an oil and gas exploration company
  • Representation as a syndicate lender in lending syndicates in the negotiation and execution of credit agreements and security documents
  • Representation on a solar EPC construction financing
  • Representation of the operating company of a master limited partnership in the entering into of a revolving, term, and swingline loan credit agreement with total commitments of $800 million, including assisting in the drafting and negotiation of the credit agreement and other documents

Equity Transactions

  • Representation in various equity investments in both the public and private markets domestically and in Canada
  • Representation of a private company in obtaining $60 million in equity financing from an investment bank
  • Representation of a private equity fund in providing up to $100 million in equity financing to a start-up clean tech company

Mergers and Acquisitions Transactions

  • Representation of a private equity fund in its acquisition of wind power generation assets from a distressed Australian investment bank
  • Representation of an investment bank in its lease of certain U.S. syncoal assets to generate tax credits
  • Representation of the partners of a limited partnership in the sale of their partnership interests in a fuel storage business to a private equity fund for $165 million, including assisting in the drafting of the purchase and sale agreement and various ancillary documents
  • Representation of a public company in the sale and contribution of certain assets valued at approximately $100 million to its publicly held master limited partnership, including assisting in negotiating and drafting the asset purchase agreement, the contribution agreement, and various other documents
  • Representation of a private equity fund in the review of documentation related to an investment in a coal mine

Oil and Gas Transactions

  • Represented a major oil company in $10.5 billion share purchase with BHP Billiton pursuant to which the oil company agreed to acquire substantially all of BHP Billiton's onshore US oil and gas properties
  • Representation of a large upstream oil and gas corporation in bids for oil and gas assets
  • Representation of a large international company in its purchase of U.S. shale assets
  • Representation of multiple investment banks in the purchase of volumetric production payments from a large E&P company, including reviewing title opinions, farm-out agreements and leases and negotiating, drafting, or reviewing purchase and sale agreements, conveyances, mortgages, and gas and oil sales agreements
  • Representation of bidders on oil and gas interests in the bid sales of such interests, including reviewing joint operating agreements and purchase and sale agreements
  • Representation of the buyer of oil and gas interests, including negotiating, drafting, or reviewing the purchase and sale agreement, conveyance, and other ancillary documents
  • Representation of the buyer in the purchase of gas interests and contribution of those interests to a newly formed limited liability company for a total transaction value of $262 million, including assisting in the drafting of the contribution agreement, the limited liability company agreement, the purchase and sale agreement, various amendments to the aforementioned documents, and other documents
  • Representation of the owner of Gulf of Mexico gas interests in the bid sale of such interests, including drafting the purchase and sale agreement
  • Representation of the owner of oil and gas interests in the sale of those oil and gas interests to a private equity fund, including negotiating and drafting the purchase agreement, and other documents
  • Representation of the owner of Gulf of Mexico gas interests in assisting in negotiating and drafting a participation agreement
  • Representation of a drilling fund in assisting in negotiating and drafting a joint development agreement

Hedging Transactions

  • Representation of the hedge provider in the hedging of power produced at power generating stations, including negotiating, drafting, and reviewing ISDA master agreements, schedules, annexes, and related documentation
  • Representation of a potential hedge provider in the entering into of a credit agreement that would govern hedging relationships

*These matters were handled prior to joining Foley Gardere.

Education

  • J.D., Tulane University Law School, (2006), magna cum laude
    • Top 3% of the class
    • Order of the Coif
    • Real Estate Law Award
    • Highest grade in class in business enterprises, secured transactions, law and economics, real estate transactions, admiralty, and international sale of goods
  • B.A., Yale University, (2001)
    • Finance

Admissions

  • Texas (2006)

Capabilities

Insights