Counsel to Barclays Bank PLC and KeyBank National Association

Preferred Proppants LLC

Our attorneys represented Barclays Bank PLC and KeyBank National Association in their capacities as co-administrative agents, under a $555 million first lien Amended and Restated Credit Agreement extended to Preferred Proppants LLC. The restructuring efforts on behalf of the agents and the first lien steering committee included complex negotiations with Preferred, the equity, potential asset purchasers and the second lien debt holder. Preferred is a supplier of frac sand in the United States and Canada which is used in hydraulic fracking at oil and natural gas wells.

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