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Latham & Watkins Advises Anvil Channel Energy Solutions in Completion of USD$51.35 Million Acquisition Financing

March 10, 2022
A Houston-based team advises the private direct lender in a cross-border financing.

Anvil Channel Energy Solutions has announced the final close of a USD$51.35 million senior secured term loan facility to ROK Resources, Inc., supporting the acquisition of producing oil and gas assets, primarily in Saskatchewan and Alberta, Canada from Federated Co-operatives Limited. Total consideration paid for the acquisition was approximately CAD$72 million; Anvil’s loan facility was sized at USD-equivalent to CAD$65 million.

Latham & Watkins LLP represents Anvil Channel Energy Solutions in the transaction with a finance team led by Houston partner Catherine Ozdogan, with Houston associate Benjamin Gelfand, Austin associate Erin Cusenbary and Houston associate Kirby Swartz. Advice was also provided on corporate matters by Houston associate Alice Parker; and on tax matters by Houston partner Jim Cole, with Houston associate Dominick Constantino.