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King & Spalding Advises SunTrust Bank On $236 Million Gas Storage Project Financing
03 May 2007

ATLANTA, May 3, 2007—King & Spalding, a leading international law firm, announced today that it advised SunTrust Bank, as collateral agent and administrative agent, and SunTrust Robinson Humphrey, as lead arranger, in connection with a $236.5 million project financing ($101.5 million revolving loan and $135 million term loan) provided to SGR Holdings, L.L.C., which will be used to refinance existing indebtedness and to develop, construct and operate the Southern Pines Energy Center gas storage project in Greene County, Miss.

The Southern Pines Energy Center project is an underground salt-dome natural gas storage project located in Greene County, Miss. The facility, consisting of two storage caverns totaling 16 billion cubic feet of working storage capacity, will be developed in phases. Commercial operation is expected toward the end of April 2008, with final completion of the project expected around December 2009.

Additional details about the transaction can be found here: www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/04-27-2007/0004575675&EDATE

The King & Spalding legal team on the transaction was led by partner Todd Holleman of the Atlanta office. Partners Dan Rogers and Ken Culotta, both of the firm’s Houston office, led the energy and contracting aspects of the transaction.

Other members of the King & Spalding legal team were the following:

Financing
Diane White (Counsel, Atlanta)
Vicki Papanikolaou (Associate, Atlanta)

Real Estate
Susan Foxworth (Counsel, Atlanta)

Tax
Michael Plowgian (Associate, Atlanta)

Environmental
Chet Tisdale (Partner, Atlanta)

About King & Spalding
King & Spalding is an international law firm with more than 800 lawyers in Atlanta, Dubai, Houston, London, New York, Riyadh (affiliated office) and Washington, D.C. The firm represents half of the Fortune 100, and in a Corporate Counsel survey in August 2006 was ranked one of the top ten firms representing Fortune 250 companies overall. For additional information, visit www.kslaw.com.


Practice Areas
Energy and Natural Resources Environmental Financial Services Private Finance Real Estate & Real Estate Capital Markets Tax

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