William D. Morris focuses on credit agreements, derivative transactions and prime brokerage and securities lending and repurchase transactions. He has extensive experience in the energy and investment fund industries and in cross-border transactions.
Practice & Background
Mr. Morris has represented borrowers, issuers, sponsors and financial institutions in debt and related transactions with commitments and issuances totaling in excess of $100 billion and over 50 families of funds in connection with debt, prime brokerage and derivatives matters and controversies related to such matters. He also represented the individual trustees for the $20 billion Deepwater Horizon Oil Spill Trust.
In addition to counseling both corporate and fund clients on risk management matters, he is a frequent speaker on derivatives and regulation of derivatives.
Mr. Morris has served as managing partner of Akin Gump’s Moscow office and a member of the firm’s management committee.
Mr. Morris’s recent credit experience includes:
- representing Laredo Petroleum, Inc. in connection with its $2 billion revolving credit agreement
- representing Memorial Production Partners LP in connection with its $2 billion revolving credit agreement
- representing Memorial Resource Development Corporation as borrower in a $2 billion senior secured revolving credit facility
- representing Sanchez Energy Corporation as borrower under $1.5 billion senior secured revolving credit facility
- representing WildHorse Resource Development Corporation in connection with its $1 billion revolving credit facility
- representing Northern Star Generation Services Company in connection with its $140 million term loan credit facility and $98 million letter of credit facility
- representing VCA Antech, Inc. in connection with its $880 million of senior secured term notes and $800 million senior secured revolving facility.
Mr. Morris’s recent derivatives and related experience includes:
- representing a family of related investment funds in connection with the purchase from multiple financial institutions of the floating rate exposure under $605 million notional of interest rate swaps with a common distressed counterparty
- representing a single purpose investment fund as protection seller under a notional principal contract covering $789 million of exposure to a portfolio of loans originated by a foreign bank and as issuer of €106 million of related floating rate credit enhancement notes
- representing an investment fund in connection with the purchase from multiple financial institutions of the credit enhanced exposure of such financial institutions as protection sellers in respect of $686 million notional of credit default swaps issued to related CDO issuers
- representing a publicly traded company in connection with its $350 million accelerated stock repurchase program.
Mr. Morris has also represented the protection sellers in connection with over $3 billion notional of other portfolio credit default swaps and led teams that have represented end users in connection with several hundred ISDA Master Agreements and dozens of securities repurchase agreements and securities lending agreements.
Mr. Morris is actively involved in civic activities. His community service has included:
- serving as an advisory member of the Gulf Coast Ike Relief Fund
- serving as a member of the board of directors and investments committee of the Houston Ballet
- serving as general counsel of the Houston Katrina Relief Fund.