Paul W. Johnson III

Associate

Dallas + 1.214.969.4888

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Paul Johnson is a federal tax lawyer practicing primarily in the areas of corporate tax, U.S. and cross-border M&A, financings, securities offerings, and tax-exempt entities. He advises clients from a wide variety of industries on tax-related issues, including federal and international tax planning, compliance, withholding, and reporting.

Paul has extensive experience in providing tax advice on offerings of U.S. and foreign issuer stock, investment-grade, high yield, and convertible notes and complex financial instruments. Paul also works with clients to secure and maintain tax-exempt status for nonprofit organizations and advises on the federal tax implications for these organizations. In addition, he advises clients with respect to the energy tax credits, including those introduced by the Inflation Reduction Act.

Expérience

  • Xcel Energy completes $2.5 billion Convertible Senior Notes offeringJones Day represented Xcel Energy Inc. in connection with a Rule 144A offering of $2.5 billion aggregate principal amount of 2.625% Convertible Senior Notes due 2027.
  • Marathon Petroleum and MPLX sells Minnesota and North Dakota refineries and related midstream assets for $4.2 billionJones Day is advising Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) and certain of their affiliates in connection with the $4.2 billion sale of their St. Paul Park and Mandan Refineries to CVR Energy, Inc. (NYSE: CVI).
  • Xcel Energy establishes $6 billion at-the-market program, including forward componentsJones Day represented Xcel Energy Inc. (“Xcel Energy”) in connection with the establishment of an at-the-market equity program for the sale of up to $6 billion of its shares of Common Stock from time to time either through or to sales agents or through forward sellers who will, at Xcel Energy's request, borrow shares of Xcel Energy’s Common Stock from third parties and sell a number of shares of Common Stock equal to the number of shares underlying the forward sale agreement to hedge the forward sale agreement, under two separate forms of forward sale agreements.
  • Underwriters complete €1 billion Senior Notes offering by PepsiCoJones Day represented the underwriters in connection with the public offering by PepsiCo, Inc., a leading global beverage and convenient food company, of €1 billion of Senior Notes, consisting of €500 million of 3.750% Senior Notes due 2029 and €500 million of 4.250% Senior Notes due 2035.
  • Solmax refinances its existing $625 million credit facilityJones Day represented Solmax, a world-leading manufacturer of geosynthetic materials, in connection with the comprehensive refinancing of its existing credit facility, consisting of a $525 million secured term loan and $100 million secured revolver, as well as $125 million of new preferred equity.
  • Underwriters complete $185.9 million Floating Rate Notes offering by Exxon Mobil CorporationJones Day advised the underwriters in connection with Exxon Mobil Corporation's SEC-registered offering of $185.9 million principal amount of Floating Rate Notes due 2076.
  • Citigroup Global Markets completes cash tender offers for up to $2.1 billion of Senior Notes by Pioneer Natural Resources CompanyJones Day represented Citigroup Global Markets Inc., as dealer manager, in connection with offers by Pioneer Natural Resources Company ("Pioneer"), a wholly-owned subsidiary of ExxonMobil Holdings Corporation, to purchase for cash any and all of Pioneer's outstanding $1.1 billion 1.900% Senior Notes due 2030 and $1 billion 2.150% Senior Notes due 2031.
  • Parker-Hannifin completes registered offering of $2.4 billion of Senior NotesJones Day represented Parker-Hannifin Corporation, a leading worldwide diversified manufacturer of motion and control technologies and systems, in connection with its SEC-registered offering of $2.4 billion aggregate principal amount of Senior Notes, including $525 million of 4.750% Senior Notes due 2028, $500 million of 4.875% Senior Notes due 2029, $750 million of 5.125% Senior Notes due 2031, and $625 million of 5.300% Senior Notes due 2033.
  • Parker-Hannifin completes registered offering of €2.025 billion of Senior NotesJones Day represented Parker-Hannifin Corporation, a leading worldwide diversified manufacturer of motion and control technologies and systems, in connection with its SEC-registered offering of €2.025 billion aggregate principal amount of Senior Notes, including €700 million of 3.800% Senior Notes due 2030, €800 million of 4.040% Senior Notes due 2032, and €525 million of 4.375% Senior Notes due 2036, which are listed on Euronext Dublin.
  • Large financial institution provides $95 million syndicated senior secured credit facility to maritime, energy, and logistics solutions companyJones Day represented a large financial institution, as left lead arranger, administrative agent, and collateral agent, in connection with a $95 million syndicated senior secured credit facility provided to a maritime, energy, and logistics solutions company.
  • MPLX completes $2.25 billion public offering of Senior NotesJones Day represented MPLX LP in connection with an SEC-registered offering of $2.25 billion aggregate principal amount of Unsecured Senior Notes, including $1.25 billion of 4.700% Senior Notes due 2029, $500 million of 5.000% Senior Notes due 2032 and $500 million of 5.500% Senior Notes due 2036.
  • Gray Media completes $750 million private offering of Senior Secured First Lien NotesJones Day represented Gray Media, Inc., a multimedia company headquartered in Atlanta, Georgia that is the nation’s largest owner of top-rated local television stations and digital assets serving 117 full-powered television markets that collectively reach approximately 37% of U.S. television households, in connection with its private offering of $750 million aggregate principal amount of 7.500% Senior Secured First Lien Notes due 2034 (the “Notes”) under Rule 144A and Regulation S.
  • EDAP completes public offering of American Depositary SharesJones Day represented EDAP TMS, a global leader in robotic energy-based therapies, in connection with its public offering of 9,688,750 American Depositary Shares on the Nasdaq Global Market.
  • Leading financial services company provides $220 million incremental term loan facility and $55 million revolving credit facility upsize to independent pharmacy benefit management companyJones Day represented a leading financial services company, as left lead arranger and administrative agent, in connection with a $220 million incremental term loan facility and a $55 million upsize to its existing revolving credit facility provided to an independent pharmacy benefit management company.
  • Global bank provides $150 million senior secured revolving credit facility to provider of virtual healthcare servicesJones Day represented a global bank, as administrative agent, in connection with a new $150 million senior secured revolving credit facility to a provider of virtual healthcare services.
  • Citibank amends existing credit facility for global energy infrastructure companyJones Day represented Citibank, N.A., as administrative agent, in connection with a $625 million secured multicurrency letter of credit and revolving credit facility, compromising a new $125 million term loan and $100 million increase to the revolving commitments under the facility for a global energy infrastructure company.
  • Global bank provides $75 million senior secured credit facility to transportation service companyJones Day represented a global bank, as administrative agent, lead arranger, and bookrunner, in connection with a new $75 million senior secured credit facility, consisting of a $5 million revolving credit facility, a $40 million term loan facility, and a $30 million equipment line of credit, provided to a transportation service company
  • SER Capital Partners sells Perfect Power to FIC PartnersJones Day advised SER Capital Partners in the sale of Perfect Power LLC, a developer, owner, and operator of the Jaguar Energy Center, a grid-interconnected battery energy storage and solar platform with up to 1.15 GW of planned capacity across approximately 4,500 acres, to an affiliate of FIC Partners Management, LP, an investment firm with a focus on critical infrastructure assets across the energy and power use value chains.
  • OUTFRONT Media completes $500 million Senior Notes offeringJones Day advised OUTFRONT Media Inc., one of the largest providers of advertising space on out-of-home advertising structures and sites across the United States, in connection with the issuance by two of its wholly-owned subsidiaries of $500 million in aggregate principal amount of 6.000% Senior Notes due 2034 in a Rule 144A and Regulation S offering.
  • National Fuel Gas completes $1.5 billion Notes offeringJones Day represented National Fuel Gas Company in connection with its SEC-registered offering of $1.5 billion aggregate principal amount of Notes, including $500 million aggregate principal amount of 4.75% Notes due 2029, $500 million aggregate principal amount of 5.05% Notes due 2031, and $500 million aggregate principal amount of 5.50% Notes due 2036.
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    September 2026 Alert

    Proposed Nondiscrimination Rule for Private School Admissions, Financial Assistance, and Other Programs

    February 2026 Alert

    Initial Guidance Issued on the OBBBA Material Assistance Restrictions for Energy Tax Credits

    February 2026 Alert

    Proposed Regulations Issued on the Section 45Z Clean Fuel Production Credit

    August 2025 Alert

    New "Beginning of Construction" Guidelines Issued for Wind and Solar Tax Credits

    July 2025 Alert

    The One Big Beautiful Bill Becomes Law: Impact on Clean Energy Tax Credits

    May 2025 Alert

    The One, Big, Beautiful Bill: Impact on Clean Energy Tax Credits

    JANUARY 2025 Alert

    Draft Guidance on the Section 45Z Clean Fuel Production Credit

    JANUARY 2025 Alert

    Final Clean Electricity Production and Investment Tax Credit Regulations Provide Taxpayers With Welcomed Guidance

    DECEMBER 2024 Alert

    Final Regulations Expand Access to "Direct Pay" Elections for Energy Credits

    May 2024 Alert

    Proposed Treasury Regulations Provide Guidance on New Clean Electricity Production and Investment Tax Credits
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