Lucy Jenkins

Simpson Thacher represented Takko Luxembourg 2 S.C.A. in connection with its offering of €285 million aggregate principal amount of 5.375% Senior Secured Notes due 2023 and €225 million aggregate principal amount of Senior Secured Floating Rate Notes due 2023. The proceeds of the offering were used to refinance outstanding indebtedness.~~Takko, a portfolio company owned by funds associated with Apax, is a leading European apparel retail group focused on the discount segment with more than 1,850 stores across 16 European countries.~~The Simpson Thacher team included Nick Shaw, Sven Frode Frølund, Anna Pollak, Jakob Egle and Victoria Hartman (Capital Markets); Lucy Jenkins and Katie Geraghty (Credit); and Meredith Jones and Joseph Tootle (Tax).~~

Oct 11

1 min

Latham & Watkins has advised SUSE in connection with the loan financing which will be used to partly finance an interim dividend in connection with EQT Private Equity’s voluntary public purchase offer and intention to delist SUSE. SUSE’s majority shareholder and a holding company of EQT, Marcel LUX III SARL (Marcel), intends to take the company private by delisting it from the Frankfurt Stock Exchange via a merger into an unlisted Luxembourg entity in the legal form of an Société Anonyme (S.A). The purchase offer will be financed by EQT Private Equity through funds it receives from an interim dividend to be paid by SUSE to all shareholders shortly after the expiry of the acceptance period and is conditional upon Marcel receiving this interim dividend. The Latham team was led by London finance partners Dominic Newcomb and Joseph Kimberling with corporate partner Jennifer Engelhardt, and associates Corrie Eames, Lucy Jenkins, and Zahra Haji.~~

Aug 29

1 min

Simpson Thacher is representing funds advised by Apax Partners in connection with the sale of Azelis to the EQT VIII fund and the Public Sector Pension Investment Board. The transaction is subject to customary closing conditions, including receipt of regulatory approvals, and is expected to close in the fourth quarter of 2018. The financial terms of the transaction were not announced.~~The Firm previously represented Apax on the acquisition of Azelis, including related European debt financing, and Azelis in connection with the significant add-on acquisition of Koda, including a refinancing of its debt with U.S. debt financing. Both transactions occurred in 2015.~~Azelis is a global distributor of specialty chemicals and food ingredients with a global presence in more than 40 countries. Azelis provides a diverse range of products and innovative services to more than 43,000 customers and 2,000 principals. The Simpson Thacher team includes Derek Baird, Ben Squires and Marie-Eve Nault-Cloutier (M&A); Lucy Jenkins (Banking and Credit); and William Kearney (Antitrust).

Sep 7

1 min

Simpson Thacher represented Aston Martin in connection with an offering of £55 million in additional aggregate principal amount of its existing 5.75% Senior Secured Notes due 2022. The transaction closed on December 13, 2017. The net proceeds of the offering will be used to finance the acquisition of AM Brands Limited, which owns the rights to the non-automotive use of the Aston Martin brands.~~The Simpson Thacher team included Gil J. Strauss and Uma Sud (Capital Markets); Patrick Scott (Corporate); and Lucy Jenkins (Credit).

Dec 13

1 min

Simpson Thacher represented JPMorgan Chase Bank, N.A., as the administrative agent for the first lien revolving lenders in the Chapter 11 bankruptcy cases of Paragon Offshore plc and various subsidiaries.~~The confirmed Fifth Joint Chapter 11 Plan (“Plan”) became effective on July 18, 2017. The Plan, which was supported by substantially all of the secured revolving and term lenders and unsecured noteholders, provided for the (i) elimination of approximately $2.3 billion of debt; (ii) elimination of $58 million in annual cash interest expense; and (iii) framework to right-size the ongoing business with a focus on core operating areas in the North Sea, Middle East and India. The revolving lenders and term lenders received pro rata shares of $410 million in cash, 50% of new equity interests in Paragon Offshore Ltd., the successor company to Paragon Offshore plc (“New Paragon”), 50% of Class A Litigation Trust Interests and 25% of Class B Litigation Trust Interests.~~New Paragon is a leading provider of standard specification offshore drilling services. New Paragon’s current fleet includes 32 jackups, including two high specification heavy-duty/harsh environment jackups, four drillships, and one semisubmersible. New Paragon’s primary business is contracting its rigs, related equipment and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a day-rate basis around the world.~~The Simpson Thacher team included Sandy Qusba, Elisha Graff, Kathrine McLendon, Soogy Lee, Nick Baker, Edward Linden, Megan Tweed, Ariana Evarts, Alexander Cushman, M. Shin, Leah Barnes and Jon Endean (Restructuring and Bankruptcy); Robert Rabalais, Janet Nadile, Richard Sitton, Brandan Still, Peter Raish, Roald Nashi, Nakita Cuttino, Zachary Banks, Angela Wu and Nadine Thornton (Banking and Credit); Jeongseok Jay Yu (M&A); Lucy Jenkins, James Connor and Jason Lim (UK corporate); David Azarkh (Capital Markets); and Michael Badain (Tax). Summer Associates Devin Ralston, Benjamin Bertan and Edward Grais also provided valuable assistance.

Jul 19

1 min