Brandan Still

The Firm advised the underwriters, led by J.P. Morgan Securities LLC, with respect to the offering by Nine Energy Service, Inc. (“Nine”) of 300,000 units, or $300 million aggregate stated amount, with each unit consisting of (i) $1,000 principal amount of Nine’s 13.000% Senior Secured Notes due 2028 (the “Notes”) and (ii) five shares of Nine’s common stock. The Firm also represented JPMorgan Chase Bank, N.A., as arranger and administrative agent, in connection with the amendment and extension of Nine’s existing asset-based revolving credit facility (the “ABL”).~~The Notes are secured by first-priority liens on the Notes priority collateral, which includes most of Nine’s assets other than ABL priority collateral, which includes most of Nine’s accounts receivable, inventory, equipment and other current assets. The ABL is secured by first-priority liens on the ABL priority collateral and second-priority liens on the Notes priority collateral.~~Nine used the net proceeds of the offering, together with borrowings under its ABL and cash on hand, to redeem all of its outstanding 8.750% Senior Notes due 2023 and to pay fees and expenses associated with the refinancing transactions.~~Nine is an oilfield services company that offers completion solutions within North America and abroad. Nine brings years of experience with a deep commitment to serving clients with smarter, customized solutions and world-class resources that drive efficiencies. Serving the global oil and gas industry, Nine continues to differentiate itself through superior service quality, wellsite execution and cutting-edge technology. Nine is headquartered in Houston, Texas with operating facilities in the Permian, Eagle Ford, SCOOP/STACK, Niobrara, Barnett, Bakken, Marcellus, Utica and Canada.~~The Simpson Thacher team included David Azarkh, Brian Rosenzweig, Richie Ragusa, Braxton Pitts and Alexandra Speiss (Capital Markets); Brandan Still, Erland Modesto and Brandon Barton (Banking and Credit); Jon Pall (UCC); Jon Cantor and Ruoxi Zhang (Tax); Courtney Welshimer, Bobbie Burrows and Mark Natividad (Intellectual Property); Alan Fenyes (ECEB); Jennie Getsin (Blue Sky); and Tim Mulvihill (Environmental).

Feb 2

1 min

Simpson Thacher represented JPMorgan Chase Bank, N.A. (“JPM”), as administrative agent and lender under a pre-petition ABL facility in connection with the bankruptcy cases of Party City Holdco, Inc. and its affiliated debtors (“Party City”) and as administrative agent and lead arranger of Party City’s exit ABL facility (the “Exit Facility”). Party City’s chapter 11 restructuring went effective and the Exit Facility closed on October 12, 2023, after the Bankruptcy Court confirmed the Company’s plan of reorganization at the September 6, 2023 confirmation hearing.~~JPM led and arranged the $562 million Exit Facility comprised of a $545 million revolver tranche and $17 million FILO term tranche.~~Party City is a global leader in the celebrations industry, with its offerings being sold in more than 70 countries around the world. Party City is also the largest vertically integrated designer, manufacturer, distributor and retailer of party goods in North America.~~The Simpson Thacher team included Elisha Graff, Zach Weiner and Jonathan Mitnick (Restructuring); Brandan Still, Ron Havas and Gavin Jaco (Credit); Michael Mann (Tax); Tim Gallagher (Real Estate); Courtney Welshimer (IP); Michael Isby (Environmental); Abram Ellis and Ryan Stalnaker (Regulatory); Jon Pall (Collateral); and Bill Russell (Litigation).

Oct 13

1 min

Simpson Thacher recently represented the underwriters, led by J.P. Morgan Securities LLC, MUFG Securities Americas Inc., TD Securities (USA) LLC, and Wells Fargo Securities, LLC in connection with a registered public offering by EQT Corporation (“EQT”) of $750 million aggregate principal amount of 5.750% Senior Notes due 2034. EQT intends to use the net proceeds to repay a portion of the borrowings under EQT’s term loan credit agreement.~~Simpson Thacher also represented PNC Bank, National Association, as administrative agent in connection with the third amendment to EQT’s term loan credit agreement which, among other things, extended the maturity date of EQT’s term loan credit agreement.~~EQT is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin.~~The Simpson Thacher team included Jonathan Ozner, Jessica Ryan and Alex Michael (Capital Markets); Brandan Still (Banking and Credit); Michael Mann (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Michael Isby (Environmental); and Andrew Pagliughi (Blue Sky).

Jan 22

1 min

The Firm represented BBVA Securities Inc., Citibank, N.A., HSBC Bank USA, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., MUFG Bank, Ltd., Banco Santander (Brasil) S.A., Luxembourg Branch and The Bank of Nova Scotia, as joint lead arrangers and joint bookrunners (the “Lenders”), in connection with a sustainability-linked revolving credit facility in the amount of US$320 million in aggregate commitments made available to Nexa Resources S.A., Nexa Recursos Minerais S.A. and Nexa Resources Cajamarquilla S.A. (NYSE:NEXA) (“Nexa Resources”). The new facility replaced Nexa Resources’s US$300 million revolving credit facility that was set to mature in October 2024.~~The Firm also represented GLAS USA LLC, as administrative agent (the “Administrative Agent”), in connection with the same transaction.~~Nexa Resources is a large-scale, low-cost integrated zinc producer with over 65 years of experience developing and operating mining and smelting assets in Latin America. Nexa Resources currently owns and operates five long-life mines, three of which are located in the central Andes region of Peru, and two of which are located in the state of Minas Gerais in Brazil. Nexa Resources is currently ramping up operations at Aripuanã, its sixth mine, in the state of Mato Grosso in Brazil. Nexa Resources also owns and operates three smelters, two of which are located in the state of Minas Gerais in Brazil, and one of which is located in Cajamarquilla in Peru, which is the largest smelter in the Americas. Nexa Resources was among the top five producers of mined zinc globally in 2022 and one of the top five metallic zinc producers worldwide in 2022, according to the energy research and consultancy firm Wood Mackenzie. The Simpson Thacher team representing the Lenders included Grenfel S. Calheiros, Marcelo B. Lorenzen, Jomar A. Vargas and Larissa Gebrim (Banking and Credit); and Michael E. Mann (Tax). The Simpson Thacher team representing the Administrative Agent included Brandan L. Still and Tyler P. Wills (Banking and Credit); and Jonathan Cantor (Tax).

Oct 25

1 min

The Firm represented JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd and Wells Fargo Securities, LLC, as the lead arrangers and administrative agents in connection with four revolving credit facilities, totaling $4 billion in aggregate commitments, made available to CenterPoint Energy, Inc. and its subsidiaries (NYSE:CNP) (“CenterPoint”).~~As the only investor owned electric and gas utility based in Texas, CenterPoint is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. With approximately 8,900 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years.~~The Simpson Thacher team included Brandan Still, Andrew Lanius, Darby Tingle, Enzo Salamone and John Charles (Banking and Credit).

Dec 13

1 min