Simpson Thacher Represents Initial Purchasers in USD and Euro Notes Offering by Stena International
02.06.20
This is only gets display when printing
The Firm represented the initial purchasers, led by J.P. Morgan Securities, in a Rule 144A/Regulation S dual-tranche offering by Stena International S.A. (the “Issuer”) of $350 million in aggregate principal amount of 6.125% Senior Secured Notes due 2025 and €315 million in aggregate principal amount of 3.75% Senior Secured Notes due 2025 (collectively, the “Notes”). The Notes are fully and unconditionally guaranteed by the Issuer’s parent company, Stena AB (publ.) (“Stena”) and by certain of Stena’s subsidiaries (the “Subsidiary Guarantors”) and are secured by liens on the collateral vessels and certain other assets of the Subsidiary Guarantors. The offering closed on January 31, 2020.
The net proceeds from the offering of the Notes will be used to refinance certain outstanding indebtedness of Stena and the Issuer.
Stena is one of the largest privately owned companies in Sweden. Stena operates a diverse conglomerate comprising five lines of business: ferry operations, offshore drilling, shipping, property and investments in selected private and listed companies.
The Simpson Thacher team for the transaction included Lesley Peng and Stephanie Rowan (Capital Markets); Jessica Tuchinsky and Robert Meyer (Banking and Credit); Zachary Fialkow (Tax); Jennifer Neilsson (ECEB); Adeeb Fadil and Noreen Lavan (Environmental); Jonathan Pall and Janet Nadile (Collateral); and Andrew Pagliughi (Blue Sky).