The Firm represented JPMorgan Chase Bank, N.A., as arranger and administrative agent, in connection with the refinancing of TechnipFMC plc’s (NYSE: FTI) existing senior secured multicurrency revolving credit facility (the “Credit Agreement”). The Credit Agreement increased the commitments available to the Company to $1,250,000,000 and extended the maturity date. Concurrently with the Credit Agreement, the Firm represented DNB Markets, Inc., as arranger, and DNB Bank ASA, New York Branch, as administrative agent, in connection with a new $500,000,000 five-year senior secured multicurrency performance letter of credit facility (the “PLOC”) for FTI.
FTI is a leading technology provider to the traditional and new energies industries, delivering fully integrated projects, products, and services. As a global leader in the traditional and renewable energy industry, FTI delivers innovative technologies, systems, and services to meet the world’s energy needs now and in the future.
The Simpson Thacher team included Erland Modesto, Brandon Barton, Jacob Sims, Christine Robb and Enzo Salamone (U.S. Banking and Credit); Antti Pesonen, Li Lin and Sungjoo Ahn (U.K. Banking and Credit); Jon Pall (UCC); Andrew Purcell and Jacqueline Clinton (U.S. Tax); Yash Rupal, Sarah Lindley, Chris Dorman and Darius Meehan (U.K. Tax); Courtney Welshimer (Intellectual Property); Pasco Struhs (ECEB); and Mike Isby (Environmental).