The Firm advised the initial purchasers, led by J.P. Morgan, with respect to TechnipFMC’s $1 billion debut high yield notes offering in connection with the announced spinoff of 50.1% of the outstanding shares of Technip Energies. The spinoff transaction will create two industry-leading, independent, publicly traded companies: TechnipFMC, a fully integrated technology and services provider, and Technip Energies, a leading engineering and technology player.
With approximately 21,000 employees, TechnipFMC would be the largest diversified pure play in the industry. TechnipFMC’s role will be to support clients in the delivery of unique, integrated production solutions. TechnipFMC will continue to transform the industry through its pioneering integrated delivery model—iEPCI™, technology leadership and digital innovation. TechnipFMC will remain incorporated in the United Kingdom with headquarters in Houston and listings on both the NYSE and Euronext Paris.
The Simpson Thacher team included Brian Rosenzweig, Art Robinson, Matt Hart, Ben Heriaud, Karen McClendon and Maggie Selbe (Capital Markets); Drew Purcell, Jaqueline Clinton and Zachary Fialkow (U.S. Tax); Yash Rupal and Ellie Verran (U.K. Tax); Mike Isby (Environmental); Jennie Neilsson (ECEB); Jennie Getsin (Blue Sky); and Genevieve Dorment (IP).