Simpson Thacher represented BlackRock in connection with the establishment of an $11.5 billion Global Medium Term Note Programme (the “Programme”) by GreenSaif Pipelines Bidco S.à r.l. (“GreenSaif”). GreenSaif issued $1.5 billion aggregate principal amount of its 6.129% senior notes due 2038 and $1.5 billion aggregate principal amount of its 6.51% senior notes due 2042 under the Programme, including pursuant to a Formosa tranche. In addition, Simpson Thacher represented TMS Issuer S.à r.l. in its offering of $1.5 billion aggregate principal amount of Sukuk trust certificates due 2032. All three offerings were Rule 144A/Regulation S distributions.
The notes and the certificates have been used to repay existing debt relating to GreenSaif’s $15.5 billion acquisition of a minority interest in Aramco Gas Pipelines Company (a subsidiary of Saudi Arabian Oil Company), and to pay fees, costs and expenses incurred in connection with the transactions.
The Simpson Thacher team included Nicholas J. Shaw, Gil J. Strauss, Srishti Gupta, Iakovos Anagnostopoulos, Surya Bala, Charles English and Kobi Barkan (Capital Markets); Kavita Davis and Li Lin (Credit); Meredith B. Jones, Michael E. Mann, Daisy Dai and Paul S. Boswell (U.S. Tax); Yash Rupal, Sarah Lindley, Caleb McConnell, Chris Dorman and Alex Ladyman (UK Tax); Jonathan Lindabury, Nathan B. Utterback and Danielle Robinson (Derivatives); and Brian D. Robbins and Jeanne M. Annarumma (ERISA).