Simpson Thacher represented FR BR Holdings, L.L.C. (“FR BR”), a subsidiary of First Reserve and a 50% JV partner in Blue Racer Midstream, in connection with a comprehensive recapitalization transaction that strengthened and deleveraged FR BR’s balance sheet. The recapitalization transactions included the refinancing of FR BR’s credit facility with a new direct lending facility and an equity infusion from First Reserve and its co-investors.
The Simpson Thacher team included Elisha Graff, Sunny Singh, Phil DiDonato and Zach Weiner (Restructuring); Erland Modesto, Mark Haddox, Caroline Toohey and Matt Warren (Credit) Chris May, Shamus Crosby, Ana Sanchez and Andrew Kingsbury (M&A); Michael Mann and Tova Pfeffer (Tax); Tim Gallagher (Real Estate); Michael Isby (Environmental); Christine Tillema (Sanctions); George Gerstein and Jeanne Annarumma (ERISA); and Larry Moss (Benefits).