Simpson Thacher represented Morgan Stanley & Co. LLC and BofA Securities, Inc., as representatives of the underwriters, in connection with the registered public offering of 14,950,000 shares of common stock of GE HealthCare Technologies Inc. (“GEHC”) held by General Electric Company (“GE”). Pursuant to a debt-for-equity exchange agreement entered into in connection with this offering, Morgan Stanley & Co. LLC received the common stock, offered by it, from GE in partial satisfaction of GE’s obligations arising out of GE’s $1.3 billion term loan credit facility, with Morgan Stanley Senior Funding, Inc. and Morgan Stanley Bank, N.A., as the lenders, and Morgan Stanley Senior Funding, Inc., as administrative agent (the “Term Loan Credit Facility”).
Simpson Thacher also represented Morgan Stanley Bank, N.A. and Morgan Stanley Senior Funding, Inc. in connection with the Term Loan Credit Facility.
To date, the Firm has represented the underwriters and selling securityholders in connection with approximately $7.5 billion of debt and equity financings by GEHC, and related debt-for-debt and debt-for-equity exchanges, since 2022.
GEHC is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier.
GE is a high-tech industrial company that today operates worldwide through its three segments, Aerospace, Renewable Energy, and Power.
The Simpson Thacher team for the transaction included Roxane Reardon, David Azarkh, Evan Zuckerman, Jessica Ryan and Ha Jin Park (Capital Markets); Patrick Ryan, Stephanie Rotter, Kyle Nelson and Constantine Valettas (Banking); Vanessa Burrows and Nawa Lodin (Healthcare); Andrew Purcell and Paul Jansch (Tax); Andrew O’Brien (Executive Compensation and Employee Benefits); Kate Mirino (IP); and Jennie Getsin (FINRA and Blue Sky).