Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC and RBC Capital Markets, LLC, in connection with a Rule 144A/Regulation S offering by Empire Communities Corp. (“Empire”) of US$475 million aggregate principal amount of 9.75% Senior Notes due 2029 (“2029 Notes”), which were issued on April 29, 2024.
Simpson Thacher also represented J.P. Morgan Securities LLC, as dealer manager, in connection with a concurrent any-and-all cash tender offer for Empire’s outstanding 7.00% senior notes due 2025 (the “Tender Offer”). Net proceeds of the 2029 Notes offering were used to pay a portion of the cash consideration for the Tender Offer.
Empire is one of North America’s largest private homebuilders, with over 30 years of experience and operating history.
The Simpson Thacher team included Marisa Stavenas, John O’Connell, Patrick Baron, Jieun Lim, Ziang Zhou, David Turitzin, Jack Ligon and Khalia Williams (Capital Markets); Michael Mann (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Noreen Lavan (Environmental); Timothy Gallagher (Real Estate); Kate Mirino and Chandler Gerard-Reimer (Intellectual Property); and Jennie Getsin (Blue Sky).