Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with the offering by Sotera Health Holdings, LLC, a direct subsidiary of Sotera Health Company (“Sotera Health”), of $750 million aggregate principal amount of 7.375% Senior Secured Notes due 2031 pursuant to Rule 144A (the “Notes”), as part of a $2.25 billion debt refinancing that also included the establishment of a $1.5 billion new Term Loan B facility (the “New Credit Facility”).
Sotera Health used the net proceeds from the issuance of the Notes, together with net proceeds from the New Credit Facility and cash on hand, to refinance its existing Term Loan B facilities.
Sotera Health is a leading global provider of mission-critical end-to-end sterilization solutions, lab testing and advisory services for the healthcare industry. Sotera Health is committed to its mission, Safeguarding Global Health®.
The Simpson Thacher team for this transaction included John O’Connell, Kirsten Harmon, Neil Patel and Khalia Williams (Capital Markets); Vanessa Burrows and Jacob Madden (Healthcare); Mike Isby (Environmental); Andrew Blau and Pasco Struhs (Executive Compensation and Employee Benefits); Jonathan Cantor and Sean Largey (Tax); Andrew Pagliughi (FINRA & Blue Sky); and Paige Brinton (IP).