Simpson Thacher Represents Agent Banks in $21 Billion of Credit Facilities for Time Warner Inc. and Time Warner Cable Inc.
04.14.06
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Simpson Thacher recently represented a number of financial institutions in connection with $21 billion of credit facilities for Time Warner Inc. and Time Warner Cable Inc. The firm represented administrative agents Bank of America, N.A., Bank of Tokyo-Mitsubishi and Wachovia Bank in connection with a $6 billion revolving credit facility and two term loan facilities totaling $8 billion for Time Warner Cable. $10 billion of the proceeds from these facilities are available to finance Time Warner Cable's planned acquisition of Adelphia Communication Corp. The firm also represented Citibank, N.A., as administrative agent, in connection with Time Warner Inc.'s renewal of its $7 billion revolving credit facility.
The Simpson Thacher credit team consisted of Frank Huck, Jennifer Hobbs, Catherine Wang and Lisia Leon.