Simpson Thacher Represents JPMorgan in $600 Million Credit Facility for Westinghouse Electric
10.20.06
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Simpson Thacher recently represented J.P. Morgan Securities Inc. as sole lead arranger in connection with a $600 million revolving credit facility for Westinghouse Electric Company LLC and Westinghouse Electric UK Limited. The credit facility is guaranteed on a senior unsecured basis by Toshiba Corporation.
The financing closed simultaneously with Toshiba’s acquisition of BNFL USA Group Inc. and Westinghouse UK Limited (collectively known as “Westinghouse Electric”) from British Nuclear Fuels plc. Westinghouse Electric is one of the world’s leading producers of atomic power-plant equipment.
The Simpson Thacher team included Jim Buresh, Christian Struck, Helen Kim, Bryan Gordon and paralegal Odette Rajwan.