Simpson Thacher recently represented the initial purchasers, led by J.P. Morgan Securities Inc., in the issuance of $175 million of 10 5/8% Senior Notes due 2019 by Plastipak Holdings, Inc. The notes are guaranteed on a senior basis by the existing and future material domestic subsidiaries of the issuer. Plastipak will use the net proceeds of the offering to repay borrowings under its credit agreement.
Plastipak is a leading global manufacturer of plastic packaging containers and preforms for some of the world's largest consumer product companies. Markets that are served by Plastipak include beverage, consumer cleaning, food & processed drinks and industrial & automobile, among others.
The Simpson Thacher team included Steve Feder, Chris Frigon, Simone Bono, Estella Chen and Yaneris Rosa (Capital Markets); Jonathan Cantor and Rian Balfour (Tax); Marcela Robledo (IP); Timothy Mulvihill (Environmental); and Andrew Pagliughi (Blue Sky).