Simpson Thacher Represents Initial Purchasers in North American Energy Alliance's $205 Million Senior Secured Second Lien Notes Offering
10.09.09
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The Firm represented joint book-running managers, Barclays Capital Inc. and Banc of America Securities LLC, in connection with the issuance by North American Energy Alliance, LLC ("NAEA") and North American Energy Alliance Finance Corp. of $205 million aggregate principal amount of 10.875% Senior Secured Second Lien Notes due 2016. NAEA used the proceeds of the offering to repay borrowings under its senior unsecured term loan that was initially incurred to finance NAEA's acquisition by Industry Funds Management and its associated entities.
NAEA is a wholesale power generation and marketing company, engaged in the ownership and operation of a portfolio of power generation projects located in the Northeastern United States.
The Simpson Thacher team for the offering included Kenneth Wallach, Ellen Smiley and Till Lefranc (Securities); Kenneth Wyman, Amy Beller and Brett Pearlman (Credit); Jonathan Cantor (Tax); Jamin Koslowe and Eric Sarabia (Executive Compensation and Employee Benefits); Mardi Merjian and Julia Miller (Real Estate); Michael Isby and Timothy Mulvihill (Environmental); Andrew Pagliughi (Blue Sky); and Tiffany Vacca (UCC). Paralegal Alexandra Greene also provided valuable assistance.