Simpson Thacher Represents the Initial Purchasers in Connection with Motiva Enterprises LLC $2 Billion Senior Notes Offering
01.12.10
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The Firm represented the initial purchasers in connection with the Rule 144A and Reg S offering of $1 billion aggregate principal amount of 5.75% Senior Notes due 2020 and $1 billion aggregate principal amount of 6.85% Senior Notes due 2040 by Motiva Enterprises LLC. Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. acted as joint book-running managers for the offering. The offering closed on January 11, 2010.
Motiva Enterprises LLC is indirectly owned by Shell Oil Company and Saudi Arabian Oil Company. It is a leading refiner, distributor and marketer of petroleum products under the Shell brand in the eastern and Gulf Coast regions of the United States.
The Simpson Thacher team included Risë Norman, Xavier Kowalski, Ignacio De La Huerta and David S. Shapiro (Capital Markets); Jason Vollbracht (Tax); Tim Mulvihill and Michael Isby (Environmental); Jamin Koslowe and Eric Sarabia (Executive Compensation and Employee Benefits); Julie Levy (Labor) and Andrew Pagliughi (FINRA and Blue Sky). Paralegal Simon Kliegman also provided valuable assistance.