Simpson Thacher Represents Initial Purchasers in US$500 Million Debt Offering for Pan American Energy LLC of Argentina
05.11.10
This is only gets display when printing
The Firm represented Credit Agricole Securities (USA) Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities Inc., as initial purchasers, in a US$500 million debt offering for Pan American Energy LLC. The Argentine Branch of Pan American Energy issued 7.875% Notes due 2021, Series No. 1, which were guaranteed by Pan American Energy. The offering was conducted in reliance upon Rule 144A and Regulation S outside Argentina and as a public offering in Argentina that was registered with the Comisión Nacional de Valores (Argentine Securities Commission).
Pan American Energy is a Delaware limited liability company with headquarters in Buenos Aires, Argentina and is controlled by BP plc and Bridas Corporation. Pan American Energy is engaged in the exploration, development and production of oil and gas, principally in Argentina. In 2009, Pan American Energy was the largest exporter of oil from Argentina and the second largest oil and gas producer in the country, based on volumes of oil and gas owned and produced in Argentina. The Argentine Branch is treated as a separate legal entity for Argentine tax and regulatory purposes.
The Simpson Thacher team for the transaction included, among others, Glenn M. Reiter, Juan Mendez, Kirsten Davis, Jorge Allende and Jim Cross (Capital Markets), as well as Jonathan Cantor and Chang Choi (Tax).