The Firm recently represented J.P. Morgan Securities LLC, the other lead arrangers and JPMorgan Chase Bank. N.A., as administrative agent, in connection with $1.488 billion of new revolving credit and term loan facilities and J.P. Morgan and the other initial purchasers in connection with the Rule 144A offering of $1.225 billion of senior notes raised to refinance existing debt of Mirant Corporation and RRI Energy, Inc. in connection with the merger of Mirant into a subsidiary of RRI.
The credit agreement was entered into on September 20, 2010 and the senior notes were issued into escrow on October 4, 2010. The proceeds of the senior notes were released from escrow, the term facility was funded and RRI was renamed GenOn Energy, Inc. when the merger closed on December 3, 2010.
GenOn provides energy, capacity, ancillary and other energy services to wholesale customers in the U.S. through the ownership and operation of, and contracting for, electric generating capacity across key regions, including the Mid-Atlantic, the Northeast, California, the Southeast and the Midwest.
The Simpson Thacher team for the bank financing included Alan Brenner, R. Justin Benford, Julia Kohen, Matthew Reichstein, Emily Ho and former summer associate Sung Bum Cho. The Simpson Thacher team for the debt offering included Risë Norman, Xavier Kowalski, Yueting Liang, Yu Wang, Jennifer Chen, Kuang-Wei Chueh and former summer associate Ken Myung Shin and Andrew Pagliughi (Blue Sky and FINRA). In addition, the Simpson Thacher teams for both the bank financing and debt offering included Sean Austin and Danny Salinas (Tax), Amy Beller and Jonathan Lin (Energy Regulatory), Adeeb Fadil and Noreen Lavan (Environmental), Meryl Rosen, Katherine Gardner and Mindy Lok (Intellectual Property), Mardi Merjian and Davis Coen (Real Estate), Scott Dyer, Julie Levy and Brandon Neal (Labor) and Douglas Tang (Executive Compensation and Employee Benefits). Paralegals John Oberbeck and Alexandra McNicholas also provided valuable assistance.