Simpson Thacher Represents J.P. Morgan in Offering of $335 Million of Senior Secured Notes by Midwest Vanadium Pty Ltd
02.17.11
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The Firm represented J.P. Morgan Securities LLC. as sole initial purchaser in connection with the Rule 144A and Regulation S offering of $335 million aggregate principal amount of 11 ½% Senior Secured Notes due 2018 by Midwest Vanadium Pty Ltd (“MVPL”). MVPL is an indirect, wholly owned subsidiary of Atlantic LTD (ASX: ATI). The proceeds from the offering will be used to complete construction and commissioning of MVPL’s Windimurra open pit vanadium mine and related ore processing facilities in Western Australia, to acquire certain related assets, to retire all existing external debt of MVPL and to provide further working capital.
The Windimurra project contains one of the world’s largest known reserves of vanadium, which is an important component in the production of high strength steel and titanium alloys.
The Simpson Thacher team for this transaction included: Gary Sellers, Mark Brod, Brian Rosenzweig and Kate Yoon (Capital Markets), Mike Isby (Environmental), Danny Salinas (Tax) and corporate paralegal Allison Nichols.