The Firm represented Barclays Capital, Credit Suisse, BMO Capital Markets, Morgan Stanley, CIBC, HSBC and RBC Capital Markets as initial purchasers in connection with the Rule 144A and Regulation S offering by MEG Energy Corp. (“MEG”) of $750 million aggregate principal amount of 6.50% Senior Notes due 2021. MEG intends to use the net proceeds from the offering for general corporate purposes. The Firm also represented the lenders in connection with MEG’s amended and restated credit facility with Bank of Montreal, as revolving administrative agent, and Barclays Bank PLC, as administrative agent and as collateral agent, in an aggregate amount of $1,500 million, comprising (i) a $1,000 million term loan facility and (ii) a $500 million senior secured revolving credit facility.
MEG is an oil sands company focused on in situ oil sands development and production in Alberta, Canada.
The Simpson Thacher team included Ken Wallach, Estella Chen, Emily Ho and A. Reid Monroe-Sheridan (Capital Markets); David Lieberman, Justin Lungstrum, Wendy Wu, Alek Janiszewski and Seth Niedermayer (Credit); Jon Cantor and Christian Miller (Tax); Mike Isby (Environmental), Parijat Sharma (IP), Jamin Koslowe (Executive Compensation and Employee Benefits) and Andrew Pagliughi (FINRA and Blue Sky). Paralegals Meredith Carp, John Oberbeck and Laura Maio also provided invaluable assistance.