Simpson Thacher Represented Crestwood Midstream Partners LP and Crestwood Midstream Finance Corporation in Refinancing
11.14.12
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Simpson Thacher represented Crestwood Midstream Partners LP (“Crestwood”) and Crestwood Midstream Finance Corporation as co-issuers in connection a Rule 144A/Regulation S offering of $150 million aggregate principal amount of additional 7.75% Senior Notes due 2019, guaranteed by each of Crestwood’s existing and future domestic subsidiaries that guarantee any indebtedness for borrowed money. The deal closed on November 14, 2012. Crestwood used the net proceeds from the offering to pay down borrowings under its revolving credit facility.
Crestwood, headquartered in Houston, Texas, is an energy company formed to pursue the acquisition and development of North American midstream assets and businesses. First Reserve Management, LP, a leading private equity firm specializing in the energy industry, making both private equity and infrastructure investments throughout the energy value chain, owns a significant equity position in Crestwood.
The Simpson Thacher team included Ed Tolley, David Azarkh and Allison Wilson (Capital Markets); Alden Millard and Hayley Urkevich (Credit); Jonathan Cantor (Tax); Timothy Mulvihill and Noreen Lavan (Environmental); and Aimee Adler (Executive Compensation & Employee Benefits).