Simpson Thacher recently represented Walter Energy, Inc. in its offering of $500 million aggregate principal amount of 9.875% Senior Notes due 2020. Walter Energy intends to use the net proceeds of the offering to repay indebtedness outstanding under its credit facilities, to pay fees and expenses related to the offering and for general corporate purposes. The offering was conducted in reliance on Rule 144A and Regulation S.
Walter Energy is a leading, publicly traded “pure-play” metallurgical coal producer for global industry with strategic access to high-growth steel markets in Asia, South America and Europe. The Company also produces thermal coal, anthracite, metallurgical coke and coal bed methane gas. Walter Energy employs approximately 4,400 employees and contractors with operations in the United States, Canada and the United Kingdom.
The Simpson Thacher team for the transaction included Risë Norman, Dora Jimenez and Siobhan Lam (Capital Markets), Adam Wells (Tax), Michael Isby (Environmental), Aimee Adler and Jeanine McSweeney (Executive Compensation and Employee Benefits), Steven DeLott (Insurance), Jodie Sopher Pimentel (Intellectual Property) and Ellen Smiley (Public Company Advisory Practice).