Simpson Thacher represented J.P. Morgan Securities LLC, as lead arranger, and JPMorgan Chase Bank, N.A., as administrative agent, in connection with a new five-year $550 million term loan facility for Philadelphia Energy Solutions Refining and Marketing LLC (“PESRM”).
PESRM is a leading manufacturer of petroleum and petrochemical products. PESRM owns and operates two domestic refineries, Girard Point and Point Breeze, the longest continuously operating refineries on the East Coast. PESRM is also the largest oil refiner on the Eastern seaboard, processing approximately 330,000 barrels of crude oil per day.
The Simpson Thacher team included: Alan Brenner, Brett Pearlman and Sarah Naseman (Banking and Credit), Andrew Purcell and Michael Cardella (Tax), Mardi Merjian (Real Estate), Paul Koppel and Linda Barrett (Executive Compensation and Employee Benefits), Adeeb Fadil (Environmental), Aditya Basrur (Intellectual Property) and Janet Nadile and Jonathan Pall (UCC).