Simpson Thacher Represents JPMorgan in Acquisition Financing in Connection with Exco Resources, Inc.’s $1 Billion of Acquisitions of Assets from Chesapeake Energy Corporation
07.09.13
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Simpson Thacher represented JPMorgan, as lead arranger, in connection with it arranging a financing commitment for a new senior secured revolving credit facility with an initial $1.6 billion borrowing base and a $400 million bridge loan tranche for Exco Resources, Inc. (“Exco”). Proceeds from the loans on closing will be used to refinance Exco’s existing senior secured bank credit facility and finance its acquisition of producing and undeveloped oil and gas assets in the Eagle Ford shale formation from subsidiaries of Chesapeake Energy Corporation.
Exco, a public company listed on the New York Stock Exchange (NYSE: XCO), is an oil and natural gas company engaged in exploration, exploitation, development and production.
The Simpson Thacher team included: William Sheehan, Matthew Einbinder, Edward Bontkowski and Shelly Lin (Banking and Credit).