News & Events

The Firm recently represented J.P. Morgan, Deutsche Bank, Caixa – Banco de Investimento (“Caixa”) and Banco Espírito Santo Investment Bank (“BESI”), in connection with a 144A and Regulation S offering by Empark Financing S.A. of €235 million of 6.75% senior secured notes due 2019 and €150 million of senior secured floating rate notes due 2019. Additionally, the Firm represented J.P. Morgan, Deutsche Bank, Caixa and BESI, as arrangers, in connection with a €30 million super senior revolving credit facility entered into by Empark S.A. The proceeds of the offering together with borrowings under the new revolving credit facility, were used by Empark primarily to refinance outstanding indebtedness.

Empark is the largest concessionaire and operator of parking infrastructure in the Iberian Peninsula, as measured by number of parking spaces and revenues. As of September 30, 2013, Empark’s portfolio comprised over 310 concessions with more than 160 municipalities and other customers, under which Empark manages over 355,000 parking spaces in Spain and Portugal.

The Simpson Thacher team included Mark Brod, Carol Daniel, Adam Wollstein and Manuela Gonzalez-Arias (Capital Markets); Euan Gorrie, Manas Chandrashekar and Jennifer Passagne (Credit); and Sean Fitzgerald (Tax).