The Firm is representing Barclays Bank PLC in connection with $5.0 billion of committed bridge financing to Kinder Morgan, Inc. (NYSE: KMI) for its announced acquisition of (i) all of the outstanding units of Kinder Morgan Energy Partners, L.P. (NYSE: KMP), (ii) all of the outstanding shares of Kinder Morgan Management, LLC (NYSE: KMR) and (iii) all of the outstanding units of El Paso Pipeline Partners, L.P. (NYSE: EPB), in each case not already owned by KMI. The proceeds of the bridge facility will be available to finance a portion of the cash consideration for the acquisitions, to repay certain indebtedness of Kinder Morgan, Inc. and to pay fees and expenses related thereto.
The combined Kinder Morgan entities own an interest in or operate approximately 80,000 miles of pipelines and 180 terminals. Kinder Morgan’s pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. Kinder Morgan, Inc. owns the general partner interests of Kinder Morgan Energy Partners, L.P. and El Paso Pipeline Partners, L.P., along with certain limited partner interests in Kinder Morgan Energy Partners, L.P. and El Paso Pipeline Partners, L.P. and shares in Kinder Morgan Management, LLC.
The Simpson Thacher team for the financing includes Patrick Ryan, Justin Lungstrum, Dan Kay and Jennifer Albrecht (Banking and Credit); and Kenneth Wallach, Benjamin Wells and Gabriela Botifoll (Capital Markets).