TPC Group Inc. Completes Senior Secured Notes Offering
10.24.14
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Simpson Thacher represented TPC Group Inc. (“TPC”) in connection with its Rule 144A and Regulation S offering of $50 million aggregate principal amount of additional 8.75% Senior Secured Notes due 2020. The deal closed on October 24, 2014. TPC used the net proceeds from this offering to pay down borrowings outstanding under its revolving credit facility.
TPC is a leading producer of value-added products derived from niche petrochemical raw materials such as C4 hydrocarbons. Its products are sold to producers of a wide range of performance, specialty and intermediate products, including synthetic rubber, fuels, lubricant additives, plastics and surfactants.
The Simpson Thacher team included Ed Tolley, David Azarkh and John Tracy (Capital Markets); Alden Millard and Daniel Kay (Credit); Jonathan Cantor and Joseph Tootle (Tax); Krista McManus (Real Estate); Aimee Adler (Benefits); and Tim Mulvihill (Environmental).