The Firm recently advised CIBC, Scotiabank, J.P. Morgan and Wells Fargo in connection with a $1.6 billion committed bridge facility for Algonquin Power & Utilities Corp. to finance its proposed acquisition of The Empire District Electric Company.
Algonquin Power & Utilities Corp. is a $4.8 billion North American diversified generation, transmission and distribution utility with assets across North America that acquires and operates green and clean energy assets including hydroelectric, wind, thermal, and solar power facilities, as well as sustainable utility distribution businesses (water, electricity and natural gas).
The Empire District Electric Company is an investor-owned, regulated utility providing electricity, natural gas (through its wholly owned subsidiary The Empire District Gas Company), and water service, with approximately 218,000 customers in Missouri, Kansas, Oklahoma and Arkansas. A subsidiary of Empire also provides fiber optic services.
The Simpson Thacher team for the transaction included Alexandra Kaplan, Adam Weiner and Yorda Yenenh (Credit); Lesley Peng and Jeff Levine (Capital Markets); Edward Chung (M&A); George Davis (Tax); Brian Chisling and Amy Beller (Regulatory); Noreen Lavan (Environmental); David Rubinsky and Patricia Adams (ECEB); and Monica Chan (IP).