Simpson Thacher represented J.P. Morgan Securities LLC and nabSecurities, LLC, as initial purchasers, in connection with an offering by T.F.S. Corporation Ltd (“TFS”) of $250 million in aggregate principal amount of 8.75% Senior Secured Notes due 2023. TFS intends to use the net proceeds from the offering to redeem its outstanding 11% Senior Secured Notes due 2018 and for general corporate purposes, including potential land acquisitions suitable for the cultivation of Indian Sandalwood.
TFS is one of largest owners, managers and growers of Indian Sandalwood plantations, and one of the largest processors of Indian Sandalwood and producers of Indian Sandalwood oil, in the world.
The Simpson Thacher team for this transaction included, among others, Arthur Robinson, Daniel Fertig, Patrick Baron, Tadashi Okamoto, Kalliope Kefallinos, Calvin Kung, Charles Warthen and Derrick Sutter (Capital Markets); Soogy Lee (Credit); Janet Nadile (Collateral); Marcela Robledo (Intellectual Property); Jonathan Cantor and Michael Badain (Tax); Michael Isby and Louise Kruger (Environmental); Jennifer Pepin (ECEB); and Jennie Getsin (Blue Sky). Summer Associate Kevin O’Connell provided valuable assistance.