Simpson Thacher represented RBC Capital Markets, LLC and the other initial purchasers in connection with a bond offering by NGPL PipeCo LLC (“NGPL”) of $700 million aggregate principal amount of 4.375% Senior Notes due 2022 and $700 million aggregate principal amount of 4.875% Senior Notes due 2027 pursuant to Rule 144A and Regulation S. NGPL intends to use the net proceeds from the offering to fund the repurchase or redemption of certain of its outstanding notes and repay borrowings under its revolving credit facility.
NGPL, through its subsidiaries, owns one of the largest interstate pipeline systems in the country with approximately 9,100 miles of pipeline, more than one million horsepower of compressor facilities and approximately 288 billion cubic feet of working gas storage. NGPL is jointly owned by Kinder Morgan, Inc. and Brookfield Infrastructure Partners L.P., and Kinder Morgan, Inc. operates NGPL’s pipeline system.
The Simpson Thacher team included, among others, Kenneth Wallach, Hui Lin, John O’Connell, Erica Lee, Taylor Steele and Sung Bum Cho (Capital Markets); Brian Mendick (Tax); Michael Isby (Environmental); Larry Moss and Monisha Bhayana (Executive Compensation and Employee Benefits); and Jennie Getsin (Blue Sky). Summer Associate Janet Kanzawa also provided valuable assistance.