Viridian Completes €600 Million (Equivalent) Senior Secured Notes Offering
09.27.17
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Simpson Thacher represented Viridian Group FinanceCo PLC and Viridian Power and Energy Holdings DAC (together, the “Issuers”), wholly owned subsidiaries of Viridian Group Investments Limited (“Viridian”), an I Squared portfolio company and a leading vertically integrated utility active in the Irish energy markets, in connection with a Rule 144A and Regulation S offering of £225 million aggregate principal amount of 4.75% Senior Secured Notes due 2024 and €350 million aggregate principal amount of 4% Senior Secured Notes due 2025. The transaction closed on September 25, 2017. Viridian used the net proceeds from this offering together with amounts received in relation to the settlement of certain forward foreign exchange contracts and cash on hand to (i) redeem in full the remaining €540 million aggregate principal amount of 7.5% Senior Secured Notes due 2020 issued by Viridian Group FundCo II Limited, the indirect parent of the Issuers, (ii) pay a dividend in the amount of £60 million and (iii) pay costs, expenses and fees in connection with the foregoing.
The Simpson Thacher team included Nick Shaw, Carol Daniel, Noam Katz, Pelin Demirdere Eski, John Lim and Tuca Bihari (Capital Markets); Jennifer Passagne, Katie Geraghty, Jason Lim and Deborah El-Schaeddhaei (Credit); and Meredith Jones and William Smolinski (Tax).