The Firm recently represented JPMorgan Chase Bank, N.A., Citigroup Global Markets Inc., Bank of America, N.A., Barclays Bank PLC, HSBC Securities (USA) Inc. and Goldman Sachs Bank USA as arrangers and bookrunners in connection with a new $300 million senior secured asset-based credit facility for Venator Materials PLC (“Venator”). The Firm also represented JPMorgan Chase Bank, N.A., Citigroup Global Markets Inc., Bank of America, N.A., Barclays Bank PLC, HSBC Securities (USA) Inc., Goldman Sachs Bank USA, PNC Bank, National Association, Royal Bank of Canada and Suntrust Bank as arrangers and bookrunners in connection with a new $375 million senior secured term loan credit facility for Venator. The asset-based credit facility and term loan credit facility were obtained in connection with Venator’s initial public offering.
Venator is a global manufacturer and marketer of chemical products that comprise a broad range of pigments and additives that bring color and vibrancy to buildings, protect and extend product life, and reduce energy consumption. Venator operates 27 facilities, employs approximately 4,500 associates worldwide and sells products in more than 110 countries.
The Simpson Thacher team for the transaction included William Sheehan, Makiko Harunari, Matthew Farrell, Scott Rudin and Michael Panzer (Banking and Credit); John Torrenti (Tax); Dennis Loiacono (Real Estate); Mike Isby and Louise Kruger (Environmental); Linda Nyberg (IP); Alisa Tschorke (Executive Compensation and Employee Benefits); Abram Ellis (Regulatory); and Jonathan Pall (Collateral).