Simpson Thacher represented the joint lead arranger and joint bookrunner in the exit facilities provided to Weatherford consisting of a $195 million letter of credit facility and a $450 million ABL credit facility in connection with Weatherford’s emergence from Chapter 11 proceedings. In addition, Simpson Thacher separately represented the administrative agent and collateral agent.
Weatherford is one of the largest multinational oilfield service companies, with facilities across 90 countries. The firm operates a worldwide network of infrastructure, research and development facilities and manufacturing centers, offering a diverse technological portfolio and a high-caliber workforce to the global markets.
The Simpson Thacher team included Soogy Lee, Daniel Biller, Alejandro Sueldo, Dennis Durkin, Dean Masuda, Chase Bentley, Daniela Chediak and Christine Dai (Banking & Credit); Sandy Qusba and Nick Baker (Bankruptcy & Restructuring); Ashlie Lawton (ECEB); Adeeb Fadil (Environmental); Jennifer Neilsson (ERISA); Lori Lesser (IP); Dennis Loiacono (Real Estate); Brian Mendick (Tax); and Jon Pall (UCC).