Simpson Thacher represented J.P. Morgan Securities LLC and the other initial purchasers in connection with an offering by subsidiaries of Venator Materials PLC (“Venator”) of $225 million aggregate principal amount of 9.5% Senior Secured Notes due 2025 pursuant to Rule 144A and Regulation S. The offering closed on May 22, 2020.
Venator intends to use the net proceeds from the offering to repay borrowings under its ABL Credit Facility and for general corporate purposes, including enhancing its liquidity position.
Venator is a leading global manufacturer and marketer of chemical products that improve the quality of life for downstream consumers and promote a sustainable future. Venator’s products comprise a broad range of innovative chemicals and formulations that bring color and vibrancy to a variety of applications, protect and extend product life, and reduce energy consumption.
The Simpson Thacher team included Art Robinson, David Azarkh, John C. Ericson, Lisa Zhang and Brian Mathes (Capital Markets); Jon Pall and Michael Ratay (Collateral); Jonathan Cantor (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Lori Lesser and Melanie Jolson (Intellectual Property); Timothy Gallagher and Dennis Loiacono (Real Estate); Michael Isby (Environmental); and Jennie Getsin (Blue Sky).