Simpson Thacher Represents Initial Purchasers in Sale of $400 Million Debut Senior Notes Offering by Minerals Technologies Inc.
06.30.20
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Simpson Thacher represented the initial purchasers, led by bookrunning manager J.P. Morgan Securities LLC in the sale of an aggregate principal amount of $400 million 5% Senior Notes due 2028 by Minerals Technologies Inc. (“MTI”).
The notes are guaranteed on an unsecured senior basis by each of MTI’s existing and future wholly owned domestic restricted subsidiaries that is a borrower under or that guarantees its obligations under its senior secured credit facilities or that guarantee certain other indebtedness. MTI intends to use the net proceeds from the offering to (i) repay all of its outstanding fixed rate term loans, (ii) to repay all of its outstanding borrowings under its revolving credit facility and (iii) the remainder for general corporate purposes.
MTI is a resource- and technology-based company that develops, produces, and markets on a worldwide basis a broad range of specialty mineral, mineral-based and synthetic mineral products and supporting systems and services.
The Simpson Thacher team for the transaction included, among others, Arthur Robinson, David Azarkh, Eva Kang and Pinto Adhola (Capital Markets); Jonathan Cantor (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Genevieve Dorment and Bobbie Burrows (Intellectual Property); and Andrew Pagliughi (Blue Sky).