Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with the debut senior notes offering by THOR Industries, Inc. (“THOR”) of $500 million aggregate principal amount of 4% Senior Notes due 2029, which closed on October 14, 2021. THOR used the net proceeds from the offering, together with cash on hand, to repay $500 million of borrowings under its asset-based revolving credit facility and pay related fees and expenses.
THOR is the largest manufacturer of recreational vehicles in the world. THOR manufactures a wide variety of RVs in the United States and Europe, and sells those vehicles, as well as related parts and accessories, primarily to independent, non-franchise dealers throughout the United States, Canada and Europe.
The Simpson Thacher team included Art Robinson, Dave Azarkh, Jessica Asrat and Alex Suh (Capital Markets); Daniel Kay, Whitney Bosworth and Zhongji Wu (Credit); Jonathan Cantor (Tax); Jeanne Annarumma and Meredith Brenton (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Abram Ellis and Christine Tillema (Regulatory); Genevieve Dorment and Bobbie Burrows (Intellectual Property); and Jennie Getsin (FINRA).