Simpson Thacher represented the initial purchasers in connection with a 144A/Regulation S offering of $600 million aggregate principal amount of 4.3% Senior Secured Notes due 2032 by DT Midstream, Inc. (“DT Midstream”), a non-utility natural gas pipeline, storage and gathering business. The notes are guaranteed on a senior secured basis by certain of DT Midstream’s subsidiaries.
DT Midstream used the net proceeds from the notes offering to partially repay outstanding indebtedness under its term loan facility.
DT Midstream is an owner, operator, and developer of an integrated portfolio of natural gas midstream assets. DT Midstream provides multiple, integrated natural gas services to customers through its interstate pipelines, intrastate pipelines, storage systems, lateral pipelines and related treatment plants and compression and surface facilities, and gathering systems and related treatment plants and compression and surface facilities.
The Simpson Thacher team included Hui Lin, Julie Ledermann and Carlie Marks (Capital Markets); Alexandra Kaplan, Erland Modesto, Nicholas Baker, Zachary Banks and Sara Daniel (Credit); Jonathan Pall (UCC); Michael Mann and Lina Pan (Tax); Melanie Jolson (Intellectual Property); Timothy Gallagher (Real Estate); Pasco Struhs (Executive Compensation and Employee Benefits); Adeeb Fadil and Tim Mulvihill (Environmental); and Andrew Pagliughi (Blue Sky).