Simpson Thacher is representing the initial purchasers in connection with the offering of $1.85 billion aggregate principal amount of senior notes by Whistler Pipeline LLC (“Whistler”). Whistler intends to use the net proceeds from the notes offering to redeem or repay substantially all of its outstanding indebtedness, with any remaining amount to be used for general corporate purposes, including the funding of future growth capital.
Whistler owns the Whistler Pipeline (the “Pipeline”), which is an approximately 450-mile, 42-inch intrastate natural gas pipeline with approximately 2.5 billion cubic feet per day of capacity that transports natural gas from the Permian Basin to a terminus near Agua Dulce, Texas, providing direct access to South Texas markets and consumers. The Pipeline also has an approximately 85-mile, 36-inch diameter lateral to the Midland Basin. Whistler also owns a 50% membership interest in Waha Gas Storage, LLC, and an indirect 70% interest in the ADCC Pipeline, LLC, an approximately 40-mile, 42-inch intrastate pipeline that is designed to transport up to 1.7 Bcf/d, expandable to 2.5 Bcf/d of natural gas from the terminus of the Pipeline in Agua Dulce, Texas to Cheniere Corpus Christi Holdings, LLC’s Corpus Christi liquefaction facility. Whistler is a joint venture indirectly owned by WhiteWater Whistler Holdings, LLC, MPLX LP, and Enbridge, Inc.
The Simpson Thacher team included Brian Rosenzweig, Maggie Selbe, Suzannah Ranzo, Adam Danciu and Julie Ledermann (Capital Markets); Michael Mann and Michael Leitner (Tax); Toby Chun and Noreen Lavan (Environmental); Paige Brinton (Intellectual Property); Pasco Struhs (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA).