Simpson Thacher represented J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC, as representatives of the underwriters, in connection with the registered public offering of 13,281,302 shares of common stock of GE HealthCare Technologies Inc. (“GEHC”) held by GE Aerospace (General Electric Company) (“GE”). Pursuant to a debt-for-equity exchange agreement entered into in connection with this offering, Morgan Stanley & Co. LLC received the common stock, offered by it, from GE in partial satisfaction of GE’s obligations arising out of GE’s $1.25 billion term loan credit facility, with Morgan Stanley Bank, N.A., as the lender, and Morgan Stanley Senior Funding, Inc., as administrative agent (the “Term Loan Credit Facility”).
Simpson Thacher also represented Morgan Stanley Bank, N.A. and Morgan Stanley Senior Funding, Inc. in connection with the Term Loan Credit Facility.
To date, the Firm has represented the underwriters and selling securityholders in connection with approximately $13 billion of debt and equity financings by GEHC, and related debt-for-debt and debt-for-equity exchanges, since 2022.
GEHC is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier.
General Electric Company operates as GE Aerospace. GE Aerospace is a global aerospace leader with the industry's largest and growing commercial propulsion fleet.
The Simpson Thacher team for the transaction included Roxane Reardon, David Azarkh, Evan Zuckerman, John Strubing and Deniz Demirci (Capital Markets); Patrick Ryan and Kyle Nelson (Banking); Vanessa Burrows and Jacob Madden (Healthcare); Andrew Purcell and Paul Jansch (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Paige Brinton (IP); and Jennie Getsin (FINRA and Blue Sky).