Simpson Thacher is representing the underwriters, led by J.P. Morgan Securities LLC, TD Securities (USA) LLC, and BofA Securities, Inc., in connection with the registered notes offering by Expand Energy Corporation (“Expand Energy”) of $750 million aggregate principal amount of 5.700% Senior Notes due 2035. Expand Energy intends to use the net proceeds from the offering, together with cash on hand, (i) to fund Expand Energy’s tender offer to purchase for cash and any and all of Expand Energy’s 5.500% Senior Notes due 2026 pursuant to an offer to purchase (the “Tender Offer”) and (ii) to redeem Expand Energy’s 8.375% senior notes due 2028 in full. Expand Energy intends to use any remaining net proceeds for general corporate purposes. Simpson Thacher is also representing the dealer managers in connection with the Tender Offer.
Expand Energy is the largest independent natural gas producer in the United States, powered by dedicated and innovative employees focused on disrupting the industry’s traditional cost and market delivery model to responsibly develop assets in the nation’s most prolific natural gas basins. Expand Energy’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution. Expand Energy is committed to expanding America’s energy reach to fuel a more affordable, reliable, lower carbon future.
The Simpson Thacher team included Brian Rosenzweig, Richie Ragusa, Ryan Poché, Suzannah Ranzo, Emily Martin and Jacob Bryant (Capital Markets); Michael Mann (Tax); Michael Isby (Environmental); Christine Song (Intellectual Property); Pasco Struhs (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA).