MSU Energy Completes Refinancing of Senior Secured Notes
01.14.25
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Simpson Thacher represented MSU Energy S.A. (“MSU Energy”) in connection with its offer to exchange up to $400 million aggregate principal amount of its 6.875% Senior Secured Notes due 2025 (the “2025 Notes”), for newly issued 9.75% senior secured notes due 2030 (the “2030” Notes”), conducted pursuant to applicable exemptions from the registration requirements under the Securities Act of 1933, as amended (the “Securities Act”). MSU Energy issued approximately $223 million aggregate principal amount of 2030 Notes pursuant to the exchange offer.
Simpson Thacher also represented MSU Energy in connection with its concurrent offering of approximately $177 million aggregate principal amount of 2030 Notes, pursuant to exemptions from the registration requirements under the Securities Act, for a total aggregate principal amount of 2030 Notes of $400 million. MSU Energy used the proceeds of the offering to fund the redemption of 2025 Notes not exchanged in the exchange offer. The remainder of the outstanding 2025 notes was redeemed with proceeds from a local syndicated credit facility entered into by MSU Energy.
MSU Energy is engaged in the development and operation of power generation projects in Argentina and forms part of the MSU Group, a leading player in the agribusiness sector in Argentina and throughout the region.
The Simpson Thacher team included Juan M. Naveira, Alejandro de Ramon-Laca and Susan Uquillas (Latin America - Capital Markets); and Michael E. Mann and Benjamin Bressler (Tax).