Knife River Corporation Enters into $1.265 Billion Senior Secured Credit Facilities
03.11.25
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Simpson Thacher recently represented JPMorgan Chase Bank, N.A. and other arrangers in connection with Knife River Corporation's ("Knife River") $1.265 billion senior secured credit facilities. The senior credit facilities consist of a $265 million term loan A facility, a $500 million revolving credit facility and a $500 million term loan B facility. Knife River used a portion of the proceeds of the term loan B facility to consummate the previously announced acquisition of Strata Corporation and related assets.
Knife River mines aggregates and markets crushed stone, sand, gravel, and related construction materials, including ready-mix concrete, asphalt and other value-added products. Knife River also performs vertically integrated contracting services, specializing in publicly funded DOT projects and private projects across the industrial, commercial and residential space.
The Simpson Thacher team included Dan Kay, Robert Meyer, Aaron Gurley, and Kate Burns (Banking and Credit); and Jonathan Cantor (Tax).