Simpson Thacher represented J.P. Morgan Securities LLC and the other initial purchasers in connection with a Rule 144A/Regulation S offering by Olin Corporation (“Olin”) of $600 million aggregate principal amount of 6.625% Senior Notes due 2033.
Olin intends to use the net proceeds from the notes offering, together with borrowings under new replacement credit facilities that Olin entered into concurrently with the consummation of the notes offering, to (i) redeem all of its $500.0 million of 5.125% Senior Notes due 2027, (ii) refinance its existing revolving credit facility and repay all borrowings thereunder, including borrowings used to redeem all of its 9.500% Senior Notes due 2025, (iii) refinance its existing term loan facility and (iv) pay related fees and expenses.
Olin is a leading vertically integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition.
The Simpson Thacher team included Dave Azarkh, John O’Connell, Matt Petrone, Albert Murzakhanov and Sabrina Suen (Capital Markets); Michael Mann (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Caroline Geiger and Chandler Gerard-Reimer (Intellectual Property); and Andrew Pagliughi (Blue Sky).