Simpson Thacher Represents Lead Arranger in $600 Million Bridge Facility for PDC Energy
The Firm represented JPMorgan Chase Bank, N.A., as sole lead arranger and sole bookrunner in connection with its amended $250 million revolving credit facility and a $600 million bridge facility for PDC Energy. The proceeds from the new facility will be used for the acquisition by PDC Energy of two privately held companies with a combined 57,000 acres in the Permian Basin in West Texas, managed by energy-focused private equity firm Kimmeridge Energy Management Co. LLC.
PDC Energy is an exploration and production company headquartered in Denver, Colorado focused on value-added organic growth through active horizontal drilling programs.
The Simpson Thacher team included Robert Rabalais, Roald Nashi and Zach Banks (Banking and Credit); and Ryan Bekkerus and Michael Chao (Capital Markets).